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A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 60 - 0.25P, and the marginal cost of production is $80.
a. Determine the optimal number of units to put in a package.
of units= _____ units
b. How much should the firm charge for this package?
$______
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Irish is on the Venice Strip in Los Angeles selling necklaces. He is one of over 100 necklaces suppliers on the Venice strip, and there are naturally many potential buyers that stroll along the strip every day. Futhermore, for the average person, Iri..
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