2. Suppose John has the following demand for coffee per day: Cups of Marginal Coffee Value 1 $8 2 $6 3 $4 4 $2 Currently the regular price of coffee is $6 per cup. The local coffee shop offers a Coffee Lover's discount of 50% off the regular price of coffee. What is the maximum membership price, John is willing to pay for the Coffee Lover's discount?

2. Suppose John has the following demand for coffee per day: Cups of Marginal Coffee Value 1 $8 2 $6 3 $4 4 $2 Currently the regular price of coffee is $6 per cup. The local coffee shop offers a Coffee Lover's discount of 50% off the regular price of coffee. What is the maximum membership price, John is willing to pay for the Coffee Lover's discount?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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