Use the following information to answers questions 1 - 5. Assume there are three persons who choose at most one unit of good X and Y with reservation prices for X and Y given in the table below. Also assume that MC = AC = 2 for good X and for good Y. This same information is repeated on the next page. Person A Person B Person C X 4 8 Y 4 6 1. When good X is sold at the profit maximizing price, the price charged is a) 4 b) 8 c) 10 d) 6 e) 12 2. When good Y is sold at the profit maximizing price, the profit earned is a) 2 b) 10 c) 8 d) 6 e) 4 3. The gain in profit from pure bundling rather than selling the two goods individually is, a) 2 b) 8 C) 4 d) 6 e) 0

Use the following information to answers questions 1 - 5. Assume there are three persons who choose at most one unit of good X and Y with reservation prices for X and Y given in the table below. Also assume that MC = AC = 2 for good X and for good Y. This same information is repeated on the next page. Person A Person B Person C X 4 8 Y 4 6 1. When good X is sold at the profit maximizing price, the price charged is a) 4 b) 8 c) 10 d) 6 e) 12 2. When good Y is sold at the profit maximizing price, the profit earned is a) 2 b) 10 c) 8 d) 6 e) 4 3. The gain in profit from pure bundling rather than selling the two goods individually is, a) 2 b) 8 C) 4 d) 6 e) 0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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