The demand by senior citizens for showings at a local movie house has a constant price elasticity equal to -6. The demand curve for all other patrons has a constant price elasticity equal to -5. If the marginal cost per patron is $2 per showing, how much should the movie house charge members of each group? Instructions: Round your answers to 2 decimal places. Senior citizens: $ Adults: $
Q: In a perfectly competitive market, which of the following statements is true? Options: A. Firms have…
A: Businesses are price takers in a market with perfect competition, meaning they have no control over…
Q: Question 5 Consider the following game in normal form: L C R U 3,1 5,0 0,0 M 2,0 4,4 0,0 D 0,0 0, 1…
A: Friedman's Roll Theorem is a theorem in game theory that states that in a two-player infinitely…
Q: Correct
A: 1. Proclamations ajustables :- {choice} : L'opération préférée de l'utilisateur est stockée dans…
Q: Solve all questions compulsory....
A: Step 1:From the above graph, the aggregate supply would shift to the right and the aggregate demand…
Q: Please answer is a step by step
A: Calculating the Loan Details for a $4300 Loan with a 13% Interest RateStep 1: Calculate the Total…
Q: When an economy is experiencing a recessionary gap, the likely outcome is a) quickly rising output…
A: A recessionary gap occurs when a country's real GDP is lower than its GDP at full employment, which…
Q: Drink it expers
A: Tea is a necessary beverage for human consumption. A lot of individuals are addicted to tea, and…
Q: Within a monopolistically competitive industry, it would be expected that Group of answer choices…
A: The objective of the question is to understand the expected behavior of firms in a monopolistically…
Q: 4. A pharmaceutical firm is marketing a patented drug it has developed (the firm therefore has…
A:
Q: Based on the pictures of the graphs consulted, comment what is expected from the American economy in…
A: Detailed explanation: I can make the following conclusions about how the US economy is anticipated…
Q: Give introduction step and proper explanation of the answer will upvote. Hand written solution is…
A: The concept of tax incidence refers to the distribution of the burden of a tax between consumers and…
Q: Refer to the figure above. The firm illustrated in the graph is a(n) A. oligopolist. B.…
A: Detailed explanation: A natural monopoly is a form where only one company can efficiently and…
Q: Only type writing allow....don't use pepar work .....
A: To answer the question: Remember that for a monopolist, its profit-maximizing quantity is where its…
Q: 4. A firm has a linear production function Q = 16L + 8K. The price of labor, w, is $6 per unit and…
A: Finding the Optimal Input CombinationWe're given a linear production function, input prices, and a…
Q: Investigate what factors determine the number of times a person logs into Facebook per week. It is…
A: Detailed explanation: Let's break down each test and analysis, providing detailed explanations for…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Detailed explanation:
Q: When does cut-throat competition happen with oligopolistic firms? Group of answer choices When each…
A: The objective of the question is to understand the circumstances under which cut-throat competition…
Q: 5) Suppose that an economy starts off with a per capita real GDP of $5,000. How large will the per…
A: Step 1:answer of 5To calculate the per capita GDP after 40 years, given an initial per capita real…
Q: Help!
A: The price elasticity of demand measures the responsiveness of quantity demanded to changes in price.…
Q: Please give exact answer to every part step by step and take a like
A:
Q: Question 1 Consider AF from our previous Comprehension Assessment. It was among a handful of firms,…
A: Q.1 Q.2
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: To determine the optimal price range for a firm with market power, we need to apply the concept of…
Q: This figure below shows the labor market for automobile workers. The curve labeled S is the labor…
A: The objective of the question is to identify the reason behind the shift of the labor-demand curve…
Q: In what way(s) is a monopolistically competitive firm inefficient? Group of answer choices It…
A: The question is asking about the inefficiencies that are associated with a monopolistically…
Q: 4. (6 points) Suppose you want to open a food truck in Providence that sells fancy sandwiches to…
A: To effectively understand the fixed and variable costs associated with opening a food truck in…
Q: The figure above shows a market that is originally at equilibrium at Point A, the intersection…
A: The objective of the question is to identify the changes in demand and supply that would result in…
Q: Refer to the demand curve in the figure above. Assume the monopolist equilibrium price is $6 per…
A: Approach to solving the question: Let's dissect this question to get the answer:The price of…
Q: QUESTION 1 Consider the standard utility maximization problem: maxU = U(x, y) subject to P x +P y =…
A: Detailed Explanation: (a) To set up the Lagrangian function, we'll introduce the Lagrange…
Q: None
A:
Q: D Question 25 Refer to the accompanying graph Price G 4 E Q F 8182 D₂ D₁ Quantity The market is…
A: The objective of the question is to understand the impact of a government subsidy on a market with a…
Q: You are the manager of a monopoly that sells a product to two groups of consumers in different parts…
A: In order to increase profits, the conditions for third-degree price discrimination are specified.1.…
Q: None
A: The market for euros might be affected by an economic expansion in the United States.Increase in…
Q: None
A: The managers of Fine Farm should grow rice to maximize predicted marginal revenue, which in a fully…
Q: Please give exact answer to every part with exact steps and take a like
A: Given:Demand: q = 20,000 - 2pSupply: q = 7,900 + 0.5p At equilibrium, supply = demand:7,900 + 0.5p…
Q: EXCHANGE RATE (Dollars per euro) The following graph shows the short-run supply schedule (S,) and…
A: The initial equilibrium exchange rate is $1.20 per euro. When the demand for euros increases to D1,…
Q: The young and wow expert Hand written solution is not allowed.
A: Certainly! Here's a detailed breakdown of the calculations for the income tax due based on an income…
Q: consider a domestic monopoly in a small country that produces a good with the following inverse…
A: QUESTION AFirst, we need to find the equilibrium quantity by setting the quantity demanded equal to…
Q: Decisions about Science & Technology play a significant role in shaping our future society. In…
A: Let's break down how the provided answer comprehensively addresses each aspect of the…
Q: Question 1 Luna Leasing Sdn Bhd (LLSB) agrees to provide Pali Sdn Bhd (PSB) with equipment under a…
A: Question 1a: Factors Influencing Lease vs Purchase DecisionSeveral factors can influence…
Q: 3. The table below depicts the marginal cleanup costs for Springfield's two polluters, ACME Corp.…
A: a) Command-and-control regulation: In this case, authorities set a predetermined pollution reduction…
Q: 630 550 475 450 425 Sus Sus.w.1 Sus w Dus 325 5 10 20 30 40 50 55 Tons of Steel Assume the United…
A: I. Redistributive Effect:This effect measures the redistribution of consumer and producer surplus…
Q: The Beauty of the expert Hand written solution is not allowed
A: Ans. ) Given the question, there is a competitive market for rhodium. Given that all the firms in…
Q: Answer all questions, show all working. Marta and Sara are two students that devote part of their…
A: Detailed explanation: Extensive Form Representation of the GamePlayers:Marta (M)Sara…
Q: The young and beautiful expert Hand written solution is not allowed
A: Ans. ) Given the situation, that in Zimbabwe, the situation of Hyperinflation…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: 1. **Given Data:** You're provided with the average weekly wages of state government employees…
Q: A change in the price level produces a ________ the aggregate demand curve. i. shift in ii.…
A: The objective of the question is to understand the effect of a change in the price level on the…
Q: am. 113.
A: Out of the three options listed, only floating exchange rate with no capital controls will allow the…
Q: Question 1 Consider AF from our previous Comprehension Assessment. It was among a handful of firms,…
A: The objective of the first question is to determine the optimal amount of advertising investment per…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Approach to solving the question: Step 1: Identify the initial long-run equilibrium.Explanation: The…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: To estimate the pre- and post-merger prices in the wholesale market for premium Scotch liquor, we…
Step by step
Solved in 2 steps
- Please no written by hand solution When the price of a trampoline was $636, the quantity demanded was 710 trampolines per month. Later, the price fell to $581, and quantity demanded rose to 784. Using the midpoint formula, what is the price elasticity of demand for this trampoline?a) Suppose a movie theater determines that the elasticity of demand for movie tickets is -2.0 for senior citizens and –1.5 for adults under age 65, and the marginal cost is $2 per consumer. Use the Lerner index to determine how much senior citizens should be charged and how much adults under age 65 should be charged. b) A different movie theater, which faces the same marginal costs, charges consumers $6 for matinee movies and $10 for evening movies. Use the Lerner Index to calculate the price elasticity of demand for matinee consumers and evening consumers.4x + 500 10x +9 the number of plants sold per day when the price is x dollars per plant. A garden shop determines the demand function q = D(x) = (a) Find the elasticity. (b) Find the elasticity when x=3. (c) At $3 per plant, will a small increase in price cause the total revenue to increase or decrease? (a) The elasticity is during early summer for tomato plants where q is M Ir
- If the short-term own price elasticity for a product is estimated to be -0.6, then long-term own price elasticity is expected to be?Suppose you own a tax preparation services company, with fixed costs of $3,000/month and marginal costs of $25/appt.If the price is $60/appt, 500 appointments would be sold. If the price is $50/appt, 760appointments would be sold. a.)Use these figures to calculate the price elasticity of demand for your services. b.)Calculate the monthly profits and profit margins (profit/revenue) associated with the price of $60/appt and $50/appt. c.)Given these calculations, what price should you charge for your services, $50/apptor $60/appt? ExplainIf the marginal cost to make a good is $80 and the price elasticity of demand is -4, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).
- Suppose Ford currently sells 250000 Ford mustang's annually. The unit cost of a mustang including the delivery cost to a dealer is $16000 . The current mustang price is $20000 and the current elasticity of demand for the mustang is -1.5. A. Determine a profit maximizing price for a mustang. Do this when the demand function is of the constant elasticity type. Do it when the demand function is linearGeorge has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50, he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial actual markup? Was raising the price profitable?A topic on optimal pricing, elasticity, stay-even analysis, or cost-based pricing.
- 2x + 500 A garden shop determines the demand function q =| D(x) = during early summer for tomato plants where q is the number of plants sold per day when the price is x dollars per plant. 20x +9 (a) Find the elasticity. (b) Find the elasticity when x=3. (c) At $3 per plant, will a small increase in price cause the total revenue to increase or decrease? (a) The elasticity is. (b) When x = 3, the elasticity is| (Simplify your answer. Type an integer or a fraction) (c) Fill in the blank below. At $3 per plant, a small increase in price will cause the total revenue toPlease Help The price elasticity of demand for Rosie's Roses fresh flowers the week of Valentine's Day is 1.10 and is 1.60 other days of the year. If Rosie's Roses faces a constant marginal cost of $0.75 per rose, what is the profit-maximizing off-peak load price to charge on days not on the week of Valentine's Day? 1)$5.00 2)$1.25 3)$8.50 4)$2.00 If Happy Campers has a market share of 70 percent and Campers R Us has a market share of 5 percent, according to Chinese law, Happy Campers ________ be considered a dominant firm and Campers R Us ________ be considered a dominant firm. 1)would; would 2)would not; would not 3)would not; would 4)would; would not If an illegal per se act has been proven to have occurred, there is no defense possible. 1)True 2)False A manager of a firm located in the United States that sells some of its products abroad needs to comply only with United States antitrust law as the firm is only bound by the laws of the country in which it is located. 1)True 2)False…Question 1 Sal's Streaming Company streams TV shows to subscribers in the US and Canada. Demand is Qus 50 (1/3)Pus - QCA 80 (2/3)P CA = - where Q's are in thousands of subscriptions per year and P's are the subscription prices per year. The cost of providing Q units of service is given by TC = 1000 + 30Q, where Q = Qus+ QCA (a) What are the profit-maximizing prices and quantities for the US and Canadian markets? (b) As a consequence of a new VPN service that Facebook has developed, subscribers in Canada are now able to get the US streams and vice versa, so Sal can charge only a single price. What is the profit-maximizing single price that he should charge? (c) In which situation is Sal better off? In terms of consumers' surplus which situation do people in Canada prefer and which do people in the US prefer? Why?