A good price to sell each cupcake is about $1-2 because more people are willing to buy more cupcakes at that price. The higher the price for each cupcake, the less people want to buy the cupcakes. This follows the law of demand which states the higher the price of an item, the lower the demand is. You can see from the first graph that as the price gets higher, less people want to buy our product.
The majority of people who we have surveyed stated that they would want to buy 1-2 cupcakes at a time. Using this data, we can determine how many cupcakes we should make for a batch. By determining how many cupcakes there will be in a batch, we can also figure out how much money will be used for cost of inputs. We roughly could make around a dozen cupcakes for each batch.
Most people decided that they wanted the chocolate flavor for their cupcakes between vanilla and chocolate. However there isn't a huge difference between the two flavors. As a group, we'll sell half of our cupcakes in vanilla flavor and the other in chocolate flavor. If possible, we might do some daily flavors that are different from our usual vanilla and chocolate flavor.
From the survey, we have discovered that most people would like the cupcakes to be sold in class rather than outside of class. We'll be selling our cupcakes while in class due to there being more demand for the cupcakes to be sold in class.
Our group wanted to sell extra toppings on your cupcake for an extra 25 cents. Many people decided that they would be willing to pay a little extra for those toppings. We will also be providing extra toppings because the majority of people surveyed would want to pay for those extra toppings.
.png)
.png)
