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What price should it charge in the residential market

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Reference no: EM13758311

The firms objective is to maximize total revenue. To maximize total revenue

1. What quantity should it see in the residential market and the commercial?

2. What price should it charge in the residential market?

RESIDENTIAL MARKET

 

OVERALL

PRICE (P(R))

$40.19

 

P(R) - P(C)

$32.72

QUANTITY (Q(R))

1500

 

MR(R)-MR(C)

$6.85

MR(R)

$11.17

 

Q(R)+Q(C)

3,000

TR(R)

$60,286

 

TR(R)+TR(C)

$71,497

 

 

 

 

 

COMMERCIAL MARKET

 

 

 

PRICE (P(C))

$7.47

 

 

 

QUANTITY (Q(C))

1500

 

 

 

MR(C)

$4.32

 

 

 

TR(C)

$11,211

 

 

 

Reference no: EM13758311

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