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You run a chain of movie theaters, so you commission a marketing study that categorizes your potential customers into 10 equal-sized groups according to what they’re willing to pay for a movie ($10, $9, $8, $7, $6, $5, $4, $3, $2, $1). It turns out that the low-value customer groups, those with values ($5, $4, $3, $2, $1), are all over 65 years old. All the costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold. What price should you charge for movie tickets? Should you offer senior citizen discounts? If so, how much?
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
In a two–player, one shot simultaneous – move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $500. If both players choose strategy B, each earns a payoff of $100. If player one chooses ..
Determine the minimum sample size to construct a 90% confidence interval for the population mean. Assume the population standard deviation is 1.2 years.
q1. in a perfectly competitive firm when you have a table which gives quantity cost total costs explain how can you
His uncertainty about total sales of the book can be represented by a random variable with a mean of 30,000 and a standard deviation of 8,000. Find out the mean and standard deviation of the total payments he will receive.
Supply and demand for corn. At $2.13 per bushel, the annual supply for corn in the Midwest is 8.9 billion bushels and the annual demand is 6.5 billion bushels. When the price falls to $1.50 per bushel, the annual supply decreases to 8.2 billion bus..
The _____ statement can contain both a review of the evidence and an attack of the other side’s case.
Explain briefly why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this situation.
Problem 1: Shelly's preferences for consumption and leisure can be expressed asU(C, L) = (C - 200) * (L - 80). There are 168 hours in the week availableto split between work and leisure. Shelly earns $5 per hour after taxes. She alsoreceives $320 ..
A large bank has assets that include $100 million in vault cash and $1 billion on deposit at the Federal Reserve Bank. Its liabilities include $1 billion ($109) in checkable deposits. What are the excess reserves, if any?
in a study available in 1980 b. b. gibson estimated the subsequent price and income elasticity of demand for six types
q. mining is proposed for a wilderness area that provides two benefits recreation due to backpacking opportunities and
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