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

Demand Supply, Ask qIf the supply and demand curves for labor are represent...

Ask qIf the supply and demand curves for labor are represented by the following equations: Wd= -- (1/100)Ld + 30 Ws= (1/200)Ls Ws=Wd Ld=Ld a. Graph the results and show the equili

Theory of inter-temporal consumption, THEORY OF INTER-TEMPORAL CONSUMPTION:...

THEORY OF INTER-TEMPORAL CONSUMPTION: In the previous two units, we have been concerned with choices among contemporaneous commodities. An important class of choices made by c

Linkage of education with poverty and income distribution, Normal 0 ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Primary inputs, Normal 0 false false false EN-IN X-NO...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Lack of integration in policy formulation, Lack of Integration in Policy Fo...

Lack of Integration in Policy Formulation and Policy Implementation: A common thread uniting these diverse diagnoses and prescriptions can be seen among most of the critical e

Economics question im stuck with, The prevention of major swings in economi...

The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?

Production Possibility Curve, Explain in detail the concept of PPC with sui...

Explain in detail the concept of PPC with suitable eg.

Trade, difference between absolute advantage & comparative advantage theory...

difference between absolute advantage & comparative advantage theory

Theories of the firm, how a firm will choose its optimal inputs, isocosts a...

how a firm will choose its optimal inputs, isocosts and isoquants explanation

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