Individual-round plan or the discount plan

Assignment Help Macroeconomics
Reference no: EM131046080

A local golf course's hired-gun econometrician has determined that there are two types of golfers, frequent and infrequent. Frequent golfers' annual demand for rounds of golf is given by Q f = 24 - 0.3P, where P is the price of a round of golf. In contrast, infrequent golfers' annual demand for rounds of golf is given by Q i = 10 - 0.1P. The marginal and average total cost of providing a round of golf is $20.

Which plan will generate the greatest consumer surplus for frequent golfers, the individual-round plan or the discount plan? Illustrate your answer by showing. and measuring the areas of surplus on frequent golfers' inverse demand curves.

Reference no: EM131046080

Questions Cloud

Principal health and safety act : Each State and Territory has a principal health and safety Act which sets out requirements for ensuring that workplaces are safe and healthy. These requirements spell out the general responsibilities of different groups of people who play a role i..
What are the degrees of freedom for gender : The table depicts a two-way ANOVA in which gender has two groups (male and female), marital status has three groups (married, single never married, divorced), and the means refer to happiness scores (n = 100): What are the degrees of freedom for ge..
Write a reasearch paper about relegious reviews on suicide : Write a reasearch paper about "Relegious reviews on suicide".  Your report should (1) analyze and evaluate the background of your issue.
Construct the intersection graph : Construct the intersection graph of these collections of sets: and Construct the intersection graph of these collections of sets
Individual-round plan or the discount plan : Which plan will generate the greatest consumer surplus for frequent golfers, the individual-round plan or the discount plan? Illustrate your answer by showing. and measuring the areas of surplus on frequent golfers' inverse demand curves.
Research the work health safety act : Each State and Territory has a principal health and safety Act which sets out requirements for ensuring that workplaces are safe and healthy. These requirements spell out the general responsibilities of different groups of people who play a role i..
Evaluate different aspects of organizational change : Evaluate different aspects of organizational change. Discuss the role that leader vision and organizational climate plays in a change management strategy.
Basic charge against microsoft by the government : Answer all the following questions. Provide specific examples to support your answers. What was the basic charge against Microsoft by the government?
Describe what it means to prove something : In your own words, describe what it means to prove something. Compare and contrast how proving something in mathematics may be different from proving something in your everyday interactions

Reviews

Write a Review

Macroeconomics Questions & Answers

  Illustrate the stated direction of recent monetary policy

Illustrate the stated direction of recent monetary policy. What recent actions have the Federal Reserve taken to confirm that direction

  Illustrate what exactly is the federal reserve

Two articles Fed Official Expects Growth also Are Inflation Expectations Rising from the Ashes. Illustrate what exactly is the Federal Reserve.

  Fiscal policy also decrease the dollar like monetary policy

Fiscal policy also decrease the dollar like monetary policy.

  Determine the marginal rate of substitution mrs

There are two goods 1 and 2. Denote the consumption bundle consisting of x1 units of good 1 and x2 units of good 2.Write down the equation for the indierence curve that passes through the consumption  bundle.

  What are the trade-offs that bag by faces in chooseing

Baby copy company is a worldwide producer of copy machines. It manufactures 10 different copieers, ranging from low-end desktop copiers that sell for a few hundred dollars to high volume document machines that retail for over $200,000.

  What are the pros and cons of different policy measures

Discuss the options available to the government when trying to offset a recession by stimulating the economy. Consider both fiscal and monetary policies. What are the pros and cons of different policy measures.

  Which basic principle of individual choice does th sentence

Statsia has only 20 hours per week that she can devote to trainingfor her race." which basic principle of individual choice does this sentence bestillustrate?

  What factors other than income are likely to affect willing

Is it price discrimination when a professional football team charges say,$150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone?

  Describe the demand and marginal revenue curves

The demand and marginal revenue curves faced by a firm in a purely competitive market. they different from those faced by a firm in oligopolistic competition.

  Short and long run viewpoint

The airline has an average of 40 passengers paying an average of $200 for this flight.  Do you think the airline should be flying between the two cities? Evaluate from a short-run and long-run perspective.

  Why do you suppose the federal government gives special

Why do you suppose the federal government gives special treatment to owners of fertile farmland rather than, say, automobile mechanics?

  Why is a depreciation of a country currency not necessarily

Why is a depreciation of a country currency not necessarily a bad thing? Why is a country's appreciation of its currency not necessarily a good thing?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd