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Author Question: Block Island TV currently sells large televisions for $380. It has costs of $290. A competitor is ... (Read 58 times)

Alygatorr01285

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Block Island TV currently sells large televisions for $380. It has costs of $290. A competitor is bringing a new large television to market that will sell for $320. Management believes it must lower the price to $320 to compete in the market for large televisions. Marketing believes that the new price will cause sales to increase by 10%, even with a new competitor in the market. Block Island TV sales are currently 120,000 televisions per year.

What is the target cost if the company wants to maintain its same income level, and marketing is correct (rounded to the nearest cent)?
◦ $224.00
◦ $238.18
◦ $230.00
◦ $290.00


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Marked as best answer by Alygatorr01285 on Mar 6, 2021

Jadwiga9

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Alygatorr01285

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Reply 2 on: Mar 6, 2021
Excellent


rleezy04

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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