2. You have developed a self-study certification system for those who need credit hours for recertification by your state's social welfare office. The system operates at virtually no cost, i.e., there is no marginal cost. A marketing research team has assembled the following sale information: Online Self Study Certifications for Social Work License Certification Customers in Online Counseling Segment 1 Segment 2 Segment 3 Segment 4 1000 $190 1000 $150 1000 1000 $95 $35 TR Counseling Certification as a Group Home Counselor TR Group Home $70 $90 $160 $195 Bundle $260 $240 $255 $230 TR Bundle

2. You have developed a self-study certification system for those who need credit hours for recertification by your state's social welfare office. The system operates at virtually no cost, i.e., there is no marginal cost. A marketing research team has assembled the following sale information: Online Self Study Certifications for Social Work License Certification Customers in Online Counseling Segment 1 Segment 2 Segment 3 Segment 4 1000 $190 1000 $150 1000 1000 $95 $35 TR Counseling Certification as a Group Home Counselor TR Group Home $70 $90 $160 $195 Bundle $260 $240 $255 $230 TR Bundle

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that you are the marketing manager of Citruscity, the only producer of grapefruits in the imaginary economy of Blockburg. As a monopolist, Citruscity's objective is to maximize its profit, so it is up to you devise a way to increase profits through price discrimination. As a former economics student, you know that many firms successfully practice price discrimination by separating their market into two identifiable types of consumers-what economists call third-degree price discrimination. Examples of this include student discounts, senior citizen discounts, and ladies' night discounts. After doing some research, you conclude that the demand for grapefruits varies greatly between consumers who clip coupons and those who do not. The following graphs show the overall dailly demand and marginal revenue (MR) for a pound of grapefruits for each group of consumers and the marginal cost (MC) for producing a pound of grapefruits. Assume that fixed costs are equal to zero. Note: You will…
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