Single price profit maximizing strategy

Assignment Help Business Economics

Reference no: EM131247477

Many service industries such as restaurants, night clubs, movie theatres, and hair dressers experience much higher demand during weekends compared to weekdays. Explain a pricing strategy which would increase profits compared to a single price profit maximizing strategy. Be sure to include a graph which explains your demand, marginal revenue, and marginal cost.

Reference no: EM131247477

Questions Cloud

When should the company dispose of his payroll records : Brad terminated his employment on December 11, 2015. Review your state's requirements for document retention (search the available resources for educational and governmental record retention). When should the company dispose of his payroll records?

Accounting software system for accounting and payroll : Upon starting a new job in a company that has 70 employees, you notice that the company has been using manual accounting records and has retained every record since the business started 15 years ago. Your boss has asked you to recommend an accounting..

Calculate profit-maximizing price and quantity of manuals : Assume that a monopoly has a linear demand curve. If it is charging the profit maximizing price, will the demand for its product at that price be elastic or inelastic? Explain fully. Calculate the profit-maximizing price and quantity of manuals.

The expected profits from a single price strategy : You have been asked by your boss to report on the expected profits from a single price strategy compared with a two-part pricing strategy. The estimated demand for the firm’s product is: Qd= 400 - 0.2PPer unit cost is estimated as constant at $1,00..

Single price profit maximizing strategy : Many service industries such as restaurants, night clubs, movie theatres, and hair dressers experience much higher demand during weekends compared to weekdays. Explain a pricing strategy which would increase profits compared to a single price profit ..

What are the different kinds of price discrimination : Explain why a monopolist can increase profits by practising price discrimination compared with using a single price to maximize profits? What are the different kinds of price discrimination? What are the necessary conditions required for a monopolist..

The elasticity of demand of texans for a car wash : You are the manager of a gas station in a small town in the United States, and your goal is to maximize profits. Based on your experience, the elasticity of demand of Texans for a car wash is –2, and that of non-Texans is –1.5. Your marginal cost is ..

Produces both dark chocolates as well as liquor chocolates : Choco Dream is a firm that produces both dark chocolates as well as liquor chocolates. During a given? month, the firm uses its resources to produce both varieties.? Initially, the firm produced? 5,000 bars of dark chocolates and?4,000 bars of liquor..

How the goods and services will be? produced : What goods and services will be? produced, how the goods and services will be? produced, and who will receive the goods and services are? determined:

User Account

All Pages