Hope this kind of question is allowed. I am trying to figure out the max profit of an item based on how well it sells at different price points. I have the total number of views, percent of people who bought, number of sales, total revenue and of course the costs per item. I know that profit is equal to revenue minus cost, but how does the rate at which they are sold factor in? Any help would be appreciated.
2026-04-06 22:44:30.1775515470
maximize profit based on rate of sales
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Revenue is price times sales. The general idea is that a lower price generally means greater sales volume. You need to model the relationship between cost and volume. Often this is just a fixed cost plus some variable cost per unit made. Then you need a model of sales versus price based on the data you have. Then your profit can be expressed as a function of price which you can differentiate and set to zero to find the maximum.