Managerial Economics And Globalization Question Description An amusement park, whose custo …

Managerial Economics And GlobalizationQuestion Description An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows:
The marginal operating cost of each unit of quantity is $5. Because marginal cost is a constant, so is average variable cost. Ignore fixed costs. The owners of the amusement part want to maximize profits.Price ($)QuantityAdultsChildren51520614187131681214911121010101198128613741462 Calculate the price, quantity, and profit if: The amusement park charges a different price in the adult marketPlease express your answers for Price and Profit in whole dollars (i.e.10.00) Please use whole numbers for Quanitity (i.e. 10, 27, 4)PriceQuantityTotal RevenueMarginal RevenueMarginal CostTotal CostMR-MCProfit 845.0030.0054.00 917.005.0035.002.00 965.005.0040.000.00 993.005.0045.00-2.00 1001.005.0050.00-4.00 99-1.005.0055.00-6.00 96-3.005.0060.00-8.00 91-5.005.0065.00-10.00 84-7.005.0070.00-12.00 75-9.00Question 5An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows:The marginal operating cost of each unit of quantity is $5. Because marginal cost is a constant, so is average variable cost.Ignore fixed costs. The owners of the amusement part want to maximize profits.Price ($)QuantityAdultsChildren51520614187131681214911121010101198128613741462 Calculate the price, quantity, and profit if: The amusement park charges a different price in the child’s marketPlease express your answers for Price and Profit in whole dollars (i.e.10.00) Please use whole numbers for Quanitity (i.e. 10, 27, 4)PriceQuantityTotal RevenueMarginal RevenueMarginal CostTotal CostMR-MCProfit 525.0020.00 7210.005.0030.005.00 888.005.0040.003.00 1006.005.0050.001.00 1084.005.0060.00-1.00 1122.005.0070.00-3.00 1120.005.0080.00-5.00 108-2.005.0090.00-7.00 100-4.005.00100.00-9.00 88-6.005.00110.00-11.00 An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows:
The marginal operating cost of each unit of quantity is $5. Because marginal cost is a constant, so is average variable cost. Ignore fixed costs. The owners of the amusement part want to maximize profits.Price ($)QuantityAdultsChildren51520614187131681214911121010101198128613741462 Calculate the price, quantity, and profit if: The amusement park charges the same price in the two markets combinedPlease express your answers for Price and Profit in whole dollars (i.e.10.00) Please use whole numbers for Quanitity (i.e. 10, 27, 4)Explain the difference in the profit realized under the two situations (the price in each market or in the two markets combined.)
PriceQuantityTotal RevenueMarginal RevenueMarginal CostTotal CostMR-MCProfit 143 30.0055.00 1688.335.0070.003.33 1876.335.0085.001.33 2004.335.00100.00-0.67 2072.335.00115.00-2.67 2080.335.00130.00-4.67 203-1.675.00145.00-6.67 192-3.675.00160.00-8.67 175-5.675.00175.00-10.67 152-7.675.00190.00-12.67

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