1. SHORT QUESTIONS 1.1. Optimal pricing. There two consumers, Alice and Bob, and two kinds of products A and B. Alice and Bob have valuations according to the table AB Alice 30 42 30 42 Bob 50 66 You sell the products and it costs you nothing to produce them. You know this table, but when Alice or Bob walk into your store, you cannot tell who they are. That is, if Alice walks in, you do not know if perhaps it is Bob instead who walked in, and vice-versa. What is the optimal pricing plan for the two products? 1.2. Optimal pricing and packaging. You produce Prosecco, at constant mar- ginal cost 5, and need to decide the size and prices of your bottles. You have two types of customers: one type has Prosecco in their spritzs with Sunday morning brunch, and the other is Ducati who wins a motorcycle race every Sunday and cele brates. Upon buying quantity q and paying 7, these two types get utility 10√ч- and 30√√. What is your optimal plan?

Offer Bud Light Don't Offer New Ads New Ads Offer New Ads B: $100 B: $50 M: $100 M: $200 Miller Lite Don't Offer New Ads B: $200 M: $50 B: $120 M: $120 Refer to Table 14.2.4. The marketers of Budweiser Light beer and Miller Lite beer must decide whether or not to offer new advertising campaigns promoting their products. The payoffs in the table are the economic profit made by Bud and Miller. Which one of the following observations is correct? This game has no Nash equilibrium. Bud has a dominant strategy but Miller does not. This game has no dominant strategies. Bud and Miller each have a dominant strategy. Miller has a dominant strategy but Bud does not.

The tables below show reservation values of buyers and sellers in a market. There are three buyers and two sellers. Each buyer's reservation values for the fourth unit and above are negative, and each seller can produce at most four units. First unit Second unit Third unit First unit Second unit Third unit Fourth unit Buyers' Reservation Values Buyer 1 Buyer 2 Buyer 3 65 35 65 50 25 35 25 0 25 Sellers' Reservation Values Seller 1 Seller 2 5 5 10 10 45 30 60 45 16) Refer to the tables above. What is the range of equilibrium prices? What is the equilibrium quantity? A) $25 and $30; 4 units C) $35 and $45: 6 units B) $30 and $35; 5 units D) $25 and $45; 5 units 16)

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RAGERIAL ECO X Question 3 Chapter 17 & 19 P X 13.1 Objectives and Methods of X a the more elastic the demand for x + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl... A to 9 ( & 19 Problems Saved Help Save & Exit In an oligopolistic market, Multiple Choice the smaller the number of firms and the more elastic the demand, the greater the markup. the larger the number of firms and the more elastic the demand, the greater the markup. the larger the number of firms and the less elastic the demand, the greater the markup. the smaller the number of firms and the less elastic the demand, the greater the markup. Submit g 53

a) Consider that 2 agents make up the demand side of a market. Person A's marginal benefits are MBA 60-0.25Q, and person B's marginal benefits are MBB 60 GB Find  market-level marginal benefits

Please no written by hand solution A local KFC franchisee is evaluating the number of fried chickens to produce each day. The following table shows the 4 alternatives, the states of nature and their payoffs       Daily Supply           40 50 60 70 Daily Demand 40 $80 $0 -$80 -$160   50 $80 $100 $20 -$60   60 $80 $100 $120 $40   70 $80 $100 $120 $140 What would your decision be if the following rules are applied? (show your calculation) Maximax Maximin La Place Minimax-regret

Using a graph, explain why a firm might not want to spend A on advertising, even though it shifts the firm's demand curve to the right. In the figure to the right, let D¹ and MR¹ be demand and marginal revenue before advertising. Assume the monopoly has a constant marginal cost with no fixed cost such that MR¹ = AC¹. Then, suppose the monopoly advertises and that the advertising shifts demand and marginal revenue to D² and MR². Assume advertising is a marginal cost, such that the new marginal cost after advertising is still a constant and still equals a new average cost. Using the line drawing tool, graph the marginal cost curve, reflecting the cost of the advertising, such that the monopoly breaks even from advertising. Label this curve 'MC².! Carefully follow the instructions above, and only draw the required objects. p, $ per unit 30- 28- 26- 24- 22- 20- 18- 16- 14- 12- 10- 8+ 6- 4- 2+ 0- 0 2 V MC = A ▬▬▬▬▬ AMR MR² D 4 6 8 10 12 14 16 18 20 22 24 26 28 Q, Quantity D²

#6. Your company sells widgets. There is only one other firm in the market: Bear Widgets. Demand for your product depends upon your price, your quantity, and the price that Bear Widgets charges (Pzear). You think that Bear Widgets will either charge $10 or $20. What should you do if their price will be $10? Demand: P = 50 – Q + 0.5Pgear Marginal costs: MC = 2Q a. Produce Q = 20 b. Produce Q = 18.33 c. Produce Q = 16.67 d. Produce Q = 15 e. Produce Q = 13.75

At a student café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot price-discriminate). Students with Early Classes Students without Early Classes Coffee 73 63 Banana 55 105 The marginal cost of coffee is 10 and the marginal cost of a banana is 40. The café owner is considering three pricing strategies: 1. Mixed bundling: Price bundle of coffee and a banana for 168, or just a coffee for 73. 2. Price separately: Offer coffee at 63, price a banana at 105. 3. Bundle only: Coffee and a banana for 128. Do not offer goods separately. Assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle. For simplicity, assume there is just one student with an early class, and one student without an early class. Price Strategy…