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The Luxxotica Group designs, distributes, and manufactures eyeglasses. It includes such recognizable companies such as LensCrafters, Sunglass Hut, Pearle Vision, and Glassescom. One of your

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The Luxxotica Group designs, distributes, and manufactures eyeglasses. It includes such recognizable companies such as LensCrafters, Sunglass Hut, Pearle Vision, and Glassescom. One of your instructors recently bought a new pair of Ray Ban eyeglasses, paying around $1000 for the pair. Imagine below is the market for that particular style of Ray Bans. Calculate {1) Luxxotica's profit, (2) consumer surplus, and (3) deadweight loss. [Please note: the instructor who did not buy the glasses, thinks the other instructor is crazy to spend that much on something one of her kids will probably play with and break] 51000 $300 MC=AC

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