The MacDonald sells two popular packages of breakfast all-day-long: Mac A and Mac B . The sales of these products are not independent of each other (in economics, we call these substitutable products, because if the price of one increases, sales of the other will increase).
The store wishes to establish a pricing policy to maximize
revenue from these products. A study of price and
sales data shows the following relationships between
the quantity sold ( Q ) and prices ( P ) of each model:
QA = 20 – 0.62PA + 0.30PB
QB = 29 + 0.10PA – 0.60PB
a. Construct a model for the total revenue and implement it on a spreadsheet.
b. Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue.
c. Use "Solver" to find the optimal prices.
Solver is a Add-on feature that you can download from Excel Home. You will need to show your formular and Solver in Excel spreadsheets. Save your file with your Firstname_lastname and submit the Excel Spreadsheets in the designated area. Please be mindful of the submission deadline!
We are a professional custom writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework.
Yes. We have posted over our previous orders to display our experience. Since we have done this question before, we can also do it for you. To make sure we do it perfectly, please fill our Order Form. Filling the order form correctly will assist our team in referencing, specifications and future communication.
2. Fill in your paper’s requirements in the "PAPER INFORMATION" section and click “PRICE CALCULATION” at the bottom to calculate your order price.
3. Fill in your paper’s academic level, deadline and the required number of pages from the drop-down menus.
4. Click “FINAL STEP” to enter your registration details and get an account with us for record keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
5. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.