Suppose your elasticity of demand for your parking lot spaces is –2, and price is $8 per day. If your MC is zero, and your capacity is 80% full at 9 A.M. over the last month, are you optimizing?
Answer to relevant QuestionsSuppose your elasticity of demand for your parking lot spaces is – 0.5, and price is $20 per day. If your MC is zero, and your capacity at 9 A.M. is 96%full over the last month, are you optimizing?Some Internet retailers track whether its customers have recently visited popular price-comparison sites. Why might these retailers offer different prices to those who have and have not recently visited price-comparison ...Two airlines, A and B, are deciding to choose whether Atlanta or Chicago should be their major hub. Given the diagram here, find all equilibria of thisgame.1. If you roll a pair of standard dice, what’s the probability that the total will be an odd number less than six?a. 0.083b. 0.167c. 0.25d. 0.52. You are taking a multiple-choice test that awards you one point for a ...In the three-bidder auction, suppose that bidders two and three collude or merge. What is the expected effect of the merger?
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