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The owner of the sole stage-theatre in the city of Vordervilla has found through experience that the cost of running his 600-seat theatre remains virtually the same irrespective of whether there is a 'full house' or not.
The owner wishes to maximise his profits and has estimated that the demand curve of adults for the theatre can be represented by the function QA = 1000 - 50P, whereas the demand curve of children is given by QC = 600 - 50P.
Assume that the owner chooses not to price discrimination and must therefore sell all tickets at the same single price. What will that price be per ticket? What will be the ratio of adults to children attending the theatre?
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
elasticity of demand
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
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Analysis of business portfolio by using Boston Consultant Group (BCG) Matrix.
write name and symbol of element from s-block that has zero oxidation state?
What are markets types of markets
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economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
Supply and demand for a given type of MP3 player are given by the following equations: P=980-1.5Qd P=20+0.9Qs
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