Given that the firm only chooses to sell the no-name brand, how should it price its product?
a. Price low, sell to both users
b. Price high, sell only to the professional chefs
c. Price low, sell only to the professional chefs
d. Price high, sell only to the home users
a
Economics
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Refer to Scenario 13.15. If the firms price simultaneously, equilibrium would be
A) an $80 price for Simple and a $70 price for Boring. B) an $80 price for Simple and a $25 price for Boring. C) a $35 price for Simple and a $70 price for Boring. D) a $35 price for Simple and a $25 price for Boring. E) a mixed strategy equilibrium.
Economics
The production function has ____ on the horizontal axis.
A. real GDP B. capital stock C. technology D. labor input
Economics