Pricing and Demand WKSheet

Pricing and Demand: Economics worksheet

Looking at 2-5/2-6 answer the following:1) If every bar costs $.10 to produce, where is the maximum profit in pricing?2) If for every 1,000 bars you produce the cost of production drops $.01, where is the maximum profit?3) If an actor says that a Yum-Yum bar is his favorite and demand does up 500 bars at all prices, assuming 1 and 2 are still true, where is the maximum profit?Looking at figure 2-74) What could cause this change? 5) Recreate 2-5, using 2-7 as your data source6) What would be the new answer to question number 1?Looking at figure 2-87) What could cause this change?8) Where is the maximum profit on demand2s curve?9) What would be the new answer to question number 1?Looking at figure 2-910) What could cause this change?11) What would be the new answer to question number 1?