Question
In: Economics
2. You manage a farm that is looking to sell oranges in both California and Oregon....
2. You manage a farm that is looking to sell oranges in both California and Oregon. The demand for oranges in California is given by PCA = 25 - 0.5QCA and the demand for oranges in Oregon is POR = 19 - 0.3QOR. The total cost of selling oranges is TC = 10 + Q and the marginal cost is constant at MC = $1. If you can differentiate between customers in California and Oregon, you should charge a price of $13 in California and a price of $10 in Oregon.
3. You manage a farm that is looking to sell oranges in both California and Oregon. The demand for oranges in California is given by PCA = 25 - 0.5QCA and the demand for oranges in Oregon is POR = 19 - 0.3QOR. The total cost of selling oranges is TC = 10 + Q and the marginal cost is constant at MC = $1. If you cannot differentiate between customers in California and Oregon, and you are forced to charge the price that is optimal in California in both Oregon and California, how much profit will you lose compared to the profit you made in (2)? (Write answer without the negative sign nor the dollar sign.)
I answered question 2. I need help getting answer to 3. I got 40 but was marked incorrect
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
2. You manage a farm that is looking to sell oranges in both California and Oregon....
2. You manage a farm that is looking to sell oranges in both
California and Oregon. The demand for oranges in California is
given by PCA = 25 - 0.5QCA and the
demand for oranges in Oregon is POR = 19 -
0.3QOR. The total cost of selling oranges is TC = 10 + Q
and the marginal cost is constant at MC = $1. If you can
differentiate between customers in California and Oregon, you
should charge a price...
You manage a farm that is looking to sell oranges in both California and Oregon.
Price of $13 in California
You manage a farm that is looking to sell oranges in both California and Oregon. The demand for oranges in California is given by PCA = 25 - 0.5QCA and the demand for oranges in Oregon is POR = 19 - 0.3QOR. The total cost of selling oranges is TC = 10 + Q and the marginal cost is constant at MC = $1. If you cannot differentiate between customers in California and Oregon,...
You manage a farm that is looking to sell oranges in both California and Oregon. The...
You manage a farm that is looking to sell oranges in both
California and Oregon. The demand for oranges in California is
given by PCA = 25 - 0.5QCA and the demand for oranges in Oregon is
POR = 19 - 0.3QOR. The total cost of selling oranges is TC = 10 + Q
and the marginal cost is constant at MC = $1. If you cannot
differentiate between customers in California and Oregon, and you
are forced to charge...
You manage a farm that is looking to sell oranges in both California and Oregon. The...
You manage a farm that is looking to sell oranges in both
California and Oregon. The demand for oranges in California is
given by PCA = 25 - 0.5QCA and the
demand for oranges in Oregon is POR = 19 -
0.3QOR. The total cost of selling oranges is TC = 10 + Q
and the marginal cost is constant at MC = $1. If you cannot
differentiate between customers in California and Oregon, and you
are forced to charge...
You manage a farm that is looking to sell oranges in bothCalifornia and Oregon.
You manage a farm that is looking to sell oranges in both
California and Oregon. The demand for oranges in California is
given by PCA = 25 - 0.5QCA and the demand for oranges in Oregon is
POR = 19 - 0.3QOR. The total cost of selling oranges is TC = 10 + Q
and the marginal cost is constant at MC = $1. If you can
differentiate between customers in California and Oregon, you
should charge a price of...
QUESTION 3 You manage a farm that is looking to sell oranges in both California and...
QUESTION 3
You manage a farm that is looking to sell oranges in both
California and Oregon. The demand for oranges in California is
given by PCA = 25 - 0.5QCA and the
demand for oranges in Oregon is POR = 19 -
0.3QOR. The total cost of selling oranges is TC = 10 + Q
and the marginal cost is constant at MC = $1. If you cannot
differentiate between customers in California and Oregon, and you
are forced...
A grocery store purchases bags of oranges from California to sell in their store. The weight...
A grocery store purchases bags of oranges from California to
sell in their store. The weight of a bag of California oranges is
normally distributed with a mean of 7.1 pounds and a variance of
1.21 pounds2. A bag of California oranges is randomly
selected in the grocery store.
(Round all probability answers to four decimal places.)
a. What is the probability that a randomly selected California
orange bag purchased by a customer weighs more than 8 pounds?
b. What...
A grocery store purchases bags of oranges from California to sell in their store. The weight...
A grocery store purchases bags of oranges from California to
sell in their store. The weight of a bag of California oranges is
normally distributed with a mean of 7.7 pounds and a variance of
1.21 pounds2. A bag of California oranges is randomly
selected in the grocery store.
(Round all probability answers to four decimal places.)
a. What is the probability that a randomly selected California
orange bag purchased by a customer weighs more than 8 pounds?
b. What...
Assume that you manage a firm that sells calculators. You want to sell calculators to both...
Assume that you manage a firm that sells calculators. You want
to sell calculators to both commercial users and home users, and so
you have developed 2 types of calculators - fancy and basic
calculators. Each customer type has the following valuations for
each type of calculator: Home User Commercial User Fancy Calculator
$100 $200 Basic Calculator $30 $50 If you have an 100 home users
and 100 commercial users that at most will buy 1 calculator each,
you will...
Assume that you manage a firm that sells calculators. You want to sell calculators to both...
Assume that you manage a firm that sells calculators. You want
to sell calculators to both commercial users and home users, and so
you have developed 2 types of calculators - fancy and basic
calculators. Each customer type has the following valuations for
each type of calculator: Home User Commercial User Fancy Calculator
$100 $200 Basic Calculator $30 $50 If you have an 100 home users
and 100 commercial users that at most will buy 1 calculator each,
how much...
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