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Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving an additional patron, either senior or everyone else, is equal to $4. Fixed costs are equal to $1000.
Ps = 80 - QsPe = 100 - 2Qe
Where Ps and Pe denote, respectively, the prices charged to seniors and everyone else and Qs and Qe denote the number of seniors and the number of all other customers served.
What are the profit maximizing levels of price and output if Live Theaters, Inc. engages in third degree price discrimination? Show that MRe = MRs = MC
Night Timers chief engineer anticipates that the product will be sold in ten-foot rolls. At present, the company's maximum production capacity is 140,000 rolls per year. The engineer believes the cost function to b be described by C= $50,000 + 0.2..
Simplify depreciation to be calculated as straight line over 30 years. It will be financed with a 30 year loan at 8% interest compounded annually with annual payments. It will be sold at the end of year 15 for $300,000, at whi..
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If player 1 moves right, player 1 receives $0 and player 2 receives $15. If both players move left, player 1 receives -$10 and player 2 receives $8. If player 1 moves left and player 2 moves right, player 1 receives $10 and player 2 receives $10.
England and Scotland both produce scones and sweaters. Suppose England can produce 50 scones per hour or 1 sweater per hour. Suppose Scotland can produce 40 scones per hour or 2 sweaters per hour. Before trade England produces 25 scones and 0.5.
The price of a cone is expressed in cents, and the quantities are expressed in cones per day. a. Create demand & supply tables corresponding to these equations. b. Graph supply and demand and determine equilibrium price and quantity
Five members in a family own a farm in rural Mexico. 2 people = $1600 TFO. 3 people =$3000 TFO. 4 people = $2300 TFO and 5 people = $2500 TFO. Each member has the opportunity to migrate to the nearest city where there are two different types of job..
Cindy consumes goods x and y. Her demand for x is given by x(px, m) = 0.05m -5.15px. Now her income is $419, the price of x is $3, and the price of y is $1. b. Compute the demand of x under the new price.
Suppose the demand for Cardinal's World Series tickets is Qd = 48, 061 ? 2.4P (for the purposes of this problem, we will suppose that fans do not care where they sit). The Cardinals play at Busch Stadium, which has a seating capacity of 46,861. Th..
The two sample sizes were 12 for children under 12 and 15 for children 13 to 17 years of age. Further, the standard deviation for children under 12 was 51.7, while the standard deviation for children 13 to 17 of age was 67.6.
Suppose the store's loading dock faces the entrance of a campus building and the discarded boxes and paper (till they are cleaned out at a particular time of the day) generates a negative externality on the students. The marginal cost due to exter..
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