The last answer appears to be incorrect, please help with this A movie monopolist sells to college students and other adults. The demand function for students isQ = 880 - 100P,and the demand function for other adults isQ = 2,000 - 100P.Costs isC(q) = 10 +0.00502m per ticket,where Q=Qs+ QA-Instructions: Round your answers to 2 decimal places.a. What prices will the monopolist set when she can discriminate?Pstudent = $Oper ticket.Padult = $Profit = $b. What if demand for adults increases toQ = 2,200 - 100P?Pstudent = $Padult=Profit = $16 per ticket.20per ticket.O decreases.per ticket.c. When adult demand increases, the adult price:does not change.increases.d. When adult demand increases, the student price:increases.O does not change.O decreases.

(Question d is answered as per asked) The demand for a good is the willingness of consumers to buy…

A movie monopolist sells to college students and other adults. The demand function for students is Q=880 - 100P, and the demand function for other adults is Q=2,000 - 100P. Costs is C(q) = 10 +0.00502m per ticket, where Q=Qs+ QA

A movie monopolist sells to college students and other adults. The demand function for students is Q=880 - 100P, and the demand function for other adults is Q=2,000 - 100P. Costs is C(q) = 10 +0.00502m per ticket, where Q=Qs+ QA

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The last answer appears to be incorrect, please help with this

A movie monopolist sells to college students and other adults. The demand function for students is
Q = 880 - 100P,
and the demand function for other adults is
Q = 2,000 - 100P.
Costs is
C(q) = 10 +0.00502m per ticket,
where Q=Qs+ QA-
Instructions: Round your answers to 2 decimal places.
a. What prices will the monopolist set when she can discriminate?
Pstudent = $
Oper ticket.
Padult = $
Profit = $
b. What if demand for adults increases to
Q = 2,200 - 100P?
Pstudent = $
Padult=
Profit = $
16 per ticket.
20
per ticket.
O decreases.
per ticket.
c. When adult demand increases, the adult price:
does not change.
increases.
d. When adult demand increases, the student price:
increases.
O does not change.
O decreases.

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