hs sawcd question/ Itis worth 6 poinls/You have-2 of 2 atteampts remaining/There
ID: 1111465 • Letter: H
Question
hs sawcd question/ Itis worth 6 poinls/You have-2 of 2 atteampts remaining/There is no attempt penally 11 Question orins) Seepage351 A fast-food restaurant has identifed three primary groups willing to purchase its meals. However, customers are willing to purchase only one meal each The table shows the total number of meals bought at three different prices The number of consumers isthe total number of level Group Number of consumers High 350 m500 750 Willingness to pay $5.50 $4 The restaurant can produce a meal with no fixed costs and a constant marginal cost of $1 per unit. 1stattempt Part 1 (2 points) 7 See Hint ifthe restaurant charges only one price for the meal, it will charge $ and receive a proft or $ Part 2 (2 points) 9 See Hint me thefimcandist neush between customers and has the ability to charge ditferent customers different orices If theret auransExplanation / Answer
Part1
answer is that he will charge a price of $4 which gives him a profit of (3*850) = $ 2550
Part 2
answer is that he willcharge each customer his maximum willingness to pay and thus will earn a profit of (4.5*350)+(3*500)+(1*750)= $3825
Part 3
answer is that firm will charge two prices of $2 and $4 which will fetch it a profit of (1*750)+(3*850)= $3300
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