Question: Please help with this practice question. Assume that you manage a firm that sells calculators. You want to sell calculators to both commercial users and

Please help with this practice question.

Assume that you manage a firm that sells calculators. You want to sell calculators to both commercial users and home users, and so you have developed 2 types of calculators - fancy and basic calculators. Each customer type has the following valuations for each type of calculator: Home Commercial User User Fancy Calculator $100 $200 Basic Calculator $30 $50 Ifyou have an 100 home users and 100 commercial users that at most will buy 1 calculator each, you will maximize total revenue by setting what price for the fancy calculator? (Write answer without the dollar sign.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Please help with this practice question. Assume that you manage a firm that sells calculators. You want to sell calculators to both commercial users and home users, and so you have developed 2 types...

6] Assume that you manage a firm that sells calculators. You want to sell calculators to both commercial users and home users, and so you have developed 2 types of calculators - fancy and basic...

Please help with this practice question. This is the full question. | Assume that you manage a printer company that wants to sell its printers to commercial users and home users. You have developed...

Please help me answer this question Background Veronese 81 Tiffany Inc. is a medium-sized business located in Elmira, Ontario. It sells designerjewelry to specialty stores through Canada as well as...

ATTENTION TUTORS PLEASE HELP ME IN ANSWERING THIS ATTACHMENT WORKSHEET I NEED IT FOR CLASS IN ACCOUNTING THANK YOU HAVE THE ANSWERS IN YELLOW PLEASE SEE ATTACHMENT Question 1 of 15 1. A small...

I need some assistance with this worksheet Please and Thank you. I JUST NEED THE ANSWERS FOR THEM THANK YOU THEY ARE 5 SECTIONS WITH A TOTAL OF 15 QUESTIONS Question 1 of 15 1. A small consulting...

Please complete the attached worksheet thank you and highlight the answer in yellow see attachment Question 1 of 15 1. A small consulting company wants to make the switch to QuickBooks Online. All of...

Bloomberg CASEO Businessweek STUDIES E Financial Statements Analysis Compare financial statement ratios The Financial Statements Analysis case study includes two sep- to identify critical objective...

Please help answer all answers. Thank you. For questions 15 just skip. If anyone knows these answers I'm willing to pay more. 12. 17. 18. Which of the following is a feature in the QuickBooks App...

QI: Using 74194 (4-bit universal shift register 1.C) shown in figure (QI) to design 8-bits universal shift register? lo l lo la (3) (4) (5) (6) NRG 4 (9) (2) 171 S. SER ( CLK TTTT (13) (14) Ch Figure...

Solve Prob. 412 using singularity functions. Use statics to determine the reactions. Prob. 412, Using superposition, find the deflection of the steel shaft at A in the figure. Find the deflection at...

20. Taxes (including federal, state, and local) are about of our GDP. (LO5 ) a) 10 percent c) 30 percent b) 20 percent d) 40 percent

2 of 5 For $7.90, you purchased 8 total items (pens and highlighters ) from a local bookstore. Each highlighter cost $1.09, and each pen cost $0.68. Write a system of equations that can be used to...

5. Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures? Explain why price can be substituted for marginal revenue in the MR = MC rule...

LO10.4 Convey how purely competitive firms can use the total-revenuetotal-cost approach to maximize profits or minimize losses in the short run.

LO9.4 Use economies of scale to link a firms size and its average costs in the long run.