A company produces a product at a variable cost of 10 the, Ask an Expert

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A company produces a product at a variable cost of $10. The company is interested in maximizing its contributions and profits.

There are 5 potential customers each of who will buy 1 at the most. The maximum price that each customer is willing to pay for the product is given below:

Customer	Willingness to Pay
Jane	$20
Paul	$30
Dave	$40
Bill	$50
Amy	$60

QUESTIONS:

1. At what price should the company sell the product so as to maximize total contribution?

2. How much total contribution will the company make at that price?

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Marketing Management, Management Studies

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