seven questions test.this is one of the question I will

1. suppose seven people take pleasure in going to the comedy membership. Their demand is as follows. PersonWillingness to pay  Allison 20   Beatrice 18   Cally  16   David  14   Ezekiel 12   Francesca 10   Gertrude  eight  Suppose the comedy membership had a monopoly and a marginal value of $7 per entrant. Suppose the membership may completely price-discriminate. That's, it may cost every buyer a special worth equal to his or her most willingness to pay. What number of tickets would the comedy membership promote?     2 The determine under exhibits the marketplace for one hour of economics tutoring at your school. Think about that the marketplace for economics tutoring may very well be completely aggressive, managed by a monopolist who costs a single worth or a monopolist who costs every buyer a special worth. Use the knowledge within the diagram to reply the questions under. 2nd try Half 1   (zero.three level) See HintHow a lot is whole surplus if the market is completely aggressive?   $    Half 2   (zero.three level) See HintHow a lot is whole surplus if the market is managed by a single-price monopolist?   $    Half three   (zero.three level) See HintSuppose the single-price monopolist began charging all prospects the utmost worth they're prepared to pay. How a lot further surplus is created?   $    three. A diner has no competitors in the case of its well-known Reuben sandwich combo plate, for which the graph exhibits the diner's demand (D), marginal value (MC), and marginal income (MR) curves. The value of $20 relies on the MR = MC rule for revenue maximization. The oblong area proven represents the internet income from gross sales of the sandwich (whole income from Reuben combo gross sales minus whole variable prices related to Reuben combo gross sales). Now, suppose the diner decides to lift the worth through the lunch hour, which accounts for 60% of Reuben combo gross sales, realizing that its lunch-hour patrons are essentially the most loyal patrons of the Reuben combo and likewise that they're locked into the lunchtime slot by their work schedules. The diner raises the worth simply sufficient to not lose any lunch-hour patrons. Use the world device to stipulate the area representing the ensuing further internet income from the worth enhance. Your reply must be a rectangle drawn with 4 corners. To check with the graphing tutorial for this query sort, please click on right here.   SEE ATTACHMENT SCREENSHOT2017 FOR GRAPH Half 2   (zero.7 level) See HintAs a results of the revised worth construction, the diner's internet income from Reuben-combo gross sales goes from   $   to  $  per day. four. For a agency that could be a worth maker for its product, the graph exhibits the demand (D) and marginal income (MR) curves, in addition to the marginal value curve (MC), which can be the common variable value (AVC) curve. The graph additionally exhibits the web income (whole income from product gross sales, minus whole variable prices) when the profit-maximizing rule MR = MC is utilized. Lastly, the graph exhibits two worth factors the agency is contemplating for a price-discrimination plan. If the agency is ready to perform this plan, getting the upper worth from all these prepared to pay it and the cheaper price from those that are usually not, define the area representing the ensuing internet income. Use the world device to attract the brand new internet income area on high of the previous one. Your reply must be drawn with six corners. To check with the graphing tutorial for this query sort, please click on right here. see attachments The determine under exhibits the marketplace for one hour of economics tutoring at your school. Think about that the marketplace for economics tutoring may very well be completely aggressive, managed by a monopolist who costs a single worth or a monopolist who costs every buyer a special worth. Use the knowledge within the diagram to reply the questions under. 2nd try Half 1   (zero.three level) See HintHow a lot is whole surplus if the market is completely aggressive?   $    Half 2   (zero.three level) See HintHow a lot is whole surplus if the market is managed by a single-price monopolist?   $    Half three   (zero.three level) See HintSuppose the single-price monopolist began charging all prospects the utmost worth they're prepared to pay. How a lot further surplus is created?   $    Metropolitan Opera tickets are costliest on Saturday night time. Nonetheless, a really restricted variety of scholar rush tickets are sometimes accessible, and a fortunate scholar can wind up paying $20 for a $250 seat. The scholar rush tickets can be found on a first-come, first-serve foundation. 2nd try Half 1   (zero.three level) See HintWhy does the opera firm provide these low-priced tickets? Select a number of:A. This creates a frenzy for last-minute scholar tickets.B. It needs college students to have entry to exhibits at a low worth.C. It is ready to promote seats that will in any other case go unsold.D. It is aware of that every one college students have an elastic demand for opera tickets.  Half 2   (zero.three level) See HintHow does the opera firm profit from this observe? Select a number of:A. The Met is ready to cost completely different costs to completely different teams, elevating its income.B. The Met can enhance attendance amongst a gaggle of individuals with extra elastic demand by charging them a cheaper price.C. The Met is ready to generate income from unsold seats with out having to drop the worth for nonstudents.D. The Met can successfully price-discriminate between college students and nonstudents.  Half three   (zero.three level) See HintWhy are college students, and never different teams of shoppers, provided the discounted tickets? Select a number of:A. Typically, college students have a extra elastic demand.B. Typically, college students have a extra inelastic demand.C. Typically, college students are extra versatile and prepared to purchase tickets on the final minute.D. Typically, college students love opera. 
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