Assume that you own a business that sells Good X and Good Y. Below show the valuations
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Question:
Assume that you own a business that sells Good X and Good Y. Below show the valuations of three Malaysian customers on each of your products. The valuation reflects the price of the product that these customers are willing to pay.
Customer 1 : Good X $2000 Good Y $500
Customer 2 : Good X $1800 Good Y $300
Customer 3 : Good X $900 Good Y $800
Assume that your costs are zero.
i) If you know the valuation and identity of each customer in the above table, what is your optimal pricing strategy? How much is your profits?
ii) Does this pricing strategy benefit the society as a whole? Explain.
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