Ford Motors specialies in salaes of the Mustang and Explorer. A marketing consul

Question

Ford Motors specialies in salaes of the Mustang and Explorer. A marketing consultant found the demand curves for each car:

Mustang demand = 400 - 0.014 * Mustang Price

Explorer demand = 500 - 0.018 * Explorer Price

The dea;erships unit costs are $14,000 for a Mustang and $17,000 for an Explorer. Each mustang requires 2 hours of preparation labor and each Explorer requires 3 hours. The staff can supply only 400 hours of labor.

Formulate the excel model to determine PROFIT MAXIMIZING PRICES for the Mustang and Explorer.

No LP needed. Please show all formulas used!

Explanation / Answer

Ford Motors specialies in salaes of the Mustang and Explorer. A marketing consul

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