Answer
the firm produces a willingness to pay=MC
so the firm will sell 3 tickets as 3 consumers have the willingness
to pay above or equal to marginal cost and it sells for the price
equal to a willingness to pay
total revenue =sum of willingness to pay =100+10+50
=$160
The firm sells 3 tickets and make $160 in revenue
Marginal Cost $8 2 points Person's Name | Freddie Freeman Mike Matheny | Albert Pujols | George Brett Willingness to pa...
The table below displays the willingness to pay of four people for tickets to the St. Louis Cardinals NLCS Series. Additionally, the St. Louis Cardinals face a constant marginal cost of $8 to sell the tickets. If the firm practiced perfect price discrimination it would sell tickets and its total revenues from the units that the firm decides to sell would equal dollars. Willingness to pay of Demand in Market for NLCS St. Louis Cardinals Ticket Marginal Cost Person's Name...
3. (Figure: Price-Discriminating Monopolist 2) The perfectly price-discriminating monopolist in this diagram will produce units of output, and a single price monopolist would produce units of output. Consumer surplus under a perfectly price discriminating monopolist is dollars less than under a single-price monopolist. While, perfect price discrimination results in reduced consumer surplus, it (increases/decreases) producer surplus and ultimately results in deadweight loss that is (less than/equal to greater than the amount of deadweight loss found in a perfectly competitive market....