Carlos, a retiree, owns and lives on a piece of land in the desert that isn't worth much. One day, a giant meteor falls in the middle of his property. As it turns out, two groups of people are interested in visiting it: scientists (Market A) and tourists (Market 8). Carlos decides to sell tickets to visit the meteor In both Market A and Market 6. He stays home all day anyway, so collecting money from visitors isn't a problem for him. Therefore, you can assume he has zero costs. The demand (D) and marginal revenue (MR) curves for the two markets are shown on these two graphs. Suppose Carlos has to charge the same ticket price in each of the two markets. If he sets a price of $8 per ticket, the total quantity demanded will be___ tickets per hour. Now suppose Carlos can price discriminate by charging a different price In each market. Because Cart has no costs, he chooses prices fix scientists and tourists that maximize his total revenue. In order to maximize revenue, Carlos should charge___per ticket In Market A and___per ticket In Market 8. At these prices (P), he will sell a total quantity (Q) of___ tickets per hour. Refer back to your answers to the previous two questions. Suppose Carlos decides that he wants to limit admission to 8 people per hour, but he still wants to generate the most revenue possible. If Carlos is forced to charge everyone the same price, he will earn revenues of ___ per hour. If he can price discriminate by charging a different price In each market, he can earn revenues of up to___ per hour.



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