Illustrate what we didnt realize at the time was that our, Ask an Expert

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Overheard at the water cooler: "The demand and cost estimated that were provided at the meeting were very useful (Q= 90-6.5P and TC= 150 + 3.5Q). Unfortunately, what we didn't realize at the time was that our fixed costs were underestimated by at least 30 percent. This means that we will have to adjust our price upward by at least 30 % to cover the added fixed cost. In any case, there is no way we can survive by charging less than $9 for our product."

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Business Economics, Economics

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