In the standard newsvendor model, the price is assumed to be fixed or exogenously given, so a decision maker
facing random demand decides how much of it to order for a single selling period. This paper studies an extension of the
newsvendor problem in which stocking quantity and selling price are set simultaneously. The general newsvendor model with
lost-sale penalty cost is considered, then the existence and uniqueness of the joint pricing and ordering decisions are proved
respectively for two different demand models. Finally, an numerical example is used to verify the results. It is also given
that the price sensitivity of demand has an effect on optimal decisions and revenue. These results are not only more general
but also may serve as the modeling framework for other related research such as multi-retailer competition and supply chain
contract coordination.