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Use the following table of Consumer willingness to pay to answer questions 13-16. Assume the cost of producing the goods is zero.

Consumer A Consumer B

Good 1 $4500 $5,000

Good 2 $1,500 $1,000

Suppose the monopolist only sold the good separately. What price will the monopolist charge for Good 1 to maximize revenue for Good 1?

Suppose the monopolist only sold the good separately. What price will the monopolist charge for Good 2 to maximize revenues for Good 2?

What is the total profit to the monopolist from selling the goods separately?

What is a better pricing strategy for the monopolist? At this price, what are the total profits to the monopolist?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91845107

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