What is the correct price for consoles

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1. Now assume that, on average, a purchaser of your video game console buys 10 video games, and you earn $10 profit on each video game. What is the correct price for consoles?

2. In the razorsandblades.xls fi le example, suppose the cost to produce a blade is $0.20. If you charge $0.35 for a blade, a customer buys an average of 50 blades from you. Assume the price elasticity of demand for blades is 3. What price should you charge for a razor and for a blade?

Reference no: EM131380272

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