Use the following table for questions 7-10 Carving knives Home users Professional Chefs No-name brand $40 $70 High-end professional series $60 $130 Given that the firm wants to sell both the versions, how should it price its products to have the users self-sort themselves profitably?

Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter8: Output, Price, And Profit: The Importance Of Marginal Analysis
Section8.A: Appendix The Relationships Among Total, Average, And Marginal Data
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Use the following table for questions 7-10

Carving knives

Home users

Professional Chefs

No-name brand

$40

$70

High-end professional series

$60

$130

Given that the firm wants to sell both the versions, how should it price its products to have the users self-sort themselves profitably? 

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