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The postal service of Tobago, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The postal service purchases the souvenir sheets from a supplier for $$1\mathrm{.}20$ each. Tobago has been selling the souvenir sheets for $$10\mathrm{.}00$ each and ordinarily sells about $95,000$ units. To test the market, the postal service recently priced a new souvenir sheet at $$9\mathrm{.}00$ and sales increased to $111,150$ units.$$

Required:

What total contribution margin did the postal service earn when it sold $95,000$ sheets at a price of $$10\mathrm{.}00$ each?

By what percentage did the Tobago post office decrease its selling price? By what percentage did unit sales increase?

What total contribution margin did the postal service earn when it sold $111,150$ sheets at a price of $$9\mathrm{.}00$ each?

What was the postal service$$s increase $($decrease$)$ in total contribution margin going from the higher price of $$10\mathrm{.}00$ to the lower price of $$9\mathrm{.}00?$

How many sheets would the postal service have to sell at the lower price of $$9\mathrm{.}00$ to equal the total contribution margin earned at the higher price of $$10\mathrm{.}00?$

What percentage increase in the number of sheets sold at $$9\mathrm{.}00$ must be achieved to equal the total contribution margin earned at the higher price of $$10\mathrm{.}00?$

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