Give me accurate answer with graph otherwise i given multiple downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate Price per haircut27242118151299360204060 80 100 120Number of daily haircutsCaptured con:a) If the salon charges a single price of $15, what will its total daily revenue be?Total daily revenue: $ 900b. b) Suppose, instead, that the salon practises price discrimination and now charges $21 for haircuts to regulars but only $15 toretirees and economics instructors. What will its new total daily revenue be?New total daily revenue: $1 1530

Total Revenue:Revenue is the total income generated through the process of production. Demand is a…

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

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter18: Asymmetric Information

Section: Chapter Questions

Problem 18.3P

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Give me accurate answer with graph otherwise i given multiple downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate

Price per haircut
27
24
21
18
15
12
993
6
0
20
40
60 80 100 120
Number of daily haircuts
Captured con:
a) If the salon charges a single price of $15, what will its total daily revenue be?
Total daily revenue: $ 900
b. b) Suppose, instead, that the salon practises price discrimination and now charges $21 for haircuts to regulars but only $15 to
retirees and economics instructors. What will its new total daily revenue be?
New total daily revenue: $1 1530

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