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linda_us, Master's Degree
Category: Single Problem
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# suppose adults have the demand curve p=30-(2/5)quantity for

### Customer Question

suppose adults have the demand curve p=30-(2/5)quantity for tickets to local community theater. Children have a demand curve of p=10-(1/5)quantity. Furthermore, marginal cost = average cost = 4

1) Determine the price charged and number of tickets sold in each separate market. Draw a graph for each market.
2) Determine the total consumer surplus and the total producer surplus, Label these areas on your Graph.
3) Now, assume the theater wants to charge a single, uniform price in both markets. Draw a graph of the combined demand, and show the uniform price charged and total amount sold as well as the total consumer and producer surplus.
4) Determine consumer surplus, producer surplus with a uniform price. label these areas on the graph.
5) which pricing method does the producer prefer?
Submitted: 3 years ago.
Category: Single Problem
Expert:  Chirag replied 3 years ago.

Welcome and Thanks for using Just Answer.

I can assist you with this. But there is lot of work in this, including drawing multiple graphs. Can you add a \$30 bonus upon completion? Please let me know.

Thanks.

Customer: replied 3 years ago.
No I can't I am sorry
Customer: replied 3 years ago.
I need the answer because u paid \$40 and I have no more money
Expert:  Chirag replied 3 years ago.
Oh, sorry. I will opt out and open this to other experts. Someone else may help you. (PLEASE DO NOT REPLY TO THIS MESSAGE).

Thanks.
Customer: replied 3 years ago.
Would u like to do it without graphing?? But just graph the first question
Expert:  Chirag replied 3 years ago.
I have finished Part (1) [The calculations for price and quantity, and graphs for both markets]. In (2) I have to calculate the producers surplus, consumers surplus and put them on the graph. For (3), I have to do calculations and draw a totally new graph. In (4), I have to calculate and put surplus values etc. That was the amount of work.

Thanks.
Customer: replied 3 years ago.
Are you going to send the answer or not ??
Expert:  Chirag replied 3 years ago.
Hello, I mentioned to you that I can't do the whole for this price. I can post answers to the first two parts only for this price. Let me know if you would like to have them.

Thanks.
Customer: replied 3 years ago.
Customer: replied 3 years ago.

well then can i have at least the first three parts. please

thanks

Expert:  Chirag replied 3 years ago.
The third part has both graph and calculations. First, I have to work out the combined demand function, price and demand, then graph them, and then use the graph to compute the surpluses. I really can't do that.
Customer: replied 3 years ago.

how about if you send me the third part ??

because all my question its about that part ??

Expert:  Chirag replied 3 years ago.

Thanks.

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