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Could you please help me to solve the following economics question?
"Universal Studios has decided to open a new theme park called Universal Studios Indiana. It will feature the usual attractions other Universal Studios theme parks have. Universal Studio's economists have estimated that the park will attract 100,000 people per day, and each person will take q = 50 - 50P rides, where P is the price per ride. Everyone who visits Midwest Disney is the "same" person and the marginal cost of each ride is essentially zero (so, treat MC ride=0).
Suppose that Universal Studios decided to charge an entry fee. Universal Studios could still charge for rides after the entry fee, but not necessarily. What is Universal Studio's profit maximizing entry fee and price per ride? How many rides does each visitor take? What is the profit per visitor (ignore fixed costs)?"
Consider the market for van gogh paintings and assume no forgeries are possible. Is the supply of van gogh prelatively elastic, relatively inelastic, unitarily elastic, perfectly elastic, or perfectly inelastic?
Use internet or printed publications to identify example of Increase in Demand.
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Locate where the software is installed and list the applications that are included in the installed Microsoft Office Suite.
During this internship/externship, you were required to interact with Career Services. Share your experiences, positive or negative, on what you have built through this interaction. To obtain full credit for this Assignment, you must answer the avail..
Which of the following would not occur as a result of a monopolistically competitive firm suffering a short-run economic loss?
Suppose that there is an exogenous unexpected decline in consumption spending by households. Use the IS-LM, AD-AS model to derive the short-run and long-run effects on i, P, and Y.
Explain how much he finishes up paying each provider every month. Explain how much customer extra he obtains with each provider.
J. M. Keynes wrote.” If the Treasury were to fill old bottles with banknotes, Bury them in disused coal mines, and leave it to private enterprise to dig the notes up again, there need be no more unemployment and the real income of the community would..
Explain what is meant by the idea of an “optimum-size firm.” What forces would make firms in one industry on average larger than firms in another industry (e.g. grocery stores are generally much larger than beauty parlors)?
Ponder this immigration reform: US citizens are given the right to sell their citizenship to whomever they choose at whatever price they can get. Someone who has sold her US citizenship is no longer permitted to remain in the US without an appropriat..
In recent years the States of Colorado and Washington have (for all practical purposes) legalized the recreational use of marijuana. Both advocates and opponents claimed that such laws would have observable effects on public revenues and expenditures..
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