Market A Market B 10 MR MR. D. 0 1 2 3 QUANTITY (Admission tickets per dav) 4 5 6 7 8 9 10 1 2 3 4 5 6 8 10 QUANTITY (Admission tickets per dav) Suppose that at first, Eric charges the same price of $4 per admission in both markets so that the total number of admissions demanded is Suppose now that Eric decides to charge a different price in each market. To maximize revenue, Eric should charge $ per admission in Market A and S per admission in Market B. At these prices, he will sell a total quantity of admission tickets per day. Complete the following table by calculating Eric's total revenue from selling in both markets under the nondiscriminatory as well as the discriminatory price policy. Price Policy Total Revenue Nondiscriminatory Discriminatory PRICE (Dollars per ticket) PRICE (Dollars per ticket)

Market A Market B 10 MR MR. D. 0 1 2 3 QUANTITY (Admission tickets per dav) 4 5 6 7 8 9 10 1 2 3 4 5 6 8 10 QUANTITY (Admission tickets per dav) Suppose that at first, Eric charges the same price of $4 per admission in both markets so that the total number of admissions demanded is Suppose now that Eric decides to charge a different price in each market. To maximize revenue, Eric should charge $ per admission in Market A and S per admission in Market B. At these prices, he will sell a total quantity of admission tickets per day. Complete the following table by calculating Eric's total revenue from selling in both markets under the nondiscriminatory as well as the discriminatory price policy. Price Policy Total Revenue Nondiscriminatory Discriminatory PRICE (Dollars per ticket) PRICE (Dollars per ticket)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Suppose that Jacques and Kyoko are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price (Dollars per candle) 2 4 6 8 10 Jacques's Quantity Demanded Kyoko's Quantity Demanded (Candies) (Candles) 12 28 6 20 4 12 2 6 0 2
The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 300 275 250 200 175 150 125 100 75 50 0 0 + 3 6 9 x 4 * B Demand 12 15 18 21 24 27 QUANTITY (Scooters) 30 33 36 39 Total Revenue ?
12 Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows. Ds = demand for the Sky Eagle Ps= selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon = 223 - 0.60P + 0.35PH DH=270+ 0.10P - 0.64PH Revenue Ds The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of Ps and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) Price for Sky Eagle Price for Horizon Optimal revenue R = PS = $| PH = $ R = $
not use ai please
3. Consider the Smith family who have the following demand for rental housing (q, measured in square feet): q=0.5*(y/p), where y is the Smith family income and p is the price of housing per square foot. The Smith's income is $4000 per month and initially the price of housing is $2 per square foot per month. a. If the Smiths are operating on their demand curve, how much housing are they consuming? b. How much is the Smith family's monthly rent? How much does the Smith family spend on other consumption? c. Starting from the initial equilibrium, the government now grants the Smiths a proportional rent subsidy with B=0.5. How much housing does the Smith family purchase given the subsidy? d. What is the gross market rent per month paid by the Smith family? What is the net rent (after deducting the subsidy) paid by the Smith family? How much does the Smith family spend on other consumption in its new equilibrium? e. What is total dollar outlay of the government for the Smith's housing…
Omari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Omari initially produced four trucks, but then decided to increase production to five trucks. The following graph gives the demand curve faced by Omari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Omari must lower the price from $105,000 to $90,000 per truck. Notice that Omari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial four engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial four engines by selling at $90,000 rather than $105,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $90,000. PRICE (Thousands of dollars per fire engine) 165 150 135 120 105 Omari 90 75 60 45 30 15 Revenue Lost Demand…
I pretty sure I got the first part right. I am struggling with bottom parts.
Price 0 52 * S" Quantity Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D2 and 52 (point E). If the technology to produce motorcycles improves and the number of buyers increases, how will the equilibrium point change? O The equilibrium point will move from E to B. O The equilibrium point will move from E to C. The equilibrium point will move from E to A. The equilibrium point will remain at E.
Price o+ y D1 D2 Quantity Limo sales suffer, this would be indicated on the graph above by O A move from point y to point x, as a change in quantity demanded O A shift from D2 to D1, as a change in quantity demand A shift from D2 to D1, as a change in demand O A move from point y to point x, as a change in demand
Which direction would the market demand curve shift if Tex withdrew from the market? What if Dex doubled his purchases at each possible price? Suppose that at a price of $6, the total quantity demanded increases from 19 to 38. Is this a “change in the quantity demanded” or a “change in demand”?
do fast
6.18 please explain