MICROECONOMICS-ACCESS CARD <CUSTOM>
11th Edition
ISBN: 9781266285097
Author: Colander
Publisher: MCG CUSTOM
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Question
Chapter 11, Problem 2QAP
(a)
To determine
Determine whether the given statement is correct.
(b)
To determine
Identify if the given statement is necessary for an economy.
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DN1(b, c)
Amtrak has a monopoly on rail travel in the U.S. It uses price discrimination to
offer a discounted price for adults who are currently enrolled students. The
marginal cost per train ticket from Baltimore to New York is 100. The demand for
regular tickets is P=1000-5Q and the demand for student tickets is P-500-Q.
b. Find the monopoly price and quantity for regular adult tickets?
c. Find the monopoly price and quantity for discounted student tickets.
-x
230.
If the demand Curve is the form of P= 10e ? where P is the price and x is the demand,
what is the Price elasticity of Demand?
(a) Kx
(b) 는
(c) 5x
(d) None
QUESTION 48
48. Assuming the demand for illegal drugs is inelastic in the relevant range of prices and the supply of illegal drugs is
relatively elastic, what will be the impact of a government drug policy that is aimed at curtailing the flow of drugs into
the country?
a) the quantity of drugs consumed will not change very much while the price will increase significantly, and the policy will
be, to a large extent, self-defeating, as the increase in price will increase the suppliers' financial resources.
b) the quantity of drugs consumed will be significantly reduced.
c) the price of drugs will not be affected very much.
d) none of the above.
Chapter 11 Solutions
MICROECONOMICS-ACCESS CARD <CUSTOM>
Ch. 11.1 - Prob. 1QCh. 11.1 - Prob. 2QCh. 11.1 - Prob. 3QCh. 11.1 - Prob. 4QCh. 11.1 - Prob. 5QCh. 11.1 - Prob. 6QCh. 11.1 - Prob. 7QCh. 11.1 - Prob. 8QCh. 11.1 - Prob. 9QCh. 11.1 - Prob. 10Q
Ch. 11 - Prob. 1QECh. 11 - Prob. 2QECh. 11 - Prob. 3QECh. 11 - Prob. 4QECh. 11 - Prob. 5QECh. 11 - Prob. 6QECh. 11 - Prob. 7QECh. 11 - Prob. 8QECh. 11 - Prob. 9QECh. 11 - Prob. 10QECh. 11 - Prob. 11QECh. 11 - Prob. 12QECh. 11 - Prob. 13QECh. 11 - Prob. 14QECh. 11 - Prob. 15QECh. 11 - Prob. 16QECh. 11 - Prob. 17QECh. 11 - Prob. 18QECh. 11 - Prob. 19QECh. 11 - Prob. 1QAPCh. 11 - Prob. 2QAPCh. 11 - Prob. 3QAPCh. 11 - Prob. 4QAPCh. 11 - Prob. 5QAPCh. 11 - Prob. 1IPCh. 11 - Prob. 2IPCh. 11 - Prob. 3IPCh. 11 - Prob. 4IPCh. 11 - Prob. 5IP
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