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Price discrimination is a pricing strategy whereby a firm's prices for the same or very similar goods vary for customers in different markets. This can help the firm attain more profits compared to charging a single price. For example, a movie theather may offer a discount to students but charge non-studnets a higher price. Suppose you are a consultant to American Airlines. How would you use price discrimination to get the most profits from your customers? Use the concepts such as total revenue, marginal revenue, total cost and marginal cost, and the theory of profit maximization to argue your strategy.
1) Do you have to be a monopoly to engage in price discrimination? Explain.
2) How one would use price discrimination to get the most profit from customers? Explain.
3) Explains why one does or does not have to be a monopoly to engage in price discrimination.
4) Presents a strategy argument that includes the concepts of total revenue, marginal revenue, total cost and marginal cost, and the theory of profit maximization.
John and Deanna are married with two children. Both adults have college degrees, but Deanna has chosen not to enter the labor force, while John has worked continuously for 10 years. Suppose Deanna decides to enter the labor force and gets a job with ..
Analyze the following ideas graphically and explain any fallacies that may be stated. An increase in demand will cause price to rise, with a rise in price, supply will increase and the increase in supply will push price down. Therefore, an increase i..
How much does the airport need to set aside now to pay for these costs, if the company can earn 10% per year, compounded every 4 months?
Elucidate how closely do real world conditions match the charateristics listed in the model. Do they compete using price. Is the good in question standardized.
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Consider a perfectly competitive industry in which the inverse demand is given by p(y)=2001-2y and each firm has the following cost function : c (y)=(1/3)y^3+18 for y>0, c(y)=0 for y=0., In the long-run equilibrium, what price will be charged for the..
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q1. if consumption increases by 12 billion when real disposable income increases by 15 billion what is the value of the
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