I need help on question ii. Market Demand Porsche Spyder 1,050,000 1 Fred 1.000.000 Michel 950.000,-...

Question

Question

Market Demand Porsche Spyder 1,050,000 1 Fred 1.000.000 Michel 950.000,- Hua 900.000 Carlos Up 850.000 - John 800,000 Price (

If the price of a Spyder drops to $700,000, Instructions: Enter your responses as a whole number a. How many Spyders can be s

I need help on question ii.

Answer 1

Answer #1

Ans:

c.

ii.

If maximum price each buyer willing to pay is charged then total revenue will be:

1000000 + 950000 + 900000 + 850000 + 800000 + 750000 + 700000

= $5,950,000.

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Answer 2

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