Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 11 Jun 2017 My Price 11.00

business selling lemonade

Vivek is in business selling lemonade. He has two customers, Mom (M) and Dad (D), and he essentially has a monopoly in this market (because, after all, he is their son). Vivek’s marginal cost of producing lemonade is $6 per cup, he has no fixed costs, and his parents’ individual demands for cups of lemonade are given as follows:

QM=24–P QD=24–2P.

  1. (a) Suppose Vivek can only charge one price to both of his parents. Calculate the price he charges (P*), the total quantity sold (Q*), and his profits (?*).

  2. (b) Now suppose Vivek can charge different prices to each parent if he so chooses. Calculate these prices (PM andPD),quantities sold (QM andQD),and his profits (?MD).

  3. (c) Now suppose again that Vivek can no longer distinguish between his parents, but instead he can charge each customer both a fee (A**) for the right to purchase any lemonade at all and a per-unit price (P**) for each cup of lemonade purchased. Calculate the prices he charges (P** andA**),the total quantity sold (Q**), and his profits,?**.

  4. (d) Suggest a different pricing strategy for which Vivek’s profits exceed those you calculated in (a)-(c). State any assumptions you are making. Calculate profits under this strategy.

Question 4

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Maurice Tutor
(5)
Status NEW Posted 11 Jun 2017 07:06 PM My Price 11.00

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