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Suppose adults have the demand curve p=30-(2/5) quantity for tickets to local community theater. Children have a demand curve of p=10-(1/5) quantity. Furthermore, marginal cost = average cost = 4
1) Determine the price charged and number of tickets sold in each separate market. Draw a graph for each market.
2) Determine the total consumer surplus and the total producer surplus; Label these areas on your Graph.
3) Now, assume the theater wants to charge a single, uniform price in both markets. Draw a graph of the combined demand, and show the uniform price charged and total amount sold as well as the total consumer and producer surplus.
4) Determine consumer surplus, producer surplus with a uniform price. Label these areas on the graph.
5) Which pricing method does the producer prefer?
(y=-1.4282+8.7243(1/x)\) using the given average values for y and x of 4.8% and 1.5%, respectively what is the rate of change at these mean values
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the demand for the bus 207 textbook qx is given by the following equationqx 100 - 5.0 px 1.5 py - 2 pz 4.7
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suppose the consumer has 100 to spend on consumptionnow c1 or consumption next year c2. any money not spent now can be
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