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Author Question: What is the total cost, at the level of production where Pastry Paradise is indifferent between ... (Read 70 times)

futuristic

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on: Jul 1, 2018
What is the total cost, at the level of production where Pastry Paradise is indifferent between which technology is used?
 a. 1750
  b. 1000
  c. 1500
  d. 2000

Question 2

Buy Airline Tickets over the Weekend A recent study by economists Steven Puller and Lisa Taylor found that airline tickets purchased over the weekend were priced 5 lower on average. Why would airlines charge lower prices to customers making bookings on the weekend?


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Dinolord

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

This is a price discrimination scheme. Weekday bookings tend to be for business travel and weekend bookings tend to be for tourist travel. Tourists tend to be more flexible in their travel plans and so are more elastic customers. The weekend price is a way to offer them discounts while reducing the risk of arbitrage from the business customers.


futuristic

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

jackie

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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