If you join a tennis club with a membership fee to get a cheaper monthly price, this is an example of ... Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b C d e 1st Degree Price Discrimination 2nd Degree Price Discrimination 3rd Degree Price Discrimination Bundling Two part pricing
Q: C 10 points Question 1- Perfect Competition X Print eBook Perfect Competition: Homework i ferences…
A:
Q: One for the unitary model, Samuelson's Consensus Model (1956) & the Non-unitary model for the…
A: A single economic agent chooses behaviors that optimize his or her utility function while keeping a…
Q: • Calculate the GDP deflator for 2013 (using 1 decimal place). • Calculate the inflation rate for…
A: To find out the GDP Deflator, we have to divide Nominal GDP by Real GDP and multiplying the…
Q: (c) If the rent of the building the firm occupies increases, what will happen to the firm’s…
A: In perfect competition , Profit maximizing quantity is where P = MC MC is the marginal cost which…
Q: how will each of the following scenario impact the market for labour. workers become more concerned…
A: The labor market is the backbone of the production process in the economy. Any immigration of the…
Q: (b). Using the economic fluctuations graph³, assume your country is initially in long- run…
A:
Q: Consider a pure exchange economy with two goods, 1 and 2, and two consumers, A and B, who have…
A: To find the Walrasian equilibrium, we have to find the optimal consumption condition for both agents…
Q: • Calculate the unemployment rate. • Calculate the labour force participation rate. • Calculate the…
A: A measure of labour is the amount of work that people perform. The combined employed and unemployed…
Q: come Tax Exports of goods and services Profits of companies Imports on goods and services 8,350…
A: Gross domestic product (GDP) is the standard measure of the value added created through the…
Q: In the 20th century, Latin American countries were plagued by weak governments and subject to…
A: In 20th century, U.S. Banana Company’s primary complaint was a conspiracy to restrain trade and…
Q: What would the value C(75) represent in this context? B. Is function Cincreasing or decreasing? What…
A: C is the cost of the rental car in dollars and it a function of the miles driven in a day or the…
Q: What is a national balance of trade? What does someone mean when he or she says that the balance of…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: According to economics, human capacity is theoretically____________ A(none of the answers] B…
A:
Q: 14.3 (0) Quasimodo consumes earplugs and other things. His utility function for earplugs x and money…
A: Answer a) The utility's functions should in the questions is a quasilinear utility's functions. b)…
Q: Suppose now that Clomper's is able to perfectly price discriminate-that is, it knows each consumer's…
A: The profit-maximizing quantity is fixed by a monopoly firm without price discrimination at the…
Q: Figure 11-1 Rival in Consumption? Yes No Excludable? Yes A B No C D Refer to…
A: When the consumption of a good by one person prevents or reduces the consumption of the good by…
Q: Economic profit is Select one: O a. O b. O c. O d. equal to accounting profit equal to total revenue…
A: After all costs have been taken into account, the company's income is referred to as profits. These…
Q: Allowing free trade can lead to greater output because of: A. diseconomies of scale. B. the rule…
A: Comparative advantage is when the opportunity cost of producing one good is low. The opportunity…
Q: 5) Companies A and B have been offered the following rates per annum on a $20M five-year loan.…
A: LIBOR is used by the banks and other financial institutions as a benchmark reference to determine…
Q: Consider the market for minivans. For each of the events listed below, decide whether the event…
A: Consumers' willingness and ability to buy a specific amount of an item or service at a specific…
Q: Assume that the sale price of chairs is always sufficiently high that it is profitable to fulfill…
A: The cost of producing an additional unit of goods is called Marginal cost. (MC). The marginal…
Q: A head tax is a tax that collects the same amount from every tax payer, while in progressive taxes…
A: A head tax, also known as poll tax or capitation, levies a predetermined amount on every person who…
Q: What is the sequence of events from a rise in the federal funds rate target range to a change in the…
A: When the Fed increases the federal funds target rate, the main objective is to raise the cost of…
Q: The Coase Theorem says that if people negotiate the right perform activities that cause…
A: An economic concept known as "externality" describes the expenses paid for or advantages received by…
Q: Save & Exit A business firm owned by Mike Pence in a perfectly competitive market is currently…
A: The amount of money a company makes from each incremental sale is known as marginal revenue. The…
Q: what are some of the macroenvironmental factors that can affect the lucrativeness of the an…
A: Agriculture is the primary activity essential for the development of an economy. It provides…
Q: From the data shown, determine the ESL of the challenger Years Retained 1 2 3 4 5 AW of the…
A: Year Retained AW of the Defender AW of the Challenger 1 -1,45,000 -1,36,000 2 -1,06,000…
Q: Joosey Technologies have developed a new manufacturing process which they believe will revolutionize…
A:
Q: . If P 5,000 shall accumulate for 10 years at 8% compounded quarterly, then what is the compound…
A: Given: Present value = 5000 Number of years = 10 The interest rate is:
Q: In the long-run, aggregate production is determined by the side of the economy while in the short…
A: Investment is function of rate of interest and expected profitability accounting to Keynes.
Q: In the following table, identify the growth theory used to model each of the following views.…
A: New growth theory laid emphasis on experimenting with new approaches of doing things; new ideas; and…
Q: A printed circuit board manufacturer will construct a new plant. The potential sites have the…
A: Given information: Site A Site B Initial cost $30.8 million $34.4 million Annual revenue…
Q: Consider the interval of random numbers presented below. The following random numbers have been…
A: The formula for calculating an average is the sum of all the values in a given set, divided by the…
Q: a. What is the profit maximizing price and quantity when marginal cost is MC1? The firm…
A: The kinked demand curve model under oligopoly explains the reasons behind price rigidities in…
Q: If the marginal propensity to consume is 0.8, the marginal propensity to save is: A. 0.4. 0.8…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Assume the theory of absolute convergence is literally true. The current GDP per capita of Iran is…
A: “Since multiple questions have been asked by you, we will solve the first question. Please specify…
Q: he goal of stable prices is achieved when _______. A. the prices of food, clothing, and…
A: The main objectives of the Fed are to achieve price stability and maximum employment. Price…
Q: A debt of 45,000 with interest at 12% compounded monthly is to be repaid with payments of 20,000 and…
A: Given, Debt = 45,000 Interest Rate = 12% first Payment after 3 months = 20,000 Second payment after…
Q: Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be…
A: Present worth Present worth is a method utilized widely in finance especially in decisions involving…
Q: What would happen to the supply of cars if the cost of steel decreased? * OA. The supply would…
A: A basic economic notion that is called supply refers to the entire amount of a certain commodity or…
Q: ASSESS HOW FIRMS CAN REDUCE THEIR COST OF CAPITAL BY TAPPING INTO MORE DEVELOPED FOREIGN CAPITAL…
A: A capital market is essentially a system by which individuals, businesses, and governments with an…
Q: For items 11-12, refer to this graph. 800 600 400 200 MC 72 88 AC AVC 11. What is the revenue when…
A: Since you have asked multiple questions, we will solve the first three subparts questions ,and for…
Q: If R=0, the potential ability of banks to create money would be: a) Zero because the banks in the…
A: The reserve ratio refers to the portion of reserve liabilities that commercial banks are required to…
Q: Jo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The price of…
A: The budget equation measures the amount of two goods that a consumer can purchase given the prices…
Q: Is GDP per capita a good measure of a country's standard of living? Is GDP a good measure of a…
A: Gross domestic product refers to an economic measure that is used to determine the amount of income…
Q: ABC barber shop faces the following revenue and cost functions: TR=8Q and TC=70+4Q+0.01(Q^2) What is…
A: Profit is the reward for bearing risk. Profit is the excess of Total revenue over the total cost.…
Q: Suppose the level of autonomous investment in an economy is 200 and the consumption function is…
A: Aggregate expenditure in a closed economy without government is the sum of consumption and…
Q: Evaluate a combined cycle power plant on the basis of the PW method when the MARR is 18% per year.…
A: Investment Cost = 1,100,000 Salvage Value = 500,000 Annual Operating Cost = 50,000 Overhaul Cost…
Q: A company is manufacturing kayaks and can sell all that it manufactures. The revenue (in dollars) is…
A: Revenue function : R = 750x - x2/30 Rate of change of revenue with respect to the rate of change of…
Q: Gross domestic product (GDP) is defined as the: A. value of all final goods and services produced…
A: GDP is the gross domestic product. GDP refers to the value of all goods and services produced in…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- A golf club has determined that its local community has two broad groups of consumers: casual golfers and serious golfers. The golf club plans to charge golfers both a monthly membership fee (F) and a price (P) for each round of golf played. The club has estimated the following details for each consumer group, where P represents the price per round of golf and Q represents the number of rounds played each month. There are 25 serious golfers and each serious golfer has a direct demand of Qs(Ps)=190−2Ps. There are 60 casual golfers and each casual golfer has a direct demand of Qc(Pc)=152−2Pc. The marginal cost associated with each round is equal to $20.Ignore fixed costs. Assume that this golf club cannot price discriminate and must charge one price (P) and one membership fee (F). We will now determine whether it is more profitable for the golf club to select its prices based on the preferences of casual golfers or on the preferences of serious golfers. For the next two parts,…A golf club has determined that its local community has two broad groups of consumers: casual golfers and serious golfers. The golf club plans to charge golfers both a monthly membership fee (F) and a price (P) for each round of golf played. The club has estimated the following details for each consumer group, where P represents the price per round of golf and Q represents the number of rounds played each month. There are 25 serious golfers and each serious golfer has a direct demand of Qs(Ps)=190−2Ps. There are 60 casual golfers and each casual golfer has a direct demand of Qc(Pc)=152−2Pc. The marginal cost associated with each round is equal to $20.Ignore fixed costs. Assume that this golf club cannot price discriminate and must charge one price (P) and one membership fee (F). We will now determine whether it is more profitable for the golf club to select its prices based on the preferences of casual golfers or on the preferences of serious golfers. For the next two parts,…In Class, 10–25 Minutes for Teams For each of thefollowing products, determine at least three differentprices that might be charged. Then survey each of theindividuals within your group to find out how much ofeach product they would buy at each price point foreach of the products. For each product, calculate theprice elasticity of demand to determine whether thedemand is elastic or inelastic.a. Cheese pizzas per monthb. Movie tickets per monthc. Concert tickets per year
- Illustrate using an appropriate diagram [see sample below] where the Crocs online store in Australia [https://www.crocsaustralia.com.au/] sets the average price of a pair of Classic Clog to maximise profit. And within that diagram, explain ‘Gains from trade’ and ‘Deadweight Loss’. In your diagram, assume at the profit-maximising point, the average price of the Classic Clog is $60, and the unit cost is $35. Determine whether the PED is more elastic or inelastic Use hypothetical values (rough guesses) relying on intuition for quantities sold (Q) per month Once your diagram is complete (and properly labelled), explain ‘Gains from trade’ and ‘Deadweight Loss’ associated with your diagram.Show it.... The State government is considering building a new highway. Linda lives near the proposed highway. Her demand for trips per month is given by Q = 60 - 0.5P, where Q is the number of trips and P is the average cost per trip in cents. The current average cost per trip is 60 cents, and the new highway is expected to reduce it to 40 cents. A legislator asks Linda how much she is willing to pay per month for the construction of the new highway. Linda: I am making 30 trips now when it costs me $0.60 per trip. With the new highway, the cost will be reduced to $0.40, so I am willing to pay up to 30 (0.6 - 0.4) = $6 per month. Do you agree with her reasoning?Genovia has experienced exceptional growth in recent years. Its GDP per capita (orIncome) has increased from around $30,000 to $50,000 in last 5 years. Over theperiod quantity demanded of personal cars has increased from 450,000 units per yearto 600,000 units. Quantity demanded of public transport, however, has declined from10,000 buses to 7,000 buses. Calculate income elasticity of demand and tell whichproduct is a normal good and which one is inferior.
- The USPS charged $0.50 per stamp in 2021 and allows stamps.com to sell a sheet of twenty $0.50 stamps with personalized photos for $1.20 per stamp. Stamps.com keeps the extra beyond the $0.50 it pays the USPS. If stamps.com is acting as a profit-maximizing monopolist, what is their Lerner Index, and what is the price elasticity of demand for a customized stamp?Good or Service Price Elasticity Income Elasticity Beef -0.5 0.51 Long Distance Telephone -0.32 1.2 Cigarettes All smokers -0.7 0.9 Ages 15-18 -1.4 1.5 On average, all smokers regardless of age are Select one: a. Price insensitive/income insensitive b. Price sensitive/income insensitive c. Price sensitive/income sensitive d. Price insensitive/income sensitiveA demand curve is given by p = 660-3x. Assume you must pay salaries totalling 8000$ in a month. Also, it costs $110 to manufacture one TV. Find the range of prices you can charge and still be in the black: The lowest price you can charge is ___________ and the highest is ___________
- 3.In Avenger City, there are various fried chicken consumers withFea es like Captain America, Thor and Black panther. Consumers with Characteristics of Captain America has a demand function for fried chicken with DCA(p)=10-2p, while Thor is DT(p)=5-p and Black Panther is DBP(p)=20-4p. The number of consumers with characteristics such as Captain America is 50, Thor 100 and Black Panther 150. If the price of Fried Chicken is $5, then:A. What is the total demand for fried chicken for consumers withFeatures like Captain America?B. What is the total demand for fried chicken for consumers withFeatures like Thor?C. What is the total demand for fried chicken for consumers withFeatures like Black Panther?D. What is the total demand at market level for fried chicken whenthe price is $5? If the price of fried chicken is $10, then:A. What is the total demand for fried chicken for consumers withFeatures like Captain America?B. What is the total demand for fried chicken for consumers withFeatures…The New York Times reported (Feb. 17, 1996) thatsubway ridership declined after a fare increase:“There were nearly four million fewer riders inDecember 1995, the first full month after the priceof a token increased 25 cents to $1.50, than in theprevious December, a 4.3 percent decline.”a. Use these data to estimate the price elasticity ofdemand for subway rides.b. According to your estimate, what happensto the Transit Authority’s revenue when thefare rises?c. Why might your estimate of the elasticity beunreliable?2. The transport authority of the city corporation areas has experimented with the fare structure for the city’s public bus system after the Covid-19 pandemic. The new system is fixed fare system in which a passenger may travel between two points in the city for the same fare. From the survey results, system analysis has determined an appropriate demand function, q=400− p 2 where Q equals to the average number of riders per hours and p equals the fare in taka a. Find the elasticity of demand when the fare is BDT 5 and when the fare is BDT 15. b. What impact does it have in the elasticity and on the revenue for the fare increase? Will the price increase help the transport authority to increase its revenue? c. Determine the fare which should be charged to maximize hourly bus for revenue. (Use graph) d. How many riders are expected per hour under this fare? e. What is the expected maximum annual revenue?
