Business, 20.12.2019 20:31 jackfrost5

Joss is a marketing consultant iris and daphne are potential customers interested in commissioning joss to undertake a market survey and compile the findings in a report. iris is willing to pay $500 for the service while daphne is willing to pay $800. suppose that the opportunity cost of joss's time is $1, 200. assume that iris and daphne do not know each other. which of the following statements is true?

(a) joss should charge each customer $600, that way he will earn his opportunity cost and it will be fair to both iris and daphne.
(b) joss should charge iris $500 and daphne no more than $700, that way he earns his opportunity cost and there is no loss in economic surplus.
(c) joss should charge iris $500 and daphne $800, that way economic surplus is maximized.
(d) joss should charge iris $500 but charging daphne $800 is unfair because it allows joss to earn more than his opportunity cost.

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