Why museum price discriminate on admission but not souvenirs

Assignment Help Microeconomics
Reference no: EM131919141

Problem

Suppose a museum charges different entrance fees for children, students, adults, and seniors, but these groups all pay the same amount for souvenirs at the gift shop. Explain why the museum price discriminates on admission but not souvenirs.

Reference no: EM131919141

Questions Cloud

Represent a good income for the bank : And the manager hopes you help him take a decision of to grant him or not the requested credit, in case you grant it, could it represent a good income
Formulate a linear mathematical model to achieve : A portfolio manager has developed a list of six investment alternatives for a multiyear horizon.
Which barrier to entry best describes economies of scale : Which barrier to entry best describes this situation-scarce resources, economies of scale, government intervention, or aggressive tactics?
Evaluate the suitability of lean services to the department : What measures should be used to evaluate the performance of this department? Evaluate the suitability of lean services to this department.
Why museum price discriminate on admission but not souvenirs : Suppose a museum charges different entrance fees for children, students and adults. Explain why the museum price discriminates on admission but not souvenirs.
Why the state will have to subsidize natural monopolies : Explain to your legislator why the state will have to subsidize natural monopolies if this law goes into effect.
Determine the total cost of ownership : Consider the purchase of a new mobile phone. How would you determine the total cost of ownership? What are the costs that you might incur before the purchase.
Explain to your legislator the pros and cons of the approach : Suppose that your state is considering a law that would force all monopolies to charge. Explain to your legislator the pros and cons of this approach.
Propose an adjustment for any loss incurred : Posing as a representative of an organization with a problem with a product or service, invent reasonable details, including those regarding your employment.

Reviews

Write a Review

Microeconomics Questions & Answers

  How to prevent most deaths from obesity or lung cancer

Some problems that economists try to solve are easy as economic problems but hard as political problems. Medical doctors face similar kinds of situations.

  Which type of costing system would recommend for each plant

Suppose Snoqualmie Company has two plants-the Salem plant and the Youngstown plant. The Youngstown plant produces only three components that are very similar.

  John in exchange for her burger

Of of the prices which is the lowest she would accept from John in exchange for her burger?

  Write 1400 - 1750-word paper of no more than in which you

management has recognized the effect of changes in the real-world competitive environment and government policies on

  The market when both operators compete on prices why

What equilibrium prices will we see in the market when both operators compete on prices? Why?

  Identify two professional organizations in your chosen field

Identify at least two professional organizations in your chosen field. Research the organizations to identify the  Social/Networking meetings.

  How would you finance and organise the system

What do you think should be the objectives of a health care system? How would you finance and organise the system to achieve this

  Corporate social responsibility

Some "instances" of Corporate Social Responsibility (CSR) are in the eye of the beholder. It is interesting that the early literature (say 10-15 years ago) argued that corporations could have virtues and vices; interesting idea given the rece..

  In monopolistic competition as well as in monopoly

In monopolistic competition as well as in monopoly,

  Describe the grant that are funding the activity

Grant money is used to fund research. Describe the grant/s that are funding the activity and any additional information you can discover about the grant/s.

  Under what circumstances would it definitely not be dominate

When purchasing a home, one occasionally hears about the possibility of "renting with an option to buy." This arrangement can take various forms.

  Does statistically significant evidence exist to suggest

In a survey of 500 men and 500 women, 20% of the men and 26% of the women responded that space should remain commercial free. Does statistically significant evidence exist to suggest that there is a difference in the population proportions of men a..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd