Suppose that there are three buyers with their willingness to pay for the TV and table in the table below. Cost of firm is given as $0. Suppose that owner of the firms knows their willingness to pay. Compute the profits of the owner on selling the goods. Buyer Person A Person B Person C 3,500 TV (S) 1000 800 100 Table (S) 500 300 800

Suppose that there are three buyers with their willingness to pay for the TV and table in the table below. Cost of firm is given as $0. Suppose that owner of the firms knows their willingness to pay. Compute the profits of the owner on selling the goods. Buyer Person A Person B Person C 3,500 TV (S) 1000 800 100 Table (S) 500 300 800

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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