In an interview with McKinsey & Company, Larry Fink, the CEO of BlackRock, an investment company, says that his clients constantly ask, "What do I do with my money?" But he points out that clients only come to businesses they trust, based on the messages given by company leaders. One of Fink’s skills is delivering a message that creates a connection with clients, inspiring them to trust BlackRock with their money.

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?