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Many companies offer discounts to students, military, and teachers. New Balance is one such company. Below are demand and marginal revenue equations for a pair
Many companies offer discounts to students, military, and teachers. New Balance is one such company. Below are demand and marginal revenue equations for a pair of New Balance 580 shoes for two groups of consumers. Calculate the (1) price each group will pay for a pair of these New Balance shoes and (2) what percentage discount students receive. Please show your work. Full price consumers: P=160-Q MR = 80-Q Students: P=100-%Q MR=55-Q For both groups: MC =50
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