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You are the pricing manager for a fantasy football expert site. It is your job to set the price consumers must pay to "subscribe" to the website, and get all the additional articles and "insight". To solve this problem, you hire (with very high consulting fees) your former managerial economics instructor to estimate the elasticity of demand for your subscriptions. He estimates a linear demand and determines own price elasticity is -1.5. Your marginal cost is estimated to be zero. To maximize profits, should you maintain, raise or lower your price? Based on your recommendation, be sure to state what will happen to revenue, cost, and profit.

Business Management, Management Studies

  • Category:- Business Management
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