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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 - QsPe = 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?
exchange economy with two goods x,y. Person A has 16 units of x and no y; B has 4 x and 40 y, Ua(x,y)= x(^1/3)Y(^1/9) Ub(X,Y)= X^(2/3)Y(^1/9) 1) the demands for goods x and y for both persons. 2)state the conditions for market equilibriumeral.
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A firm has fixed cost of $100 and average variable cost of $5 X Q, where Q is the number of units produced. a. Construct a table showing total cost for Q from 0 to 10 b. Graph the firm's curves for marginal cost and average total cost.
In the Ricardian model, everyone seems to benefit from trade. However, the Heckscher-Ohlin model seems to show that some lose from trade as well. Who are the losers in the HO model and how do they not benefit from trade
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