Pete's Power Pizzas are microwaveable low-fat pastry shells filled with natural and nutritious ingredients, designd for the health-conscious person on the go. Pete's has determined that the demand function for the "Original" Power Pizza is: Quantity = 245.11 - 27.97 x Price Find Maximum Reservation Price for the "Original" Power Pizza.
Given :Demand function is ,
Quantity =245.11-27.97*Price
Maximum reservation price (MRP) is the price at which the quantity demanded =0
i.e 245.11-27.97*Price =0
Price=245.11/27.97 =8.76332
Maximum reservation price =8.76 (rounded to two decimal places)
Pete's Power Pizzas are microwaveable low-fat pastry shells filled with natural and nutritious ingredients, designd for...