I need the answer as soon as possible 30Tools2724Captured cont211815126.6.320406080100120Number of daily haircutsa) If the salon charges a single price of $15, what will its total daily revenue be?Total daily revenue: Sb. b) Suppose, instead, that the salon practises price discrimination and now charges $21 for haircuts to regulars but only S15 to refirees and economics instructors. What will its new total daily revenue be?New total daily revenue: $c) What is the value of consumer surplus that the salon has captured as a result of price discriminating?Consumer surplus: SPrice per haircut

Here we can calculate the consumer surplus and total revenue at different quantities which are as…

Answered: a) If the salon charges a single price…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Monopoly

Section: Chapter Questions

Problem 6CQQ

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