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Movie theaters, airlines, and many other businesses like to charge customers different prices based on time of the day, age, and purchase dates. Why?
Provide an example of the price discrimination for good or service which you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
Describe each of the subsequent using supply and demand diagrams.
Burger Doodle is the fast-food restaurant that processes average of 680 food orders each day. Evaluate the average product cost
Assume that the monopoly faces the inverse market demand function: What should be the monopoly's profit-maximizing output?
Airlines practice price discrimination by charging leisure travelers and business travelers different prices. Different customers pay varying prices for essentially the same coach seat because some passengers qualify for discounts and others do no..
Consider the preferred prices of the authors and publishers of the electronic book, whose marginal cost of production is close to zero? Would the two disagree regarding the price to be charged for book?
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
Derive the firm's supply curve, expressing quantity as a function of price. Determine the market supply curve if North Carolina Textiles is one of 1,000 competitors. Compute market supply per day at a market price of $47 per unit.
Give an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
Consider the price-taking firm in competitive industry for raw chocolate. The market demand and supply functions for raw chocolate are estimated to be
Describe the difference between movement along the demand curve and a shift in demand. Provide an example to help the class understand the difference between the two.
The industry has been very fragmented, so that few companies have the financial backing to make heavy investments in new technology and equipment.
Illustrate out the term game theory? describe it with the situation in which game theory is applicable, along with any description of the two rival's strategies.
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