Homework Help is Here – Start Your Trial Now!
Business
Economics
Legoland is trying to decide what price to charge for entry tickets. It knows that the maximum amount elderly people would be willing to pay for a ticket is $12. At that price, there would be 1,000 tickets sold. There are also 5,000 parents and kids who would be willing to pay $25 for a ticket. If Legoland cannot price discriminate, it charges a price of and earn in revenue. If Legoland is able to perfectly price discriminate, it will increase its revenue by $12; $72,000; $137,000 $25; $125,000; $12,000 $25; $125,000; $137,000 $12; $72,000; $12,000

Legoland is trying to decide what price to charge for entry tickets. It knows that the maximum amount elderly people would be willing to pay for a ticket is $12. At that price, there would be 1,000 tickets sold. There are also 5,000 parents and kids who would be willing to pay $25 for a ticket. If Legoland cannot price discriminate, it charges a price of and earn in revenue. If Legoland is able to perfectly price discriminate, it will increase its revenue by $12; $72,000; $137,000 $25; $125,000; $12,000 $25; $125,000; $137,000 $12; $72,000; $12,000

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter11: Monopoly And Antitrust Policy
Section: Chapter Questions
Problem 7SCQ: From the graph you drew to answer Exercise 11.6, would you say this transit system is a natural...
See similar textbooks
icon
Related questions
Question
not use ai please
Legoland is trying to decide what price to charge for entry tickets. It knows that the maximum amount elderly people would be willing to pay for a ticket is $12. At that price, there would be 1,000 tickets sold. There are also 5,000 parents and kids who would be willing to pay $25 for a ticket. If Legoland cannot price discriminate, it charges a price of and earn in revenue. If Legoland is able to perfectly price discriminate, it will increase its revenue by $12; $72,000; $137,000 $25; $125,000; $12,000 $25; $125,000; $137,000 $12; $72,000; $12,000
Transcribed Image Text:Legoland is trying to decide what price to charge for entry tickets. It knows that the maximum amount elderly people would be willing to pay for a ticket is $12. At that price, there would be 1,000 tickets sold. There are also 5,000 parents and kids who would be willing to pay $25 for a ticket. If Legoland cannot price discriminate, it charges a price of and earn in revenue. If Legoland is able to perfectly price discriminate, it will increase its revenue by $12; $72,000; $137,000 $25; $125,000; $12,000 $25; $125,000; $137,000 $12; $72,000; $12,000
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou…
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
SEE MORE TEXTBOOKS