Lesson 8 Quiz No- 2part pricing
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's producer surplus from both students and adults? $2500 $4950 $2450 $50
$2450
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's producer surplus from adults? $400 $2400 $2500 $0
$2500
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate.What is the monopolist's producer surplus from both students and adults? $2900 $2500 $2100 $4900
$2900
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What price per ticket does the theater charge students to maximize profits? $4 $7 $6 $12
$4
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's producer surplus from students? $400 $2400 $2500 $0
$400
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What price per ticket does the theater charge adults to maximize profits? $4 $7 $6 $12
$7
A movie monopolist sells to students and adults. The demand function for students is Q^d (s underneath d) = 600 - 100P and the demand function for adults is Q^d (A underneath d) = 1200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. How many tickets does the theater sell to students to maximize profits? 2500 500 200 600
200
Suppose that the marginal cost of an additional ton of steel produced by a Japanese firm is the same whether the steel is set aside for domestic use or exported abroad. If the price elasticity of demand for steel is greater abroad than it is in Japan, which of the following will be correct? The Japanese firm will sell more steel abroad than they will sell in Japan. Insufficient information exists to determine whether the price or quantity will be higher or lower abroad. The Japanese firm will sell more steel in Japan than they will sell abroad. The Japanese firm will sell steel at a lower price abroad than they will charge domestic users. The Japanese firm will sell steel at a higher price abroad than they will charge domestic users.
The Japanese firm will sell steel at a lower price abroad than they will charge domestic users.
When a firm charges each customer the maximum price that the customer is willing to pay, the firm engages in second-degree price discrimination. engages in a discrete pricing strategy. engages in first-degree price discrimination. charges the average reservation price.
engages in first-degree price discrimination
A tennis pro charges $15 per hour for tennis lessons for children and $30 per hour for tennis lessons for adults. The tennis pro is practicing fifth-degree price discrimination. second-degree price discrimination. first-degree price discrimination. fourth-degree price discrimination. third-degree price discrimination.
third-degree price discrimination.
