5. The price-elasticity of demand for a tub of popcorn at Minges-Coliseum is Ep = -1.5. The...
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5. The price-elasticity of demand for a tub of popcorn at Minges-Coliseum is Ep = -1.5. The marginal cost of a tub of popcorn is $1. What is the profit maximizing price of a tub of popcorn?
6. The price-elasticity of demand for leisure rail travel is Ep = -1.52. The price of a round-trip ticket for one passenger on Amtrak from Wilson to Miami this spring break is $157. Calculate the marginal cost to Amtrak of this trip?
Related Book For
Managerial economics applications strategy and tactics
ISBN: 978-1439079232
12th Edition
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
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