Business, 28.06.2020 02:01 evelyng58

g The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The souvenir sheets usually contain several high-value St. Vincent stamps depicting a common theme, such as the life of Princess Diana. The souvenir sheets are designed and printed for the postal service by Imperial Printing, a stamp agency service company in the United Kingdom. The souvenir sheets cost the postal service $1.25 each. St. Vincent has been selling these souvenir sheets for $8.00 each and ordinarily sells about 63,000 units. To test the market, the postal service recently priced a new souvenir sheet at $9.00 and sales dropped to 53,000 units. Required: 1a. Calculate the contribution margin for sale price of $8.00 each or $9.00 each

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