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IpodDemand

# IpodDemand - 0-100 69 \$50 101-200 95 \$150 201-300 92 \$250...

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Distribution of willingness to pay for an iPod. (Assuming people who answered in a range were all at middle of that range.) Range Number of students Willingness to pay 0-100 43 \$50 101-150 68 \$125 151-200 52 \$175 201-250 17 \$225 250-300 8 \$275 300+ 7 \$400 Note: 82% of class members report that theyhave an iPod. Smallest iPod nano costs \$149. Exercise At what price would Apple get the most revenue? What price would give Apple the most profit if it costs them \$100 to produce and sell an iPod. Distribution of willingness to pay for an iPhone (Assuming people who answered in a range were all at middle of that range.) Range Number of students willingness to pay
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Unformatted text preview: 0-100 69 \$50 101-200 95 \$150 201-300 92 \$250 301-400 47 \$350 401-500 13 \$450 501-600 4 \$550 601-700 2 \$650 701-800 1 \$750 801-1000 1 \$900 1000+ 5 \$1,500 Note: About 6% of class report having an iPhone I phones cost \$599 until a couple of weeks ago. Now cost \$399. Exercise At what price would Apple get the most revenue? What price would give Apple the most profit if it costs them \$100 to produce and sell an iPhone. What price would give Apple the most profit if it costs them \$150 to produce and sell an iPhone. What price would give Apple the most profit if it costs them \$200 to produce and sell an iPhone....
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