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1. Consider a coffee shop that has two types of customers: lawyers and doctors. The demand for espresso by lawyers is gi
Posted: Wed Mar 09, 2022 8:30 am
by answerhappygod
- 1 Consider A Coffee Shop That Has Two Types Of Customers Lawyers And Doctors The Demand For Espresso By Lawyers Is Gi 1 (56.78 KiB) Viewed 35 times
1. Consider a coffee shop that has two types of customers: lawyers and doctors. The demand for espresso by lawyers is given by Q = 18 - 3P, where P is measured in dollars and Q is measured in ounces. The demand for espresso by doctors is given by Q = 10 - 2P. There are equal numbers of lawyers and doctors. The marginal cost of an ounce of espresso is $2. (c) Keeping the drink sizes the same (6 ounces and 12 ounces), how should the coffee shop owner change the total prices of the two drinks so that lawyers will buy the lawyer option and doctors will buy the doctors option, and profits are maximized?