Your company is about to market a new golf club. You have convened a focus group of 100 golfers…

Your company is about to market a new golf club. You have convened a focus group of 100 golfers and asked them to compare your club to the clubs produced by your competitors. You have found, for example, that 30 customers in the focus group would purchase your club if you charged $120, 28 customers would purchase your club if you charged $130, and so on. How could you use this information to determine the price at which your club should be sold?

 

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