What is the firms revenue at a price

Reference no: EM133630063

Question: Let's stick with the same smartphone producer from the previous example. If the firm reduces its price slightly, it finds that there are no additional customers willing to purchase a phone at $490, or $450, or $400, etc. At a price of $200, however, two new customers would buy the smartphone (in addition to the customer with a WTP of $500). What is the firm's revenue at a price of $200?

Reference no: EM133630063

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