Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. A numerical look at deadweight loss from monopoly For each quantity of tutoring sessions she could give, fill in the Total Revenue column in the following table with the most total revenue she could earnat each quantity of sessions. Then, complete the table by computing the marginal revenue at each quantity of tutoring sessions.Students(Sessions per week)0123456789Willingness to Pay(Dollars per tutoring session)403836343230282624Total Revenue(Dollars per week)04076108136160180196208216If Frances can practice perfect price discrimination, she should giveMarginal Revenue(Dollars per tutoring session)If Frances has to charge a single price to all of her students, she will maximize her profit by givingefficient number, which istutoring sessions.tutoring sessions.40363228242016128tutoring sessions. This isthan theNow suppose Frances cannot practice perfect price discrimination, but she is able to find a hurdle that identifies the group of students who are willingto pay at least $34 for a tutoring session (the "list price" submarket), and those who are not (the "discount price" submarket). In order to maximizeher profit under this pricing scheme, she should charge in the list price submarket and in the discount price submarket.

Revenue is an important financial metric that represents the total earnings generated by using an…

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Business

Economics

otal Revenue

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

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.

A numerical look at deadweight loss from monopoly

For each quantity of tutoring sessions she could give, fill in the Total Revenue column in the following table with the most total revenue she could earn
at each quantity of sessions. Then, complete the table by computing the marginal revenue at each quantity of tutoring sessions.
Students
(Sessions per week)
0
1
2
3
4
5
6
7
8
9
Willingness to Pay
(Dollars per tutoring session)
40
38
36
34
32
30
28
26
24
Total Revenue
(Dollars per week)
0
40
76
108
136
160
180
196
208
216
If Frances can practice perfect price discrimination, she should give
Marginal Revenue
(Dollars per tutoring session)
If Frances has to charge a single price to all of her students, she will maximize her profit by giving
efficient number, which is
tutoring sessions.
tutoring sessions.
40
36
32
28
24
20
16
12
8
tutoring sessions. This is
than the
Now suppose Frances cannot practice perfect price discrimination, but she is able to find a hurdle that identifies the group of students who are willing
to pay at least $34 for a tutoring session (the "list price" submarket), and those who are not (the "discount price" submarket). In order to maximize
her profit under this pricing scheme, she should charge in the list price submarket and in the discount price submarket.

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