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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?
Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000 in total revenues and paid $65,000 to his employees and suppliers. During the course
The Healthy Spring Water company sells bottled water for offices / homes. The price of the water is $20 per 10 gallon bottle and the company currently sells 2,000 bottles per day.
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
Explainbainlimitpricetheory
discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
cual es la minina
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equilibrium price and output.
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marginal utility is applied on money or not
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