Now imagine the Cornfield Cheesecake Shop plans to start a promotion. The owner is considering two sale policies: (1) "Buy One, Get One Free" deal, and a restriction of "limit one per customer" (in other words, you can only buy one and get the second free but you can't buy two or more and get two or more free). (2) "50% off" deal (in other words, for any quantity you buy, you will pay half of the price). Now the customer's preference is shown by the set indifference curves in the graph. Which of the following statements is TRUE about the customer? Y 2 2 3 O Under the deal "Buy One, Get One Free" deal, and a restriction of "limit one per customer", C is affordable, and the customer achieves the highest possible utility at C Under the deal "Buy One, Get One Free" deal, A is affordable and the and the customer achieves the highest possible utility at A. 4 Under the deal is "50% off", B is affordable, and the customer achieves the highest possible utility at B Under the deal is "50% off". C is affordable, and the customer achieves the highest possible utility at C

Now imagine the Cornfield Cheesecake Shop plans to start a promotion. The owner is considering two sale policies: (1) "Buy One, Get One Free" deal, and a restriction of "limit one per customer" (in other words, you can only buy one and get the second free but you can't buy two or more and get two or more free). (2) "50% off" deal (in other words, for any quantity you buy, you will pay half of the price). Now the customer's preference is shown by the set indifference curves in the graph. Which of the following statements is TRUE about the customer? Y 2 2 3 O Under the deal "Buy One, Get One Free" deal, and a restriction of "limit one per customer", C is affordable, and the customer achieves the highest possible utility at C Under the deal "Buy One, Get One Free" deal, A is affordable and the and the customer achieves the highest possible utility at A. 4 Under the deal is "50% off", B is affordable, and the customer achieves the highest possible utility at B Under the deal is "50% off". C is affordable, and the customer achieves the highest possible utility at C

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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