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1. The Swamp holds about 90,000 spectators. With ticket prices at $90, the average attendance is 70,000. When the ticket prices are lowered to $85, the average attendance rises to 75,000.
a) Assuming linearity of the demand curve, how should ticket prices be set to maximize revunue? what is the maximum revunue?
b) Suppose The Swamp has a cost function of C(x)=5x+100,000 each game. How should ticket prices be set to maximize profit? What is the maximum profit? (Use your Revenue function from (a)).
2. Suppose you are offered just one slice from a round pizza (in other words, a sector of a circle).The slice must have a perimeter of 32 inches. What diameter pizza will reward you with the largest slice? Specify the diameter and the maximum area of the slice.
Assess the role of the Federal Reserve in mitigating the negative impact of the 2008 financial meltdown on the economy.
How does price discrimination help cover fixed costs?
Duopoly quantity-setting firms face the market demand p = 150 − q1 − q2. Each firm has a marginal cost of $60 per unit. What is the Nash- Cournot equilibrium?
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Direct investment inflows by foreigners into the United States have been sizable in recent years. How might this net inward movement of capital affect the level and pattern of U.S. trade according to the Heckscher-Ohlin model? The level of world outp..
In the simple linear regression model yi = βˆ 1 + βˆ 2xi + ˆei , where E(ˆei) 6= 0. Show that the model can always be written with the same slope, but a new intercept and error term that does not violate the property that E( ˆei) = 0.
Assume to a program is implemented that guarantees college tuition assistance to students maintaining a minimum GPA standard.
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