A local fruit orchard sells peaches to both a local farmers market and to a grocery store
Fantastic news! We've Found the answer you've been seeking!
Question:
A local fruit orchard sells peaches to both a local farmer’s market and to a grocery store chain. The demand function for the farmer’s market is q_F=800-200p_F, and demand for the grocery store chain is q_G=600-100p_G. The total cost of supplying peaches to market is TC(Q)=2Q+400 where Q=q_F+q_G. Note that quantity is measured in pounds of peaches. What is the profit-maximizing price the orchard should set in each market? How many pounds of peaches will be sold to each market? What is the orchard’s profit?
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Posted Date: