Question
A night-club owner has both graduate student and professor customers. The demand for drinks by a typical graduate student is Q S =18-2P. The demand
A night-club owner has both graduate student and professor customers. The demand for drinks by a typical graduate student is QS=18-2P. The demand for drinks by a typical professor is QA=12-P. There are equal numbers of each. The marginal cost of each drink is $2. Assume no fixed costs.
What will the price be set at for graduate students?
6.75
4
3
5.5
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Foundations of Business
Authors: William M. Pride, Robert J. Hughes, Jack R. Kapoor
6th edition
1337386928, 9781337670975 , 978-1337386920
