Question 1. Detailer Revenue Maximization Using data from their survey, the Detailer team has estimated that the demand for the Detailer can be expressed by the following linear equation: Quantity sold = 66,773 – 3413.6 Price a) The team wants to know what price they should charge to give them the highest possible level of revenue. Find this price using Solver. Price- $9.78, Revenue $326,534b) If we assume the Detailer will cost $5.65 per unit to produce, what is the profit maximizing price? Whyis this different from the price that maximizes revenue? The profit maximizing price is $12.61. This is different than the price that maximizes revenue because due to the cost of production, the price that maximizes revenue has about $28,000 lower in profit. c) A member of the team thinks that de

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)