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For each of the following examples, explain how and why a monopoly would try to price discriminate.
1) Air transport for businesspeople and tourists.
2) Serving food on weekdays to businesspeople and retired people. (Hint: Which group has more flexibility during a weekday to adjust to a price change and, hence, a higher price elasticity of demand?
3) A theater that shows the same movie to large families and to individuals and couples. (Hint: For which set of people will the overall expense of a movie be a larger part of their budget, so that demand is more elastic?)
the buyer values and seller costs for another experiment in which students are buying and selling used textbooks. In this experiment, the seller pays the tax. Suppose that traders who are indifferent between trading and not trading go ahead and trade..
Suppose that Neptune Music has the copyright to the latest CD of the heavy Iron Band.Production requires a fixed cost of $100,000 and a constant marginal cost of $2 per unit.
Describe how price regulation may improve the performance of monopolies. In your answer distinguish between socially optimal pricing and fair return pricing.
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Find Marens consumption in the two periods ( as a function of m1,m2 and r)3) If the interest rises, how will Maren chanhe her consumption in each of the two periodes
Choose an article in a newspaper or magazine that discusses a United States government policy on goods or services.
What is the profit maximizing output if the price and What is the maximum profit that can be achieved - What is the marginal product of the 3rd worker
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Determine your optimal pricing strategy if you and your rival believe that the new Jeep is a "special edition" that will be sold only for one year. Would your answer differ if you and your rival were required to resubmit price quotes year after ye..
Franklin D. Roosevelt ' New Deal in the 1930's aid United States to go through the depression. There were famous 3-Rs: relief, recovery and reform.
Graph the budget line and add the indifference curve for the following situation and also graph the demand curve based on the given information
Consider a perfectly competitive market where market demand is given by Qd=30-P and market supply is given by Qs=2P. In this market, the government has imposed a production quota of 10.
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