Joseph Flynn
05/28/2023 · Middle School
Question 3: In reviewing the model, Mr. Simon realizes that the quantities demanded and sold depend on the selling price of the pies. The pie's demand equation is given by: Pies Demanded \( =50.4-4.3 \times \) Pie Price. a. Calculate the new values of the financial results. What has happened to the new profit? b. Implement these calculations in a new spreadsheet labeled Sheet_Q3.
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To calculate new financial results, use the demand equation \( \text{Pies Demanded} = 50.4 - 4.3 \times \text{Pie Price} \). Determine the quantity demanded, revenue, and profit for different pie prices. Assume a cost per pie and calculate total costs. Implement these calculations in a new spreadsheet named "Sheet_Q3" using formulas for automated calculations.
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