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!
The manager of a local movie theater believes that demand for a film depends on when the movie is shown. Early moviegoers who go to films before 5 pm are more sensitive to price than are evening moviegoers. With some market research, the manager discovers that the demand curves for daytime (D) and evening (E) moviegoers are QD = 100 − 10PD and QE = 140 − 10PE, respectively. The marginal cost of showing a movie is constant and equal to $3 per customer no matter when the movie is shown. This includes the costs of ticketing and cleaning.
a. Write down the aggregate demand function and graph the aggregate demand curve.
b. What is the profit maximizing pricing policy if the manager charges the same price for daytime and evening attendance? What is attendance in each showing and what is aggregate profit per day?
c. Now suppose that the manager adopts a third-degree price discrimination scheme, setting a different day and evening price. What are the profit maximizing prices? What is attendance at each session? Confirm that aggregate attendance is as in (b). What is aggregate profit per day?
Elucidate what other evidence could a manager look for to infer whether a market is in equilibrium. What are possible causes of the shortage.
In the long run, perfect competition results in firms producing a. at the minimum point of their long-run average cost curves, which indicates allocative efficiency b. where price equals marginal cost, which indicates economic efficiency c. where pri..
Given a binomial random variable with n = 60 and p = 0.36 find the probability of obtaining between 25 and 35 successes inclusive, to three decimal places.
Assume that demand for a commodity is represented by the equation P = 10 – 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium conditio..
If county government offices required that all employees must live within the county limits, what impact would this have on the elasticity of demand for employees of the county government offices?
In the economy of Qonos in 2102 investment was $1,611, GDP was $5,829, government spending was $1,521 and consumption was $1,694. What was Qonos's net exports in 2102?
Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run.
Joe has $16 to spend on Twinkies and Hohos. Twinkies are prices at $1 and Hohos are priced at $2 per pack.
State briefly the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly.
Assume that a firm employs labor and capital by paying $40 per unit of labor employed and $200 per hour to rent a unit of capital. What is the firm's optimal combination of capital and labor?
Describe the stakeholders involved in this ethical dilemma. What stake do they have in the situation? Are Bill's actions an ethical issue, a legal issue, or both? Explain your reasoning.
Minimum wage legislation requires most firms to pay workers no less than the legislated minimum wage per hor. Using marginal productivity theory, explain how a change in the minim wage affects the employment of unskilled workers.
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