MindTap Economics, 2 terms (12 months) Printed Access Card for Mankiw's Principles of Economics, 8th (MindTap Course List)
8th Edition
ISBN: 9781337096539
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 19, Problem 1QR
To determine
Reason for higher wages in coal mining.
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At the 8:10 café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (that is she cannot price discriminate).
Students with early classes
Students without early classes
Coffee
70
60
Banana
50
100
The MC of coffee is 10. The MC of a banana is 40. Is bundling more profitable than selling separately? HINT: if you sell the bundle, can you make more by offering coffee separately?
If so, what price should be charged for the bundle? (Show calculations)
Your marketing department has identified the following customer demographics in the following table. Construct a demand curve and determine the profit maximizing price as well as the expected profit if MC=$1. The number of customers in the target population is 10,000.
Use the following demand data:
Group
Value
Frequency
Baby boomers
$5
20%
Generation X
$4
10%
Generation Y
$3
10%
`Tweeners
$2
10%
Seniors
$2
10%
Others
$0
40%
Your marketing department has identified the following customer demographics in the following table. Construct a demand curve and determine the profit maximizing price as well as the expected profit if MC=$1. The number of customers in the target population is 10,000.
Group
Value
Frequency
Baby boomers
$5
20%
Generation X
$4
10%
Generation Y
$3
10%
`Tweeners
$2
10%
Seniors
$2
10%
Others
$0
40%
ur marketing department has identified the following customer demographics in the following table. Construct a demand curve and determine the profit maximizing price as well as the expected profit if MC=$1. The number of customers in the target population is 10,000.
Chapter 19 Solutions
MindTap Economics, 2 terms (12 months) Printed Access Card for Mankiw's Principles of Economics, 8th (MindTap Course List)
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