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Economics 3.05

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Subject: 
Economics
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Tags: 
Microeconomics
Marginal concepts
Pricing
marketing
economics
Marginal cost
Economic graph
Nike, Inc.
Shoe
Price
Marginal revenue
Attachment theory

What product market did you choose for this data to represent? Explain why. I chose Nike Free Runs because they can reach pretty high prices are a popular type of shoes. At which price and quantity does marginal cost nearly equal marginal revenue without exceeding it? Highlight this point on your graph. Between a quantity of 5 & 6 pairs of shoes at $160. If you were in business for this product, at which price and quantity level would you sell? Explain why. I would sell the shoes for $160 and a quantity of 5 pairs because it?s when I can maximize my profit.
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