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Please prove that, in a monopoistic market, P=(MC)/(1+(1//E_(d)))
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- Discuss at least 1 pricing practice that is illegal or unethicalEach consumer has the following demand for annual visits to a park is: Q = 100 - P, where Q is the number of visits to the park per year and P is the price per visit. In Kentucky, this particular park has a monopoly on the park market in the area. If the marginal cost of serving each customer is $10 per visit, what is the optimal two-part tariff that this park could charge each customer? Answer OptionsAnnual Fee = $4050; P= $10 for each visit Annual Fee = $4050; P= $0 for each visit Annual Fee = $5000; P= $10 for each visitAnnual Fee = $5000; P= $0 for each visitSuppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be represented as p = 80 - 4q where p is price in $ per hour and q is hours per month. The firm faces a constant marginal cost of $20. If the firm will use a two-part pricing system and charge a monthly access fee plus a per hour rate, the monthly access fee will equal Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be represented as p = 80 - 4q where p is price in $ per hour and q is hours per month. The firm faces a constant marginal cost of $20. If the firm will use a two-part pricing system and charge a monthly access fee plus a per hour rate, the monthly access fee will equal $450. $50. $80. $15.
- Sean is a monopolist who operates a business rigging tablets to run twice as fast as the original specifications. If Sean charges $40, he would have 10 customers, but if he lowers the price to $37, he would have 11 customers. What is the marginal revenue of the 11th customer?Resource pricing A. is monopolistically determined. B. is used to reduce income inequality. C. determines people’s incomes. D. cannot be predicted.Describe how marketersclassify products
- Identify nine common pricing methods.Each consumer has the following demand for annual visits to Planet Fitness: Q = 200 - P (or P = 200 - Q), where Q is the number of visits to Planet Fitness per year and P is the price per visit. In western Maryland, Planet Fitness has a monopoly on the gym market in the area. If the marginal cost of serving each customer is $10 per visit, what is the optimal two-part tariff that Planet Fitness could charge each customer? Annual fee = $18,050; P = $0 for each visit. Annual fee = $20,000; P = $0 for each visit. Annual fee = $18,050; P = $10 for each visit. Annual fee = $20,000; P = $10 for each visit.Shell has over 13,000 gas stations in the United States. In addition to gasoline, the gas stations also sell convenience items, such as snacks, non-alcoholic beverages, wine, beer, and hot food. Suppose you work for a gas station and your boss asks you to develop a pricing strategy for bottled local wine. The demand function is ? = 100 – 4?, where ? is the monthly quantity demanded of the bottled wine and ? is the price of the bottled wine. The marginal cost per bottle of wine is $5. Complete the following tasks: 1) (Calculating) In the worksheet “Q2 Calculations” of the provided Excel file, enter formulas in columns B-D to calculate Q (quantity demanded), MC (marginal cost), and MR (marginal revenue). Please round your results to one decimal place. Note that the inverse demand function is ? = 25 − 0.25? and that the MR function can be derived from the inverse demand function using the formula introduced in Module 5. You may find it helpful to review the Excel file for Chapter 11.
- Each consumer has the following demand for annual visits to Planet Fitness: Q = 100 - P, where Q is the number of visits to Planet Fitness per year and P is the price per visit. In western Maryland, Planet Fitness has a monopoly on the gym market in the area. If the marginal cost of serving each customer is $10 per visit, what is the optimal two-part tariff that Planet Fitness could charge each customer? Annual fee = $4,050; P = $10 for each visit Annual fee = $5,000; P = $0 for each visit. Annual fee = $4,050; P = $0 for each visit. Annual fee = $5,000; P = $10 for each visit.There are two types of consumers in Melbourne: students and non-students. The student population is 10, and each student’s demand of printing paper is Q=1−p, for p<1. The non-student population is 40, and each non-student’s demand of printing paper is Q=3−p, for p<3. Suppose OfficeMax is the only seller of printing paper in Melbourne. Assume zero production cost. OfficeMax introduces printing paper in smaller packages targeting the students. The non-students are willing to pay 5 for a smaller package and 7 for a standard package, and the students are willing to pay 3 for a smaller package and 4 for a standard package. If a consumer does not purchase, her utility is zero. Find all the prices, Pn for a smaller package and Ps for a standard package, so that the students choose the smaller packages and the non-students choose the standard ones.You estimate that a typical consumer’s inverse demand function is P=200-20Q and your cost function is C=80Q. Determine the optimal two-part pricing strategy. How much will 4 consumers pay?