Business, 12.12.2019 06:31 Cjohnston742

Morice industries inc. has developed a new injection mold, model ia-05, that is designed to offer superior performance to a comparable injection mold sold by morice’s main competitor. the competing injection mold sells for $54,000 and needs to be replaced after 1,000 hours of use. it also requires $7,000 of preventive maintenance during its useful life. model ia-05’s performance capabilities are similar to the competing product with two important exceptions—it needs to be replaced only after 2,000 hours of use and it requires $8,000 of preventive maintenance during its useful life. from a value-based pricing standpoint what range of possible prices should morice consider when setting a price for model ia-05?

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