Homework Answers
The answer is (a) Table B.
Table A
Bundle: The maximum price of the bundle could be 450 => Revenue = 450 x 3 = 1350
Without bundle: The price of food that could be charged = min (450, 500, 250) = 250 => Revenue = 250 x 3 = 750
The price of drinks that could be charged = min (150, 100, 200) = 100 => Revenue = 100 x 3 = 300
=> Total revenue = 750 + 300 = 1050
In table A, the revenue with bundle > revenue without bundle. Therefore, it makes sense to offer the goods as a bundle.
Table B
Bundle: The maximum price of the bundle could be 350 => Revenue = 350 x 3 = 1050
Without bundle: The price of food that could be charged = min (450, 500, 250) = 250 => Revenue = 250 x 3 = 750
The price of drinks that could be charged = min (150, 200, 100) = 100 => Revenue = 100 x 3 = 300
=> Total revenue = 750 + 300 = 1050
In table B, the revenue with bundle = revenue without bundle. Therefore, it does not make sense to offer the goods as a bundle.
Add Answer to:
A B WTP Food 450 WTP- Drink 150 WTP Bundle 600 WTP Food 450 WTP Drink...
A B WTP- WTP- Food 450 WTP Drink 150 WTP- Bundle 600 WTP- Food 450 Drink...
A B WTP- WTP- Food 450 WTP Drink 150 WTP- Bundle 600 WTP- Food 450 Drink 150 WTP- Bundle 600 Tom Tom 500 Rick 600 100 700 Rick 200 500 350 Harry 200 250 100 450 250 Harry In one of the tables above, it does not make any sense for the firm to offer the goods as a bundle since the producer surplus the firm will receive will be the same with or without the bundle. Which table is...
The market for airplane tickets $400 350 300 250 200 150 100 OL 0 25 50...
The market for airplane tickets $400 350 300 250 200 150 100 OL 0 25 50 75 100 125 (a) (2 pts) Find marginal buyers WTP at Q = 25. In the market without tax, compute his or her CS? (b) (4 pts) Compute CS, PS, and total surplus without a tax. (c) (4 pts) If $100 tax per ticket, compute CS, PS, tax revenue, total surplus, and DWL. (d) (4 pts) For the market without tax and the market...
Use the table provided. Suppose the quantity demanded increased by 500 units at each price. At...
Use the table provided. Suppose the quantity demanded increased by 500 units at each price. At a price of $14 per unit, would there be a surplus or shortage of this product? How much would the surplus or shortage be? Price Quantity Demanded Quantity Supplied 4 450 250 6 400 300 8 350 350 10 300 400 12 250 450 14 200 500 16 150 550 Group of answer choices surplus = 100 shortage = 100 surplus = 600 shortage...
Need help with question 9 please!!!!! Quantity of jets demanded Quantity of jets supplied Price of...
Need help with question 9 please!!!!!
Quantity of jets demanded Quantity of jets supplied Price of Jet (millions) 140 120 110 100 90 80 70 60 50 40 20 100 150 200 250 300 350 400 450 500 600 1200 1000 900 800 700 600 500 400 300 200 0 2 2Z 2oo Irot unnly and demand curves. What are the equilibriumprice and Illustrate graphically the economic effects ofan $90. Compute the producer surplus. PsH6。Q-400 8 export subsidy of 15%...
Illustrate graphically the economic effects of an export subsidy of 15% if the world price is...
Illustrate graphically the economic effects of an export
subsidy of 15% if the world price is 90. Compute the producer
surplus. Numbers 8-10 please.
Price of Jet (millions Quantity of jets demanded Quantity of jets supplied 140 120 110 100 90 80 70 60 50 40 1200 1000 900 800 700 600 500 400 300 200 100 150 200 250 300 350 400 450 500 600 20 Draw the market supply and demand curves. What are the equilibrium price and...
Consider the Bolivian market for lemons. The following graph shows the domestic demand and domestic supply...
Consider the Bolivian market for lemons. The following graph shows the domestic demand and domestic supply curves for lemons in Bolivia. Suppose Bolivia's government currently does not allow international trade in lemons. Use the black point (plus symbol) to indicate the equilibrium price of a ton of lemons and the equilibrium quantity of lemons in Bolivia in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...
Need help with #9 please. vrs Quantity of jets demanded 0 100 Price of Jet (millions)...
Need help with #9 please.
vrs Quantity of jets demanded 0 100 Price of Jet (millions) Quantity of jets supplied 140 120 110 150 200 250 300 350 400 450 500 600 1200 1000 900 800 700 600 500 400 300 200 100 90 80 70 60 50 40 20 7. Instead of a tariff the government imposes a quota of 80% of the amount of imported good, illustrate graphically the different economic effect of the quota and compute the...
username and passw. X TSU Password Reset /launchpad/item/module_krugmanwellsmicrobe_07/krugmanwellsmicro5e_lc_4?mode=Preview tudy Plan Score: 282/450 100 200 300 400...
username and passw. X TSU Password Reset /launchpad/item/module_krugmanwellsmicrobe_07/krugmanwellsmicro5e_lc_4?mode=Preview tudy Plan Score: 282/450 100 200 300 400 500 600 700 800 900 Quantity (hours of tutoring per week) If the price of tutoring is $10 per hour, total producer surplus is, in numerals, S. Your answer: Need help on this question? Read the ebook page on this topic Get a hint (fewer points) Show answer (no points) (no penalty
a. If the monopoly firm is not allowed to price discriminate, then consumer surplus amounts to ________________________...
a. If the monopoly firm is not allowed to price discriminate,
then consumer surplus amounts to
_______________________________
b. If the monopoly firm perfectly price discriminates, then
consumer surplus amounts to _______________________________
c. If the monopoly firm is not allowed to price discriminate,
then the deadweight loss amounts
_______________________________
d. If the monopoly firm perfectly price discriminates, then the
deadweight loss amounts to _______________________________
e. If there are no fixed costs of production, monopoly profit
without price discrimination equals
_______________________________
f....
Refer to the table to answer the questions that follow. Marginal Cost Average Variable Cost Average...
Refer to the table to answer the questions that follow. Marginal Cost Average Variable Cost Average Total Cost Output Profit at $450 per ton -$1,000 $200 $150 -$750 Total Cost ($ Per Ton) $1,000 $1,200 $1,350 $1,550 $1,900 $2,300 $2,750 $3,250 $3,800 $4,400 $5,150 $200 $1,200 $675 $517 $475 Profit at $500 per ton -$1,000 -$700 -$350 -$50 $100 $200 Profit at $550 per ton -$1,000 -$650 -$250 $100 $300 $450 $550 $600 $600 $550 $350 -$450 -$200 -$100 $200...
A B WTP- WTP- Food 450 WTP Drink 150 WTP- Bundle 600 WTP- Food 450 Drink 150 WTP- Bundle 600 Tom Tom 500 Rick 600 100 700 Rick 200 500 350 Harry 200 250 100 450 250 Harry In one of the tables above, it does not make any sense for the firm to offer the goods as a bundle since the producer surplus the firm will receive will be the same with or without the bundle. Which table is...
The market for airplane tickets $400 350 300 250 200 150 100 OL 0 25 50 75 100 125 (a) (2 pts) Find marginal buyers WTP at Q = 25. In the market without tax, compute his or her CS? (b) (4 pts) Compute CS, PS, and total surplus without a tax. (c) (4 pts) If $100 tax per ticket, compute CS, PS, tax revenue, total surplus, and DWL. (d) (4 pts) For the market without tax and the market...
Need help with question 9 please!!!!!
Quantity of jets demanded Quantity of jets supplied Price of Jet (millions) 140 120 110 100 90 80 70 60 50 40 20 100 150 200 250 300 350 400 450 500 600 1200 1000 900 800 700 600 500 400 300 200 0 2 2Z 2oo Irot unnly and demand curves. What are the equilibriumprice and Illustrate graphically the economic effects ofan $90. Compute the producer surplus. PsH6。Q-400 8 export subsidy of 15%...
Illustrate graphically the economic effects of an export
subsidy of 15% if the world price is 90. Compute the producer
surplus. Numbers 8-10 please.
Price of Jet (millions Quantity of jets demanded Quantity of jets supplied 140 120 110 100 90 80 70 60 50 40 1200 1000 900 800 700 600 500 400 300 200 100 150 200 250 300 350 400 450 500 600 20 Draw the market supply and demand curves. What are the equilibrium price and...
Consider the Bolivian market for lemons. The following graph shows the domestic demand and domestic supply curves for lemons in Bolivia. Suppose Bolivia's government currently does not allow international trade in lemons. Use the black point (plus symbol) to indicate the equilibrium price of a ton of lemons and the equilibrium quantity of lemons in Bolivia in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...
Need help with #9 please.
vrs Quantity of jets demanded 0 100 Price of Jet (millions) Quantity of jets supplied 140 120 110 150 200 250 300 350 400 450 500 600 1200 1000 900 800 700 600 500 400 300 200 100 90 80 70 60 50 40 20 7. Instead of a tariff the government imposes a quota of 80% of the amount of imported good, illustrate graphically the different economic effect of the quota and compute the...
username and passw. X TSU Password Reset /launchpad/item/module_krugmanwellsmicrobe_07/krugmanwellsmicro5e_lc_4?mode=Preview tudy Plan Score: 282/450 100 200 300 400 500 600 700 800 900 Quantity (hours of tutoring per week) If the price of tutoring is $10 per hour, total producer surplus is, in numerals, S. Your answer: Need help on this question? Read the ebook page on this topic Get a hint (fewer points) Show answer (no points) (no penalty
a. If the monopoly firm is not allowed to price discriminate,
then consumer surplus amounts to
_______________________________
b. If the monopoly firm perfectly price discriminates, then
consumer surplus amounts to _______________________________
c. If the monopoly firm is not allowed to price discriminate,
then the deadweight loss amounts
_______________________________
d. If the monopoly firm perfectly price discriminates, then the
deadweight loss amounts to _______________________________
e. If there are no fixed costs of production, monopoly profit
without price discrimination equals
_______________________________
f....
Refer to the table to answer the questions that follow. Marginal Cost Average Variable Cost Average Total Cost Output Profit at $450 per ton -$1,000 $200 $150 -$750 Total Cost ($ Per Ton) $1,000 $1,200 $1,350 $1,550 $1,900 $2,300 $2,750 $3,250 $3,800 $4,400 $5,150 $200 $1,200 $675 $517 $475 Profit at $500 per ton -$1,000 -$700 -$350 -$50 $100 $200 Profit at $550 per ton -$1,000 -$650 -$250 $100 $300 $450 $550 $600 $600 $550 $350 -$450 -$200 -$100 $200...
Most questions answered within 3 hours.
-
The population standard deviation for the height of college
basketball players is 3.4 inches. If we...
asked 30 seconds ago -
6.) Use valence bond theory to describe the number and types of
hybrid bonding orbitals on...
asked 2 minutes ago -
2. Define/explain the following traits that are important
adaptations for different types of vertebrate animals:
Jaws...
asked 3 minutes ago -
Firm K produced 45,000 radios using 9,000 hours of labor in
2003; total labor costs were...
asked 3 minutes ago -
Use the information in the table to answer the
question.
Year
2015
2016
2017
2018
Nominal...
asked 8 minutes ago -
Kelso Corporation just paid a dividend of D_0 = $1.50 per
share, and that dividend is...
asked 10 minutes ago -
Your ANOVA was statistically significant (Reject the
H0). The groups had a means of:
Group A:...
asked 16 minutes ago -
In cases of negative frequency-dependent selection, _______
phenotype typically has _______ fitness
A
the least common...
asked 18 minutes ago -
Class: Criminal Law
Question: Explain the difference between
aggravating and mitigating factors.
asked 23 minutes ago -
#I want you please to explain why the answer for Q10 is ( C )
?...
asked 24 minutes ago -
An island economy consumes only jellybeans, running shoes,
Pepsi, and Vanilla ice compact discs. The base...
asked 27 minutes ago -
On September 1, Ziegler Corporation had 50,000 shares of $5 par
value common stock, and $1,500,000...
asked 28 minutes ago