Question 1 part a please 15-FL20: Problem Set Xlai_146 fl20_ps5 (1).pdffos/Downloads/lai_146_fl20_ps5%20(1).pdf1. A movie theater as a local monopoly faces two groups of moviegoers, students and non-students. The students' demand function for movie tickets is Qs = 200 – 20ps, and the* non-students' demand function is Qn = 100 – 5p,. The theater incurs zero marginalcost of serving additional customer, but there is a fixed cost of showing a movie at $100.(a) The movie theater charges a uniform ticket price to both students and non-students.(i) Sum the demand functions of the two groups of moviegoers.(ii) To maximize profit, how many tickets will be sold to students and non-studentsand at what price?(iii) What will be the movie theater's profit from uniform pricing?(b) The movie theater now charges different prices to students and non-students.(i) What could be a means for the movie theater to separate the two groups ofmoviegoers?(ii) To maximize profit, how many tickets will be sold to students and non-studentsand at what prices?(iii) What will be the movie theater's profit from group price discrimination?2. The individual demand for rides at an amusement park in Ellentown, Donkey Park, isrepresented by the demand function q = 8- p, where q is the number of rides and p isthe price. Donkey Park incurs a constant marginal and average cost of $2 per ride.(a) Suppose Donkey Park employs block pricing with two blocks. Find the profit-maximizing blocks and the corresponding block prices.(b) Suppose Donkey Park employs two-part pricing. Find the profit-maximizing en-trance fee and charge per ride.(c) Without calculating the deadweight loss, argue which pricing method, the one in(a) or the one in (b), results in a lower deadweight loss.3. The inverse demand a monopoly faces is1O

The monopoly-firm is using uniform pricing, this implies that the firm does not use price(P)…

1. A movie theater as a local monopoly faces two groups of moviegoers, students and non- students. The students' demand function for movie tickets is Qs = 200 – 20ps, and the non-students' demand function is Q, = 100 5p. The theater incurs zero marginal cost of serving additional customer, but there is a fixed cost of showing a movie at $100. (a) The movie theater charges a uniform ticket price to both students and non-students. (i) Sum the demand functions of the two groups of moviegoers. (ii) To maximize profit, how many tickets will be sold to students and non-students and at what price? (iii) What will be the movie theater's profit from uniform pricing?

1. A movie theater as a local monopoly faces two groups of moviegoers, students and non- students. The students' demand function for movie tickets is Qs = 200 – 20ps, and the non-students' demand function is Q, = 100 5p. The theater incurs zero marginal cost of serving additional customer, but there is a fixed cost of showing a movie at $100. (a) The movie theater charges a uniform ticket price to both students and non-students. (i) Sum the demand functions of the two groups of moviegoers. (ii) To maximize profit, how many tickets will be sold to students and non-students and at what price? (iii) What will be the movie theater's profit from uniform pricing?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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