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The local space museum has hired you to assist in setting admission prices. As the manager, you recognize that there are two distinct demand curves for admission. One applies to people ages 15 to 64 whereas the other is for children and senior citizens. The two demand curves are: P1 = 9.6 - 0.08Q1 (for adults) and P2 = 4.5 - 0.05Q2 (for children and senior citizens). The corresponding marginal revenue curves are: MR 1 = 120 - 25P1 and MR2 = 90 - 40P2 Crowding is not a problem in the museum, so the marginal cost is zero. Find the profit maximizing prices; the number of adults and children & senior citizens visiting the museum.
nbspthree oligopolists a b and c produce an identical product q. q is produced under conditions of constant costs
Alan Greenspan,chairman of the fed ,was the leading proponent of the view that it is too difficult , and potentialy too harmfull,topop a bubble by raising interest rates..if bubble emerged, better to quickly lower interest rates to cushion the blo..
Suppose that the market for gnomes is yet to reach equilibrium, and that the current price and quantity in the market for gnomes.
Write a summary for each minutes incloding what was the problem for each minutes and what did the committee decide to do about each minutes: each minutes in a seapret page
Identify the impact of the policy on demand or supply of the good(s) or service(s). Discuss the change(s) and draw a supply and demand graph
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among single college-educated women aged 22 - 25 average annual hours worked is 2160 and the average wage is 22.50. if
Consider the Sherwin-Williams Company example discussed in this chapter (seeTable 4.1). Suppose one is interested in developing a simple regression model with paint sales ( Y ) as the dependent variable and selling price ( P ) as the independent vari..
In the 1960s and 1970s, research funding by the U.S. government and some universities led to revolutionary advances in network computing. These advances in communication and network technology remained largely isolated to governmental and academic..
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