Sorry but let suppose we have two groups Professional and Amateurs. Professional will pay 2 for the Gold and 3/2 for the Basic. Amateur will pay 1 for the Gold and 1/2 for the basic. In this case how can I proceed in order to have the Pro buying the Gold and the Amateurs buying the Basic. Following the steps I end up with a solution were both groups have consumer surplus equal to 0 for both versions so I can't ensure the condition. Is it possible to find a solution?
This video literally saved me before my exam tomorrow, thank you so much!
Thank you for being really clear and organized with your wording! Didn't make sense in micro.
Very helpful, thanks a lot
If we had a MC of $30, where would we multiply that? Also, love the explanation, made it very easy to understand.
When you calculate the profit, you would subtract the $30*quantity from your revenue.
Sorry but let suppose we have two groups Professional and Amateurs. Professional will pay 2 for the Gold and 3/2 for the Basic. Amateur will pay 1 for the Gold and 1/2 for the basic. In this case how can I proceed in order to have the Pro buying the Gold and the Amateurs buying the Basic. Following the steps I end up with a solution were both groups have consumer surplus equal to 0 for both versions so I can't ensure the condition. Is it possible to find a solution?