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2 Let's stick with the same smartphone producer from the previous example. If the firm reduces its price slightly, it finds that there are no
2 Let's stick with the same smartphone producer from the previous example. If the firm reduces its price slightly, it finds that there are no additional customers willing to purchase a phone at $490, or $450, or $400, etc. At a price of $200, however, two new customers would buy the smartphone (in addition to the customer with a WTP of $500). What is the firm's revenue at a price of $200? A.0 $100 B.0 $200 C.0 $400 D.0 $600
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