Given that the firm only chooses to sell the high-end professional series, how should it price its product?
a. Price low, sell to both users
b. Price high, sell only to the professional chefs
c. Price low, sell only to the professional chefs
d. Price high, sell only to the home users
b
You might also like to view...
Suppose that the basket of goods purchased by the typical consumer costs $188.80 this year and it cost $160 in the base year. The CPI in the base year would be
A) 85.11. B) 100.0. C) 118.0. D) 348.8.
In 2009, just after taking office, President Obama approved an $800 billion stimulus package of tax cuts and increased government spending to combat the recession brought on by the financial crisis of 2007
Which group of economists most approved of President Obama's actions? A) Keynesian economists B) classical economists C) monetarists D) free market economists
Explain how the AA schedule is derived
What will be an ideal response?
Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below.
If the government provides a subsidy of $500 per ton, the equilibrium price of sugar will be ________ per ton, and the equilibrium quantity will be ________ tons per day.
A. $1,500; 12 B. $1,000; 12 C. $1,000; 8 D. $1,500; 8