The demand curve, Microeconomics

Assignment Help:

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?  

 

 


Related Discussions:- The demand curve

Economic instruments, Economic instruments Financial rewards, incentives an...

Economic instruments Financial rewards, incentives and penalties that operate automatically via market forces, to encourage beneficial behavior.

Income, trend and structure of national income in nigeria

trend and structure of national income in nigeria

Illustrate the economic growth, Illustrate the Economic Growth Up until...

Illustrate the Economic Growth Up until 1800 growth rates of human populations were glacial. Population growth between 5000 B.C. and 1800 averaged less than one-tenth of a perc

Theory of production, when total production fall what,s the status of avera...

when total production fall what,s the status of average product and marginal product

#question.Question: Answer all parts (a, Consider the following insurance m...

Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low

3, . Crumble Corporation produces cookies. Here is the relationship betwee...

. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product

What is monetarism, Q. What is Monetarism? Monetarism:Monetarism was a ...

Q. What is Monetarism? Monetarism:Monetarism was a right-wing economic theory (associated with work of Milton Friedman, in particular) which believed that inflation could be co

Comparative advantage, Comparative Advantage:A theory of international trad...

Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. T

Positive versus normative economics, Positive versus Normative Economics ...

Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:

Write Your Message!

Captcha
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