Given the data below, What is the total revenue, total variable cost,total fixed cost, and profit for each quantity & price ? What is the elasticity coefficient for each price between $6.50 and $7.50?
Materials $180,000
Labor $ 225,000
Fixed Expenses $45,000
Delivery $30,000
Commissions $ 50,000
Advertising $ 10,000
Travel $5,000
Fixed administrative & selling expenses $15,000
Price Quantity
$8.00, 65,000
$7.75, 75,000
$7.50, 80,000
$7.25, 90,000
$7.00, 100,000
$6.75, 115,000
$6.50, 120,000