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The Snow City Ski Resort caters to both out-of-town skiers and local skiers. The demand for ski tickets for each market segment is independent of the other market segments. The marginal cost of servicing a skier of either type is $12. Suppose the demand curves for the two market segments are: Out of town: Qo = 60 - P Local: Ql = 60 - 2P
a. If the resort charges one price to all skiers, what is the profit-maximizing price? Calculate how many lift tickets will be sold to each group. What is the total profit?
b. Which market segment has the highest price elasticity at this outcome? Explain.
c. If the company sells tickets at different prices to the two market segments, what is the optimal price and quantity for each segment? What are the total profits for the resort?
d. What techniques might the resort use to implement such a pricing policy? What must the resort guard against, if the pricing policy is to work effectively? Explain effective pricing strategies.
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Illustrate what is the equilibrium to this game.
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Consider data on U.S. Pizza Sales from 2005. The market shares of the top 4 firms was 17% for Pizza Hut, 11% for Domino’s, 6% for Papa John’s, and 2.5% for Little Caesars. Firms 5 through 25 combined summed to 14.5%, and all other independents outsid..
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Sam borrowed $10,000 with a promise to repay the loan in 6 years with a uniform monthly payment and a single payment of $1,000 at the end of six years at a nominal interest rate of 12% per year. What is the amount of each payment? What is the amount ..
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