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Let's expand upon the question from lecture. There is a coffee shop which charges different prices for a cup of coffee from the tourists (T)
Let's expand upon the question from lecture. There is a coffee shop which charges different prices for a cup of coffee from the tourists (T) and locals (L). The tourists have a demand function of P = 5-QT/120, while the locals have a demand function of P = 3-QL/180. C=1.2 Q, where Q = QT + QL
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Macroeconomics Canada in the Global Environment
Authors: Michael Parkin, Robin Bade
8th edition
321778103, 978-0321808370, 321808371, 978-0321778109
