Balboa Park's Origami Organist plays live organ music in the summer and makes origami animals for...
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Balboa Park's Origami Organist plays live organ music in the summer and makes origami animals for kids in between shows. If Balboa Park's organ theater is open, the Origami Organist has to pay a fixed nightly amount of $500 for organ upkeep, ushers, and so on, regardless of how many people come to the organ concert. For simplicity, assume that if the organ theater is closed, its costs are zero. 12.50, where Qs is the number of concert The nightly inverse demand for the Origami Organist's concerts by students is Ps tickets demanded by students at price Ps. The nightly inverse demand for nonstudent patrons is PN = 14.00-2. = 40 If the Origami Organist charges a single uniform price so that each consumer type attends the concert, how many concert tickets would be sold? (Round your answer to two decimals if necessary.) Part 2 (1 point) At what uniform price would these tickets be sold? (Round your answer to two decimals if necessary.) Part 3 (1 point) feform rolling to hath consumer tunes for a uniform orice? (Round your answer to two decimals if necessary.) Part 2 (1 point) At what uniform price would these tickets be sold? (Round your answer to two decimals if necessary.) $ Part 3 (1 point) What are total profits from selling to both consumer types for a uniform price? (Round your answer to two decimals if necessary.) Part 4 (2 points) Suppose that the Balboa Park cashier can accurately separate the students from the nonstudents at the door by making students show their school ID cards. Students cannot resell their tickets and nonstudents do not have access to student ID cards. Then the Origami Organist can increase his profits by charging students and nonstudents different prices. What price will be charged to students and how many tickets will be sold? Page 315 Quantity sold to students (round to two decimals if necessary): Part 5 (2 points) As the Origami Organist is charging a different price for each consumer type to maximize profits, how many tickets will he sell to nonstudents, and what per-unit price should he charge them? Quantity sold to nonstudents (round to two decimals if necessary): Per-unit price for nonstudents (round to two decimals if necessary): $ Part 6 (1 point) What are total profits for the Origami Organist when a different price is charged to each consumer type? (Round your answer to two decimals if necessary.) $ Balboa Park's Origami Organist plays live organ music in the summer and makes origami animals for kids in between shows. If Balboa Park's organ theater is open, the Origami Organist has to pay a fixed nightly amount of $500 for organ upkeep, ushers, and so on, regardless of how many people come to the organ concert. For simplicity, assume that if the organ theater is closed, its costs are zero. 12.50, where Qs is the number of concert The nightly inverse demand for the Origami Organist's concerts by students is Ps tickets demanded by students at price Ps. The nightly inverse demand for nonstudent patrons is PN = 14.00-2. = 40 If the Origami Organist charges a single uniform price so that each consumer type attends the concert, how many concert tickets would be sold? (Round your answer to two decimals if necessary.) Part 2 (1 point) At what uniform price would these tickets be sold? (Round your answer to two decimals if necessary.) Part 3 (1 point) feform rolling to hath consumer tunes for a uniform orice? (Round your answer to two decimals if necessary.) Part 2 (1 point) At what uniform price would these tickets be sold? (Round your answer to two decimals if necessary.) $ Part 3 (1 point) What are total profits from selling to both consumer types for a uniform price? (Round your answer to two decimals if necessary.) Part 4 (2 points) Suppose that the Balboa Park cashier can accurately separate the students from the nonstudents at the door by making students show their school ID cards. Students cannot resell their tickets and nonstudents do not have access to student ID cards. Then the Origami Organist can increase his profits by charging students and nonstudents different prices. What price will be charged to students and how many tickets will be sold? Page 315 Quantity sold to students (round to two decimals if necessary): Part 5 (2 points) As the Origami Organist is charging a different price for each consumer type to maximize profits, how many tickets will he sell to nonstudents, and what per-unit price should he charge them? Quantity sold to nonstudents (round to two decimals if necessary): Per-unit price for nonstudents (round to two decimals if necessary): $ Part 6 (1 point) What are total profits for the Origami Organist when a different price is charged to each consumer type? (Round your answer to two decimals if necessary.) $
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Related Book For
Intermediate Accounting
ISBN: 978-1118742976
16th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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