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Author Question: The market demand curve for a popular teen magazine is given by Q = 80 - 10P where P is the magazine ... (Read 114 times)

amal

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on: Jul 1, 2018
The market demand curve for a popular teen magazine is given by Q = 80 - 10P where P is the magazine price in dollars per issue and Q is the weekly magazine circulation in units of 10,000.
 
  If the circulation is 400,000 per week at the current price, what is the consumer surplus for a teen reader with maximum willingness to pay of 3 per issue? A) 2.00
  B) 1.00
  C) Zero
  D) -1.00

Question 2

A local restaurant offers early bird price discounts for dinners ordered from 4:30 to 6:30 PM. This is an example of
 
  A) peak-load pricing.
  B) second-degree price discrimination.
  C) a two-part tariff.
  D) tying.
  E) none of the above


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Benayers

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

D

Answer to Question 2

A


amal

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

sultana.d

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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