Given that the firm only chooses to sell the high-end professional series, 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
b
Economics
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Information can be thought of as a
A) non-economic piece of data. B) violation of the invisible hand idea that the pursuit of self-interest promotes social interest. C) good whose marginal benefit is infinite. D) good whose marginal benefit decreases as more information is acquired.
Economics
A friend of yours receives a government voucher for an apartment in a public housing project. This apartment represents
A) a government-sponsored good. B) the free-rider problem. C) a public good. D) the drop-in-the-bucket problem.
Economics