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Suppose there is a movie monopolist selling to students, adults, and seniors. The marginal cost of tickets is fixed at $7.00. The demand functions can be expressed as:
Q_s^d=1250-25P
Q_A^d=2000 -25P
Q_n^d=1500 -25P
–What prices will a monopolist set when it can discriminate? How much profit will the firm make?
–Suppose the firm would rather set up a two part tariff. What price would it charge students (in aggregate) while still keeping adults and seniors as customers? How much profit would it make?
Deer have become increasingly apparent in a rural county. Last year it was estimated that there were 40 breeding pairs (a deer must reach the age of 1 to breed). Do you think it is likely that the deer population in the county is increasing? Will the..
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Suppose that the inverse demand curve is: p(q) = a − bq, and the cost function is: c(q) = cq. How much consumer surplus is generated when the price is p*? How much producer surplus is generated at p* If the monopolist can only set a linear price (tha..
The manufacturers of information products typically
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Assume that you have an economy that is in the early months of a recession. Unemployment is 7.2% and rising. Inflation is at 1.2% and relatively stable at the level. Consider a policy based on Taxes. Develop a policy that will help get the economy ou..
Which of the following is not a recommended practice for designing multi-table queries?
A news article in the Edmonton Journal on December 2014 stated that, “The province is looking at cutting 70 of the Alberta Law Enforcement Response Team’s 280 positions to save money.” Explain the basic idea behind using a statistical instrument (or ..
AppsAlot is a small company that develops a variety of apps for smart phones. Management desires to raise $10 million in funds to initiate and continue various projects. With that funding, they project an earnings (net of all expenses except capital ..
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