User Account

All Pages

Determine the optimal solution of the problem

Assignment Help Business Management
Reference no: EM132713977

Use the Excel Solver plugin to determine the optimal price for a single product. Use the information below to formulate your pricing optimization problem:

-Demand as a function of price: D(p) = 2000-10p

-Unit Variable cost of product: c=$8 per unit

-Price must be no more than $110 per unit to be competitive in the marketplace

a) Provide the algebraic (mathematical) formulation of the pricing optimization problem that maximizes the total contribution.

b) Determine the optimal solution of the problem using Excel Solver. Select the GRG Nonlinear as your solving method in the Solver Parameters window before you solve the problem.

i. Show the optimal solution, including optimal values of the decision variable(s) and the optimal value of the objective function.

Reference no: EM132713977

Questions Cloud

Original linear programming problem : Create your own original Linear Programming problem with a minimum of two variables and two constraints. Y
Characteristic of the millennial generation : Multitasking-doing two or more things at once, or rapidly switching from one task to another-is a characteristic of the Millennial generation.
How much were the direct labor costs of jobs : Lucena Manufacturing Co. charges factory overhead to production at 80% of direct labor cost. How much were the direct labor costs of Jobs
Stakeholder analysis to encourage collaboration : How would you conduct a stakeholder analysis to encourage collaboration and successful outcomes for the program?
Determine the optimal solution of the problem : Use the Excel Solver plugin to determine the optimal price for a single product. Use the information below to formulate your pricing optimization problem:
What is the total income tax expense : The estimated lawsuit expense of $ 750,000 will be deductible in 2022 when it is expected to be paid. What is the total income tax expense
Explain the constraints of the decision problem : C-Town brewery brews two beers: Expansion Draft and Burning River. Expansion Draft sells for $20 per barrel, while Burning River sells for $8 per barrel.
Clinical Leaders : What are the characteristics of leadership does David exhibit? Changing leadership styles requires deliberate steps.
Identify hazards and monitor risk control procedures : So, what information from these records could be used to identify hazards and monitor risk control procedures?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd