Hartismere School

Est. 1451. An outstanding coeducational secondary school & sixth form college and England's first academy

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Product Prices - An optimisation problem

You have a product to sell. What price should you charge to maximize your profits?


Some points to discuss:

·       What are the advantages of setting a low price?


·       How low is it sensible to go?


·       If you sell more items, does this mean you make more money?


·       What information would you need to be able to answer this question?