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Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Textbook Question
Chapter 19, Problem 1WNG
A college raises its annual tuition from $23,000 to $24,000, and its student enrollment falls from 4,877 to 4,705. Compute the
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In the following table, complete the third column by determining the quantity sold in each country at a price of $18 per toy train. Next, complete the
fourth column by calculating the total profit and the profit from each country under a single price.
Price
Single Price
Quantity Sold
Price Discrimination
Country
(Dollars per toy
train)
(Millions of toy
trains)
Profit
(Millions of
dollars)
Price
(Dollars per toy
train)
Quantity Sold
(Millions of toy
trains)
Profit
(Millions of
dollars)
France
18
Russia
18
Total
N/A
N/A
N/A
N/A
Suppose that as a profit-maximizing firm, Le Jouet decides to price discriminate by charging a different price in each market, while its marginal cost of
production remains $8 per toy.
Complete the last three columns in the previous table by determining the profit-maximizing price, the quantity sold at that price, the profit in each
country, and total profit if Le Jouet price discriminates.
Le Jouet charges a lower price in the market with a relatively
elastic…
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Chapter 19 Solutions
Economics (MindTap Course List)
Ch. 19.1 - On Tuesday, the price and quantity demanded are 7...Ch. 19.1 - What does a price elasticity of demand of 0.39...Ch. 19.1 - Prob. 3STCh. 19.1 - Prob. 4STCh. 19.2 - Prob. 1STCh. 19.2 - Prob. 2STCh. 19.4 - Prob. 1STCh. 19.4 - Prob. 2STCh. 19.4 - Prob. 3STCh. 19.4 - Prob. 4ST
Ch. 19 - Prob. 1QPCh. 19 - For each of the following, identify where demand...Ch. 19 - Prove that price elasticity of demand is not the...Ch. 19 - Prob. 4QPCh. 19 - Prob. 5QPCh. 19 - Suppose a straight-line downward-sloping demand...Ch. 19 - Prob. 7QPCh. 19 - Prob. 8QPCh. 19 - Prob. 9QPCh. 19 - Prob. 10QPCh. 19 - Prob. 11QPCh. 19 - Prob. 12QPCh. 19 - Prob. 13QPCh. 19 - Prob. 14QPCh. 19 - A college raises its annual tuition from 23,000 to...Ch. 19 - As the price of good X rises from 10 to 12, the...Ch. 19 - The quantity demanded of good X rises from 130 to...Ch. 19 - The quantity supplied of a good rises from 120 to...Ch. 19 - Prob. 5WNG
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