Air transport for businesspeople and tourists

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Reference no: EM135349

Q1. "When the firms in the industry are just able to cover their cost of production, economic profit is 0. Consequently, if demand decreases, source prices are also decreases even a little bit, all of firms in industry will be focused out of business." Is it True or false? Explain.

Q2. For each of the following examples, explain why and how a Monopolist would try to price discriminate:

a) Air transport for businesspeople and tourists.

b) Serving food on weekdays to corporate people and retired people.

c) A theatre that shows the same movie to large families and to individuals and couples.

Reference no: EM135349

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