Business, 03.12.2019 02:31 bellsbella34
Kanga is planning to open a new café in the hundred acre wood called roo's roost. kanga's business model is to set a cover charge for all-day admission to the café where she'll sell cups of strong coffee and the customers themselves will provide hours of entertaining caffeine-fueled conversation. each of the characters in the hundred acre wood has a utility function for coffee, x, and money spent on other things y, given by u(x, y) = 24x - x + y. each character has at least $1,000 and can afford to buy what they want. kanga finds that coffee will cost her $2 per cup.
1) calculate each character's demand function for coffee.
2) sketch in each character's demand function for coffee, labeling the axis intercepts. also sketch in kanga's marginal cost curve, labeling any axis intercepts
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Kanga is planning to open a new café in the hundred acre wood called roo's roost. kanga's business m...
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