More students prefer to take 10 a..m. classes than 8 a.m. classes, meaning that the demand...

More students prefer to take 10 a..m. classes than 8 a.m. classes, meaning that the demand for seats in 10 a.m. classes at the university is higher than the demand for seats in 8 a.m. classes. The supply of seats is fixed. If the university can only charge one price, regardless the time, but wishes to maximize the total number of seats purchased during the day, it should set the price

a.
at equilibrium for 8 a.m. classes.

b.
at equilibrium for 10 a.m. classes

c.
midway between the two equilibria

d.
below either 8 a.m. or 10 a.m. equilibrium price.

2. More students prefer to take 10 a..m. classes than 8 a.m. classes, meaning that the demand for seats in 10 a.m. classes at the university is higher than the demand for seats in 8 a.m. classes. The supply of seats is fixed. If the university can charge a different price based on time, and wishes to maximize the total number of seats purchased during the day, it should set:

	a.	only one price at equilibrium for 8 a.m. classes.
	b.	only one at equilibrium for 10 a.m. classes
	c.	a lower price for 8 a.m. when there is a low demand and a higher price for 10 a.m. when there is a high demand.
	d.	none of the above

Expert Solution

1) The answer is A -) At the equilbruim for 8 a.m classes.

because when the university wishes to maximize the total number of seat , it should set the price at equilbruim for 8.am classes because the demand for 8.am classes is low, so by doing that he will maximize his total number of seat.

2) The answer is C -) A lower price for 8 a.m. when there is a low demand and a higher price for 10 a.m. when there is a high demand.

Rahul Sunny answered 2 years ago

A researcher whether introverts are more likely to prefer online classes than extraverts. They decide to...

A researcher whether introverts are more likely to prefer online classes than extraverts. They decide to test this theory by asking a sample of n = 80 people (a) whether they are an introvert or an extravert, and (b) whether they prefer online or InPerson classes. Below is the data from the study: Online InPerson Introvert ƒo = 8 ƒo = 19 Extravert ƒo = 23 ƒo = 30 (a) Compute df and determine the critical value for χ2 for...

Do students in early morning classes do more poorly than students in later classes? During one...

Do students in early morning classes do more poorly than students in later classes? During one semester of Quan 2010, exam scores were averaged for one section of 28 students who met at 8:00am, and for another section of 37 students who met at 10:50am. The earlier section had a mean score of 80.6 with a variance of 103, while the later section had a mean score of 81.5 with a variance of 138. At a significance level of...

2. Mr.Jones suspects that the majority of his students (more than a proportion of .5) prefer...

2. Mr.Jones suspects that the majority of his students (more than a proportion of .5) prefer projects to exams. He decides to conduct a hypothesis test to investigate this. He asks a random sample of 25 students whether they prefer projects or exams and 14 of them say they prefer projects. Use this information to answer the following questions. a. (2 points) What is the null hypothesis about the proportion of students that prefer projects? b. (2 points) What is...

A teacher is currently teaching two statistics classes, one at 8:00 A.M. and the other at...

A teacher is currently teaching two statistics classes, one at 8:00 A.M. and the other at 10:00 A.M. The accompanying table summarizes the attendance records by showing the probability of the number of absent students per class. Complete parts a and b. Probability Number of Absent Students 8 A.M. Class 10 A.M. Class 0 0.06 0.11 1 0.15 0.46 2 0.34 0.21 3 0.15 0.11 4 0.22 0.06 5 0.08 0.05 a. Calculate the mean number of students absent...

If you take any personal financial classes, you will more than likely hear and be warned...

If you take any personal financial classes, you will more than likely hear and be warned about keeping out of debt. For instance, Proverbs 22:7 says, "The rich rules over the poor, and the borrower is servant to the lender." Yet, from an accounting perspective, the balance sheet incorporates liabilities (debts) and is part of the accounting equation. If you wanted to run your business according to godly principles, how could you balance this with the idea of borrowing money...

10. A student has to take eight hours of classes a week. M-F. They want to...

10. A student has to take eight hours of classes a week. M-F. They want to have fewer hours on Friday than on Thursday. In how many ways can they do this? Assume that student need not go class everyday, just need more hours on Th than Fr.

Suppose in a survey of n = 400 students, 255 responded that they prefer small classes...

Suppose in a survey of n = 400 students, 255 responded that they prefer small classes and 145 responded that they prefer large classes. Let p denote the fraction of all students who preferred small classes at the time of the survey, and ^ p be the fraction of survey respondents who preferred small classes. (Hint: X is distributed as a Bernoulli random variable) 1.Use the survey result to estimate p, and calculate the standard error of your estimator. (Hint:...

5.19 At 8:00 A.M. there are 10 vehicles in a queue at a toll booth and...

5.19 At 8:00 A.M. there are 10 vehicles in a queue at a toll booth and vehicles are arriving at a rate of Ȝ(t) = 6.9 − 0.2t. Beginning at 8 A.M., vehicles are being serviced at a rate of ȝ(t) = 2.1 + 0.3t (Ȝ(t) and ȝ(t) are in vehicles per minute and t is in minutes after 8:00 A.M.). Assuming D/D/1 queuing, what is the maximum queue length, and what would the total delay be from 8:00 A.M....

Should universities require students to take physical education classes?

Should universities require students to take physical education classes?Describe the advantages and disadvantagesDiscuss that and give your opinion (at least two pharagrah).

Please answer all the questions, won’t take more than 10 mins What are the characteristics of...

Please answer all the questions, won’t take more than 10 mins What are the characteristics of living things? How do the isotopes of a single element differ from each other? Explain with an example. What are the names and pH values of the strongest acid, and strongest base? What are the names of Biological Macromolecules. Give one example of following CARBOHYDRATES; - Monosaccharide - Disaccharide - Polysaccharide 6. What are the subunits (building blocks) of proteins? 7. What are the...

Question