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As a manager of a chain of movie theaters that are monopolies in their respective markets, you have noticed much higher demand on weekends than during the week. You therefore conducted a study that has revealed two different demand curves at your movie theaters. On weekends, the inverse demand function is P = 15 - 0.001Q; on weekdays, it is P = 10 - 0.001Q. You acquire legal rights from movie producers to show their films at a cost of $20,000 per movie, plus a $2 "royalty" for each movie-goer entering your theaters (the average moviegoer in your market watches a movie only once). Devise a pricing strategy to maximize your firm's profits.
Elucidate how your explanation differs from the explanation for the downward sloping demand curve for a single product.
Explain how a firm in a competitive market identifies the profit-maximizing level of production. When should the firm raise production, and when should the firm lower prodcution?
If it is good for comunity for people to own their own homes, home ownership should be subsidised with special tax advantages or subsidies.
Discuss perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings. Additionally, how does the proliferation of global trade and competition contribute to markets moving more awa..
A South America nation with fixed exchange rate system has close economic ties with the USA symbolized by extensive trade.
In this larger geographic market, the firm's market share is low. Therefore, the defense claims, the firm does not have the market power necessary to carry out anticompetitive practices or to make them worthwhile.Offer a critique of the firm's arg..
The Bureau of Labor Statistics announced that in February 2008, of all adult Americans, 145, 999,000 was employed, 7,381,000 were unemployed, and 79,436,000 were not in labor force.
Suppose Congress wishes to reduce the budget deficit by reducing government spending. Use the IS-LM model to illustrate graphically.
The Lexus LS 430, the top of the line Lexus sedan, riad a base price in Canada of C$85,700 during the fall of 2005. Restated in US dollars using the exchange rate prevailing then, that price is $71,885.
Imagine two naton , Glacierland, and Swampland. Glacierland is producing everything at a lower absolute cost than Swampland. If the two countries trade what is the reason.
How does high income inequality suppress economic growth. With respect to social conflict, credit constraint on the poor, "poor person" median voter, less developed countries have more children, etc.
In 1988, Du Pont's fiber division introduced a new incentive program for its 20,000 employees, including both management and lower-level employees. The novelty of the program was that a portion of the employees' annual pay (approximately 5%) would..
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