At many municipal golf courses, local residents pay a lower fee to play than other golfers do. Onenecessary condition for the golf course to be able to successfully price discriminate according toresidency is thatA. they can check the identification cards of golfers to determine residency. endroite todB. local resident golfers and other golfers have the same price elasticity of demand to play at theto cadaluen air.com0. A...8851 0municipal course.C. there are many golf courses nearby from which golfers can choose.D. they require all golfers to rent a cart.

Price discrimination is a method of pricing in which a company charges various consumer segments…

At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that du at androlteon tuorli W Gentvidmine B. local resident golfers and other golfers have the same price elasticity of demand to play at the to and melowbab A. they can check the identification cards of s of golfers to determine residency. municipal course. C. there are many golf courses nearby from which golfers can choose. D. they require all golfers to rent a cart. 0. A 2.8

At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that du at androlteon tuorli W Gentvidmine B. local resident golfers and other golfers have the same price elasticity of demand to play at the to and melowbab A. they can check the identification cards of s of golfers to determine residency. municipal course. C. there are many golf courses nearby from which golfers can choose. D. they require all golfers to rent a cart. 0. A 2.8

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter13: Monopoly And Antitrust

Section: Chapter Questions

Problem 13P

See similar textbooks

Similar questions

Please solve Fast i give 2 like The managers of Movies Plus, a large movie theater, want to practice third-degree price discrimination. The managers have learned that college students have an own price elasticity of demand of 1.5 for tickets at Movies Plus and adults have an own price elasticity of 1.2. If the managers have correctly determined the third-degree profit-maximizing price for adults is $15, what is the third-degree profit-maximizing price to charge students? Group of answer choices (1)$13.50 (2)$10.00 (3)$7.50 (4)$8.50
Charging a price to different groups depending on their different demand elasticities is described as ... Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C Write your response here... d e Question 9 1st Deg Price Discrimination 2nd Deg Price Discrimination 3rd Deg Price Discrimination 2-part pricing Bundling
How do I get the price elasticity number?? and how do I graph it? P Q Price Total Elasticity Revenue $9.00 1 - 9 $8.00 2 16 $7.00 3 21 $6.00 4 24 $5.00 5 25 $4.00 6 24 $3.00 7 21 $2.00 8 16
126. The 1onovWIlng demanu TunctioII IS giveln. q = 40 – 3,5p Calculate the point elasticity of demand at p 20 and at p 10 A firm faces 127. demand function (where q=quantity demanded and p-price): q = 400 - 4p and a total cost (TC) function (where q=output): TC =q2 + 20q + 375 Find the firm's profit maximizing output level using the profit maximizing condition MR = MC A firm faces a demand function (where q=quantity demanded and p-price): q = 500- 6p 128.
If Omer has sport hall for adults and children. The currently price per ticket is OR 5 for everyone (adults and children). His friend Ali who studied economics course in CCBA advises him that there may be another way of increasing your total revenue. Given the demand curves (adult demand and child demand) shown, Adult Demand Child Demand Price Price $10 $10 8. 7 7 6 5 4 3 3 2 1 1 10 20 30 40 50 60 70 80 90 100 Quantity 10 15 20 25 30 35 40 45 50 Quantity Answer the following questions from the above two curves. a. What is Omer's current total revenue for both groups (adults and children)? b. Which market has the more inelastic demand? d. Given the graphs and what your friend knows about economics, he recommends you increase the price of adult's ticket to $8 and lower the price of a child's ticket to $3. How much could you increase total revenue if you take his advice?
Space Spider Airline is the only airline in Spiderland. The airline has two majorgroups of passengers – business travelers and vacation travelers. One group of themhas its price elasticity of demand at -1.8 and another group has -3.0 respectively.a. Which group, business travelers or vacation travelers, is more likely havingits price elasticity of demand at -3.0? Briefly explain your answer.b. Which traveler group will be charged a higher fare by Space Spider Airlineunder price discrimination? Suggest THREE practical ways for SpaceSpider Airline to identify this group of passengers. Explain your answersbriefly.
Your father owns a tourist site. He currently charges $5 per person who visits the site. Both Ghanaians and foreigners visit the site. The first demand curve is foreigners and the second is for Ghanaians. After your Econs 101 course you have realized that there may be a way to increase total revenue for your father. Using the demand curves below, answer the following questions. What is your father’s current total revenue for the 2 groups? The elasticity of demand is more elastic in which group or market? Which market has the more inelastic demand? 1 mark What is the elasticity of demand between the prices of $5 and $2 in the foreign market? Is this elastic or inelastic? What is the elasticity of demand between $5 and $3 in the Ghanaian market? Is this elastic or inelastic? Given the graphs and what you studied about economics, you recommend to your father to increase the price of foreigners to $8 each and lower the price of a Ghanaians to $3. How much could your father increase total…
The editorial Harper modern classics holds the rights to One Hundred Years of Solitude by Gabriel Garcia Marquez. The editorial sells the book both in the US and Colombia. The demand for the book in the US is given by Pus = 36 - 4Qus The demand for the book in Colombia is given by: = 24 - 42col . If MC-4 and Harper cannot price discriminate, who many units should Harper produce in the Colombian market to maximize profit? 0.75 1.75 2.75 3.75 P col 4.75
The following graph shows the daily demand curve for bippitybops in Detroit. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bippitybop) OTAL REVENUE (Dollars) 2400 1600 100 90 1200 80 1000 70 800 60 50 40 30 20 2200 + 10 2000 + 1800 + 0 1400 + Calculate the daily total revenue when the market price is $90, $80, $70, $60, $50, $40, $30, and $20 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph. (?) 0 ** B Demand 80 10 20 30 40 50 60 70 QUANTITY (Bippitybops per day) 90 100 Total Revenue A ? Total Revenue
(c) A discriminating monopolist is faced with the following price elasticities: e1-0.75 and What pricing policy should the monopolist adopt in the two markets? In which market will it be profitable for the monopolist to operate? Assume now that er ez 0.50, will it be advisable for the monopolist to discriminate or operate a single market? run. Briefly explain why the monopolist has no unique supply curve in the short Unlike the competitive firm, the monopoly firm can make supernormal profit in the long run. Explain why. e-1.50 i. ii. iii. iv. V.
Vik and Fleet produce trainers in the sports-shoe market. For one of their main productsthey have the following demand curves: Vik PV =175 - 1:2Qv, Fleet Pf = 125 - 0:8Qfwhere P is in Rs. and Q is in pairs per week. The firms are currently selling 80 and 75 pairsof their products per week respectively.a. What are the current price elasticities for the products?
Joe's Pig Palace sells barbecue plates for $4.50 each, and serves an average of 525 customers per week. During a recent promotion, Joe cut his price to $3.50 and observed an increase in sales to 600 plates per week. a. Calculate Joe's arc price elasticity of demand. b. Joe is considering permanently lowering his price to $4.00 to increase revenue. How many plates should Joe expect to sell at the new price? Does the move make sense in the light of Joe's desire to increase revenue?