Top Posters
Since Sunday
y
2
m
2
m
2
u
2
m
2
B
2
M
2
e
2
k
2
N
2
y
2
m
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
nguyenduong67 nguyenduong67
wrote...
Go to Answer
Posts: 1028
Rep: 0 0
7 years ago
You currently sell the same product to both professional plumbers and homeowners, and are able to prevent transfer from one group to the other. Your current prices, quantities sold, and the absolute values of the slopes of the demand curves are as follows

   tableau1 ( (  Price    Number sold    Slope of demand curve  )(Plumbers   $20300.75)(Homeowners   $20100.50) )

If your marginal cost is $10 and you are interested in maximizing your revenues, how would you adjust your prices?
A) Decrease plumbers' price and increase homeowners' price.
B) Decrease prices for both groups.
C) Increase prices for both groups.
D) Increase plumbers' price and decrease homeowners' price.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
Read 210 times
1 Reply
Replies
Answer verified by a subject expert
trumpetsoflifetrumpetsoflife
wrote...
#1
Top Poster
Posts: 741
Rep: 5 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

nguyenduong67 Author
wrote...

7 years ago
Good timing, thanks!
ethom947
wrote...

Yesterday
this is exactly what I needed
ouasfoudgewu
wrote...

2 hours ago
Just got PERFECT on my quiz
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  894 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 394
  
 385
  
 312
Your Opinion
Which country would you like to visit for its food?
Votes: 263
Previous poll results: Which 'study break' activity do you find most distracting?