You want to determine the correct price for a new weekly magazine. The variable cost of printing and distributing a copy of the magazine is $0.50. You are thinking of charging from $0.50 through $1.30 per copy. The estimated weekly sales of the magazine are shown in the following table. What price should you charge for the magazine.
|
Price
|
Demand (in Millions)
|
|
$0.50
|
2
|
|
$0.90
|
1.2
|
|
$1.30
|
.3
|