What is live theaters total revenue function

Assignment Help Macroeconomics

Reference no: EM13232613

Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving an additional patron, either senior or everyone else, is equal to $4. Fixed costs are equal to $1000.

Ps = 80 - Qs
Pe = 100 - 2Qe

Where Ps and Pe denote, respectively, the prices charged to seniors and everyone else and Qs and Qe denote the number of seniors and the number of all other customers served.

What is Live Theaters' total revenue function? What is its total cost function? Its total profits function?

Reference no: EM13232613

Questions Cloud

Explain excess ammonia in diethyl ether : A sample of pure (1 chloroethyl) benzene had a specific rotation of 87.2 degrees, while pure R 1 chloro-1-phenyl ethane has a specific rotation of -109 degrees. This sample was reacted with excess ammonia in diethyl ether at 0 c.

How does information overload affect the consumers ability : How they are formed and give an example of this process in a marketing context. Further, describe the factors that can influence whether attitudes are more likely to predict behaviour.

What are the profit maximizing levels of price and output : Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving

Discuss role of values and norms in organizational culture : Discuss the role of values and norms in organizational culture. How would organization members go about changing the culture of an organization?

What is live theaters total revenue function : Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving an additional p..

Which three editions vista allow to join domain on network : Which three editions of Vista allow you to join a domain on a network

Discuss the differences between attitudes, moods and emotion : Discuss the differences between attitudes, moods, and emotions.

Explain rikeachs kinds of personal value : Explain Rikeach's kinds (categories) of personal value. Discuss five of the values from each of the categories.

Explain the acid dissociation constant ka equals : The acid dissociation constant Ka equals 1.26 x 10-2 for HSO4- and is 5.6 x 10-10 for NH4+. Which statement about the following equilibrium is correct? HSO4-(aq) + NH3(aq) = SO4 2-(aq)+ NH4+(aq)

User Account

All Pages