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?

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter3: Your Role As A Consumer
Section: Chapter Questions
Problem 5AA
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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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