Use the following table for question

-Given that the firm wants to sell both the versions,how much surplus does buying the no-name brand give the professional chefs?
A)$30
B)$40
C)$50
D)$60

Question

​Use the following table for question
 
-Given that the firm wants to sell both the versions,how much surplus does buying the no-name brand give the professional chefs?
A)​$30 
B)$40 
C)$50 
D)​$60

Quizplus · Accepted Answer

The surplus for professional chefs buying the no-name brand is calculated as the difference between the value they place on it and the price they pay. If the firm wants to sell both versions, the price of the no-name brand is set to ensure both are sold, typically at the value the non-professional chefs place on it. Assuming the value to professional chefs is $100 and the price is $70, the surplus is $30.

​Use the Following Table for Question -Given That the Firm Wants to Sell Both the Versions,how

Use the Following Table for Question -Given That the Firm Wants to Sell Both the Versions,how