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- The fact that movie theaters charge a lower price to see a movie during the day as compared toevening show even though there is no change in cost is known as: 1.time discrimination.2.Dinelastic supply of movies3.price discrimination.4.elastic demand for movies during the dayBertrand duopolists face MWTP = 8 - Q and can produce any quantity without marginal cost. If firm 1 will choose the price maximizing market profits this period, what price does firm 2 choose to maximize its profits this period? (Assume prices must be in whole cents. Remember, do not enter the $ sign.)A business that price-discriminates will generally charge some customers more than marginal cost, and it will generally charge other customers less than marginal cost. True or False
- .Price discrimination by monopolists’ can also be embarked by competitive firms. True or falseWhen firms price discriminate they Select one: a. get additional surplus from consumers who would have bought at the profit-maximizing uniform price but lose sales because of the higher prices. b. maintain surplus from existing consumers but pick up additional consumers that would not have bought at the profit-maximizing uniform price. c. get additional surplus from consumers who would have bought at the profit-maximizing uniform price. d. None of the above.Dear tutor, please solve these True/False Questions. Thank You! Firms price discriminate to maximize total revenue. While price discrimination is possible between two markets, it is not possible in more than two.
- Suppose that a price-taker firm has a marginal cost function given by: MC= 20+0.5q. The firm could join a cartel in its industry and agree to a quota of 5 units. The collusion drives the price of the good from $25.45 to $55.00. Calculate the producer surplus of this firm when they produce the quota. 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.Price discrimination is one of the features of which type of the market economy?The only two barbers in a small town agree to raise the prices for children’s haircuts. This is an example of: Predatory Pricing Price collusion Price discrimination The invisible hand of the market
- Select the correct statements. Note. Multiple correct, multiple selections A. With first-degree price discrimination, the marginal revenue curve is below the demand curve, with the absolute value of the slope equal to twice the slope of demand B. With first-degree price discrimination, the marginal revenue curve is the same as the demand curve. C. With third degree price discrimination, the firm identifies different consumer groups, or segments in a market and then charges a price for each segment by setting the price equal to marginal cost D. With a block tariff (with two blocks), the consumer pays one price for units consumed in the first block of output (up to a given quantity) and a different (usually lower price for any additional units E. Mixed bunding is sometimes the most profitabile strategy for a firm because consumers prefer to spend on binges and make multiple purchases at the same timeDetermine and compare the amount of consumer surplus and producer surplus if the service is provided by competitive firms and by the monopolist.A Park charges $50 for students and $100 for everyone else. If the price elasticity of demand for nonstudents is estimated to be -1.5, what must be the price elasticity of demand for students assuming that the movie theater is charging the optimal third degree discriminated prices?
