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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?
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
demand for two market are P1=15-Q1&P2=25-Q2.the monopoly TC is C=5+3(Q1+Q2).What are ,output,profit&MR if the monopolist can price disc? riminate
How to use Demand and Supply tools to analyze the case of the Egyptian labor market?
which is the following is an example of a firm''s derived demand?
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Problem: (a) Consider the Classical Linear Regression Model (CLRM) Y i = α + βX i + ε i (i) Using the method of ordinary least squares (OLS), derive an expression for
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