Suppose you were head of a nationwide hotel chain that had a supply of 10,000 rooms. And suppose that the demand schedule for these rooms per night was as follows:
What would be the most profitable price, assuming you had a single-price policy? Now suppose you can price discriminate. How would you price your rooms and calculate the resulting total revenue?
Answer to relevant QuestionsSuppose you read the 2004 Census of Manu factures in Canada and noted four-firm concen tration ratios and Herfindahl-Hirschman indexes for the following oligopolistic industries: Which one represents the most unbalanced oli ...Jon Kaufman argues that the cable company in his neighborhood charges monopoly prices and that the municipal government should regulate it. Brad Fish disagrees. He thinks there is no reason to invite government in. Make the ...Outline the principal legislation enacted by Congress since 1890 to monitor and control monopoly in the U.S. economy. Describe why externalities generate market failure. What is the relationship between the law of diminishing returns and the downward slope of the marginal physical product curve?
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