A movie monopolist sells to college students and other adults. The demand function for students is Q = 1,560 - 100P, and the demand function for other adults is Q = 1,800 - 100P. but who has cost function C(Q) = Q +0.005Q² Marginal cost is MC = 1 + 0.010, where Q=Qs+ QA- Instructions: Round your answers to 2 decimal places as needed. a. What prices will the monopolist set when she can discriminate? Pstudent = $ per ticket. Padult = $ Profit = $ per ticket. b. What if demand for adults increases to Q = 2,000 - 100P? Pstudent = $ Padult = $ Profit = $ per ticket. per ticket. c. When adult demand increases, the adult price: O does not change. O increases. O decreases.
A movie monopolist sells to college students and other adults. The demand function for students is Q = 1,560 - 100P, and the demand function for other adults is Q = 1,800 - 100P. but who has cost function C(Q) = Q +0.005Q² Marginal cost is MC = 1 + 0.010, where Q=Qs+ QA- Instructions: Round your answers to 2 decimal places as needed. a. What prices will the monopolist set when she can discriminate? Pstudent = $ per ticket. Padult = $ Profit = $ per ticket. b. What if demand for adults increases to Q = 2,000 - 100P? Pstudent = $ Padult = $ Profit = $ per ticket. per ticket. c. When adult demand increases, the adult price: O does not change. O increases. O decreases.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![A movie monopolist sells to college students and other adults. The demand function for students is
Q = 1,560 - 100P,
and the demand function for other adults is
Q = 1,800 - 100P.
but who has cost function
C(Q) = Q +0.005Q²
Marginal cost is
MC = 1 + 0.010,
where Q=Qs+ QA-
Instructions: Round your answers to 2 decimal places as needed.
a. What prices will the monopolist set when she can discriminate?
Pstudent = $
per ticket.
Padult = $
Profit = $
b. What if demand for adults increases to
= 2,000 - 100P?
Q
Pstudent = $
Padult = $
Profit = $
per ticket.
O increases.
O decreases.
per ticket.
c. When adult demand increases, the adult price:
per ticket.
does not change.
O decreases.
O increases.
d. When adult demand increases, the student price:
does not change.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fff6f9a4d-2084-42ea-abf6-3325fa2ca826%2Ff1b95e17-4ec0-4e7a-bada-e91c71f7ee59%2Fvy2mpq_processed.png&w=3840&q=75)
Transcribed Image Text:A movie monopolist sells to college students and other adults. The demand function for students is
Q = 1,560 - 100P,
and the demand function for other adults is
Q = 1,800 - 100P.
but who has cost function
C(Q) = Q +0.005Q²
Marginal cost is
MC = 1 + 0.010,
where Q=Qs+ QA-
Instructions: Round your answers to 2 decimal places as needed.
a. What prices will the monopolist set when she can discriminate?
Pstudent = $
per ticket.
Padult = $
Profit = $
b. What if demand for adults increases to
= 2,000 - 100P?
Q
Pstudent = $
Padult = $
Profit = $
per ticket.
O increases.
O decreases.
per ticket.
c. When adult demand increases, the adult price:
per ticket.
does not change.
O decreases.
O increases.
d. When adult demand increases, the student price:
does not change.
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