Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose adults have the demand curve p=30-(2/5) quantity for tickets to local community theater. Children have a demand curve of p=10-(1/5) quantity. Furthermore, marginal cost = average cost = 4
1) Determine the price charged and number of tickets sold in each separate market. Draw a graph for each market.
2) Determine the total consumer surplus and the total producer surplus; Label these areas on your Graph.
3) Now, assume the theater wants to charge a single, uniform price in both markets. Draw a graph of the combined demand, and show the uniform price charged and total amount sold as well as the total consumer and producer surplus.
4) Determine consumer surplus, producer surplus with a uniform price. Label these areas on the graph.
5) Which pricing method does the producer prefer?
Taxicab fares in most cities are regulated. Several years ago, taxicab drivers in Boston obtained permission to raise their fares 10 percent, and they anticipated that revenues would increase by about 10 percent as a result.
Suppose one of the firms with a 10% market share announces plans to buy the firm with the 20% market share. Calculate the post-merger HHI. Is it likely that the U.S. Department of Justice will challenge the merger
Maritime Insurance Company offers insurance policies for recreational boats. A typical policy will pay the replacement cost of $25,00 if the boat is a total loss.If the boat is not a total loss but the damage is more than $10,000 the policy pays $..
(a) Consider a firm with the following production function. Q = 2*L*L + K*K. The price of capital (K) is $100 and the price of labor (L) is $50. The marginal product of labor is 4L and marginal product of capital is 2K.
A transportation engineer received a request to installed dynamic traffic signals to replace static vehicle control devices at an intersection. The engineer must prepare an estimate of an operating budget for a ten year period, if the signal were ..
Estimate a logit model to predict delinquencies in terms of the other variables in the data set. Enter McFadden's R-squared in the box below.
Matt and Johnny both purchase pop and chips at the same convenience store. They have different tastes for pop and chips, so Matt buys 3 cans of pop and 10 bags of chips whereas Johnny buys 15 cans of pop and 2 bags of chips.
Advice for an Unprofitable Firm. You've been hired as an economic consultant by a price-taking firm that produces baseball caps. The firm already has a factory, so it is operating in the short run.
A local restaurateur whose business had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer, wine and spirits at the restaurant. The license cost $75,000. While the license is transferable
Based on the change in labor statistics between the two years, make a short assessment with regard to the state of the economy between the two years. 2001: lobor force participation rate 65.9 %, unemployment rate 7.22%,
Thompson Mechanical Product is planning to set aside $150,000 now for possibly replacing its large synchronous refiner motors whenever it becomes necessary. If the replacement is not needed for 7 years, how much will the company have in its invest..
If the cost function for John's Shoe Repair is C(q) = 100+10q-q^2+(1/3)q^3, what is the firm's marginal cost function What is its profit maximizing condition if the market price is p What is its supply curve
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd