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Economics

"Question Seven

(i) Suppose that DryMax is the only drycleaner in town, and it determines that men and women have different demand functions for drycleaning services. It determines that the demand functions are as follows:
Qw = 24 - Pw
Qm = 24 - 2Pm
where Pw and Pm are the prices it charges women and men respectively. Assume that the marginal cost and average cost for both groups is $6.

a. Find out the total revenue and marginal revenue functions for men and women.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9283025

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