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Exam 11: Pricing Policies

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Exam 1: Supply, Demand, Balancing Benefits, Costs, Principles and Preferences11 Questionsadd course
Exam 2: From Demand to Welfare, Constraints, Choices, and Demand14 Questionsadd course
Exam 3: Technology and Production13 Questionsadd course
Exam 4: Cost13 Questionsadd course
Exam 5: Choices Involving Time and Profit Maximization12 Questionsadd course
Exam 6: Behavioral Economics, Choices Involving Strateg and Choices Involving Risk17 Questionsadd course
Exam 7: Equilibrium and Efficiency21 Questionsadd course
Exam 8: Market Intervention17 Questionsadd course
Exam 9: General Equilibrium, Efficiency, and Equity14 Questionsadd course
Exam 10: Monopoly30 Questionsadd course
Exam 11: Pricing Policies39 Questionsadd course
Exam 12: Oligopoly31 Questionsadd course
Exam 13: Externalities and Public Goods17 Questionsadd course
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Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of who has a monthly demand curve for wireless minutes of Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of who has a monthly demand curve for wireless minutes of , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.25 per minute, what is Always There's profit per customer? , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.25 per minute, what is Always There's profit per customer?

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(Multiple Choice)
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Question 1
Correct Answer:
Verified

A

Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute, what is the difference in profit per customer compared to when it charges the marginal cost? , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute, what is the difference in profit per customer compared to when it charges the marginal cost?

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(Multiple Choice)
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Question 2
Correct Answer:
Verified

C

A movie monopolist sells to students and adults. The demand function for students is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. How many tickets does the theater sell to students to maximize profits? and the demand function for adults is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. How many tickets does the theater sell to students to maximize profits? . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. How many tickets does the theater sell to students to maximize profits?

Free
(Multiple Choice)
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Question 3
Correct Answer:
Verified

C

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. What is Always There Wireless's total profit? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. What is Always There Wireless's total profit? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. What is Always There Wireless's total profit?

(Multiple Choice)
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Question 4

A movie monopolist sells to students and adults. The demand function for students is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from students? and the demand function for adults is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from students? . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from students?

(Multiple Choice)
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Question 5

A movie monopolist sells to students and adults. The demand function for students is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What price per ticket does the theater charge students to maximize profits? and the demand function for adults is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What price per ticket does the theater charge students to maximize profits? . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What price per ticket does the theater charge students to maximize profits?

(Multiple Choice)
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Question 6

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. How much can Always There Wireless charge as a fixed fee without losing the low-demand consumers? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. How much can Always There Wireless charge as a fixed fee without losing the low-demand consumers? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. How much can Always There Wireless charge as a fixed fee without losing the low-demand consumers?

(Multiple Choice)
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Question 7

Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute, what is Always There's total profit? , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute, what is Always There's total profit?

(Multiple Choice)
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Question 8

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will low-demand consumers purchase? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will low-demand consumers purchase? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will low-demand consumers purchase?

(Multiple Choice)
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Question 9

Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.25 per minute, what is Always There's total profit? , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.25 per minute, what is Always There's total profit?

(Multiple Choice)
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Question 10

Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute, how many minutes will each customer buy each month , where P is the per-minute price in dollars. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute, how many minutes will each customer buy each month

(Multiple Choice)
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Question 11

A movie monopolist sells to students and adults. The demand function for students is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from both students and adults? and the demand function for adults is A movie monopolist sells to students and adults. The demand function for students is and the demand function for adults is . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from both students and adults? . The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from both students and adults?

(Multiple Choice)
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Question 12

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Which price per minute is the most profitable? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Which price per minute is the most profitable? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Which price per minute is the most profitable?

(Multiple Choice)
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Question 13

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is Always There Wireless's profit from sales for each low-demand consumer? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is Always There Wireless's profit from sales for each low-demand consumer? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is Always There Wireless's profit from sales for each low-demand consumer?

(Multiple Choice)
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Question 14

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Which price per minute is the most profitable? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Which price per minute is the most profitable? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Which price per minute is the most profitable?

(Multiple Choice)
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Question 15

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will high-demand consumers purchase? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will high-demand consumers purchase? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will high-demand consumers purchase?

(Multiple Choice)
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Question 16

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. How many minutes will low-demand consumers purchase? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. How many minutes will low-demand consumers purchase? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. How many minutes will low-demand consumers purchase?

(Multiple Choice)
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Question 17

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. How many minutes will high-demand consumers purchase? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. How many minutes will high-demand consumers purchase? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. How many minutes will high-demand consumers purchase?

(Multiple Choice)
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Question 18

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is Always There Wireless's profit from sales for each high-demand consumer? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is Always There Wireless's profit from sales for each high-demand consumer? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is Always There Wireless's profit from sales for each high-demand consumer?

(Multiple Choice)
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Question 19

Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. What is the profit from sales to each of the low-demand consumers? and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumers, each of whose monthly demand curve for minutes of wireless is , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. What is the profit from sales to each of the low-demand consumers? , where P is the per-minute price in dollars. Its marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. What is the profit from sales to each of the low-demand consumers?

(Multiple Choice)
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Question 20
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