A flower seller knows that there are two types of consumers: men and women. In his town there are 4 men (H) and 1 woman
Posted: Thu May 19, 2022 8:32 am
A flower seller knows that there are two types of consumers: men
and women. In his town there are 4 men (H) and 1 woman (W).
The demand functions of each individual are:
The cost of producing flowers is $10 per flower.
a) Find the aggregate demand for flowers.
b) If the seller cannot distinguish between consumers,
which consumers does the monopolist serve? Find the price that
maximizes the monopolist's profit, quantity, and profit.
- Η QH = 160 – 2PH Qh QM = 80 – 2PM
and women. In his town there are 4 men (H) and 1 woman (W).
The demand functions of each individual are:
- A Flower Seller Knows That There Are Two Types Of Consumers Men And Women In His Town There Are 4 Men H And 1 Woman 1 (8.51 KiB) Viewed 52 times
a) Find the aggregate demand for flowers.
b) If the seller cannot distinguish between consumers,
which consumers does the monopolist serve? Find the price that
maximizes the monopolist's profit, quantity, and profit.
- Η QH = 160 – 2PH Qh QM = 80 – 2PM