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The owner of the sole stage-theatre in the city of Vordervilla has found through experience that the cost of running his 600-seat theatre remains virtually the same irrespective of whether there is a 'full house' or not.
The owner wishes to maximise his profits and has estimated that the demand curve of adults for the theatre can be represented by the function QA = 1000 - 50P, whereas the demand curve of children is given by QC = 600 - 50P.
Assume that the owner chooses not to price discrimination and must therefore sell all tickets at the same single price. What will that price be per ticket? What will be the ratio of adults to children attending the theatre?
You are tasked with evaluating a project for reducing nutrient (nitrogen and phosphorus) loading into the Gulf of Mexico (GOM). These nutrients make their way into the GOM by way o
AS STUDENT OF ECONOMICS ELABORATE ON THE KALDOR-HISCKS COMPENSATION
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I need to find recent disney cruise stories and what microeconomic theory it is and what they should do. for example renovating a ship why did they and what theory would that be?
Below are three questions. WRITE A BRIEF NOTE OF EXPLANATION IN ANSWER TO EACH PART OF EACH QUESTION. The marks awarded will depend on the quality of the reasoning exhibited and th
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please may you explain this concept
Question: (a) With the help of diagrams, explain how the price and quantity demanded or supplied of fuel will change under the different scenarios: (i) Consumers expect a fu
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