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What is beth profit-maximizing price

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Beth is a second-grader who sells lemonade on a street corner in your neighborhood. Each cup of lemonade costs Beth $0.40 to produce; she has no fixed costs. The reservation prices for the 10 people who walk by Beth's lemonade stand each day are listed in the following table. Beth knows the distribution of reservation prices (that is, she knows that one person is willing to pay $2.00, another $1.80, and so on), but she does not know any specific individual's reservation price. b. What is Beth's profit-maximizing price?

Reference no: EM132484451

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