If the Demand Schedule for Bong's Book Is Q =

question 12

Multiple Choice

if the demand schedule for Bong's book is Q = 5,000 - 100p, the cost of having the book typeset is $6,000, and the marginal cost of printing an extra book is $4, then he would maximize his profits by

• A)not having it typeset and not selling any copies.
• B)having it typeset and selling 4,600 copies.
• C)having it typeset and selling 2,500 copies.
• D)having it typeset and selling 2,300 copies.
• E)having it typeset and selling 1,150 copies.

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Definitions:

Changing Cell

In spreadsheet applications, a cell whose value is altered based on changes in a formula or as part of a scenario analysis.

Objective Cell

In optimization and spreadsheet software, the cell that contains the formula that is to be maximized or minimized.

Goal Seek

A function in spreadsheet software that finds the input value needed to achieve a specific goal or result in a formula.

What-If Analysis

A process or feature in spreadsheet and analytical software that allows users to predict the outcome of a particular action or scenario by changing variables.