Question: This is Numeric Entry ouestion / His worth 4 points / Youtuve 1 of 2 attempts remaining there is a 20% attempt penalty See page

This is Numeric Entry ouestion / His worth 4 points / Youtuve 1 of 2 attempts remaining there is a 20% attempt penalty See page 345 04 Question (4 points) A local magic shop has a monopoly on the production of magic wandk. Each customer wants only one magic ward, and the table below shows each customer's willingness to pow. The marginal cost of producing a wand is $9 no matter how many we produced Quantity demanded Price per Wand (5) 0 1 2 3 4 5 6 30 27 24 21 10 15 126 2nd attempt See Hint Part 1 (2 points) If the shop can charge only a single price, it will charges and sell Wands a SUBMIT ANSWER VIEW SOLUTION 10 OF 11 QUESTIONS COMPLETED 3391 Part 2 (2 points) See Hint If the firm practices perfect price discrimination, it will sell a total of wands and earn a profit of $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
