assume that price is 6 advertising is 5000 price of the subs

assume that price is $6, advertising is $5000, price of the substitute is $4, income is $40,000, population is 6,000,000, and the independent variable labeled \'Time\' is 9, what are sales ?

Solution

price = 6

advertising = 5000, population = 6000000

assuming all of the population buys it.

sales is = 6 * 6000000 = 36000000.

price of substitute = 4 , income = 40000.

so, the number of population bought it is 10,000.

sales = (6000000-10000) * 6 =35940000