We have 3,000 Units of product to sell over a five day period. From historical sales data, we have estimated the following demand curves
P=price/unit in $
Q=number of units sold
Day 1: P=10-0.01Q valid for prices between $3and $8.
Day 2: same as Day 1
Day 3: P= 15-0.01Q valid for prices between $6 and $10
Day 4 P=20-0.01Q valid for prices between $6 and $12
Day5: same as Day 1
The revenue maximizing price for Day 1 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).
The revenue maximizing price for Day 2 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).