Inkeo Company Recently Changed the Selling Price of One of Its

Multiple Choice

Inkeo Company recently changed the selling price of one of its products. Data concerning sales for comparable periods before and after the price change are presented below. $$\begin{array} { c c } \text { Selling Price } & \text { Unit Sales } \\\$ 12.00 & 4,300 \\\$ 11.00 & 5,030\end{array}$$ The product's variable cost is $12.70 per unit. According to the formula in the text, the product's profit-maximizing price is closest to:

A) $28.87
B) $28.53
C) $15.91
D) $29.91