Question: Quantity Price ($) Total Cost ($) 0 170 100 1 160 140 2 150 184 3 140 230 4 130 280 5 120 335 6

Quantity

Price ($)

Total Cost ($)

0

170

100

1

160

140

2

150

184

3

140

230

4

130

280

5

120

335

6

110

393

7

100

475

8

90

565

The above table shows the demand and cost information relating to Jack's Shoe Store. Jack owns the only shoe store in town.

1. What is consumer surplus at the profit-maximizing quantity? (Answer is not 180)

a.

$0
b.

$30
c.

$60
d.

$100
e.

$150
f.

$210
g.

$280
h.

$320
i.

$417
j.

$587
k.

$660
l.

$810

2. If Jack could perfectly price discriminate, what is total profit at the profit-maximizing quantity? (Answer is not 475)

a.

$150
b.

$220
c.

$267
d.

$300
e.

$320
f.

$365
g.

$393
h.

$417
i.

$435
j.

$587
k.

$660
l.

$810

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