A juice shop in Santa Barbara serves two types of consumers: tourists and locals. Tourists’ inverse demand per day is P(q) = (50−q)/5 . Locals’ inverse demand per day is P(q) = (500−q)/ 50 . In order to sell a total of 55 juice bottles per day, what price should the shop charge per bottle? (a) $12 (b) $10 (c) $9 (d) $8 3.
(continued from previous question) Assume that the number of tourists coming to Santa Barbara double. (This means that demand from tourists at every price level doubles.) But, at the same time, due to an economic recession, the local demand becomes more price sensitive. P(q) = (500−q)/ 100 .
Which statement is correct?
(a) To maximize revenue, it is optimal to price high enough to only target tourists.
(b) At the revenue maximizing price, there is higher revenue generated from the local population relative to tourists.
(c) The revenue maximizing price is $4 per bottle.
(d) If the tourists stop coming (demand decreases to 0), to maximize revenue the shop owner would increase the price.
A is correct but why?
In: Economics
What does it mean when the author said, "define the meaning of the social sciences for the cultural tasks of our time" in the book Sociological Imagination?
In: Psychology
In: Nursing
Chapter 5:Marriage and family class
Why does the author state that understanding occupational sex segregation is important for understanding gender inequality?
In: Biology
What was the most significant contribution made by Rachel Carson (Author of Silent Spring) who lived from 1904 to 1964 on environmental law?
In: Economics
Based on story " The Bear Came Over The Mountain"What point of view does the author employ in this story? How does it serve the story?
In: Psychology
A student obtained the following data in this experiment.
Fill in the blanks in the data and make the indicated
calculations:
Mass of gelatin capsule: 0.1 168 g
Mass of capsule plus alloy sample 0.2754 g
Mass of alloy sample, _______g
Temperature, t 21 C
Temperature, T ______K
Barometric pressure 746 mm Hg
Vapor pressure of H2O at t (CRC) ________mm Hg
Pressure of dry H2, PH2 (Eq. 7) ________mm Hg
________atm
Mass of empty beaker: 141.23 g
Mass of beaker plus displaced water: 307.75 g
Mass of displaced water : ________ g
Volume of displaced water(density = 1.00 g/mL) ________mL
Volume, V, of H2 = Volume of displaced water ________mL; _____
In: Chemistry
Suppose we are studying the effect of diet on height of children, and we have two diets to compare: diet A (a well-balanced diet with lots of broccoli) and diet B (a diet rich in potato chips and candy bars). We wish to find the diet that helps children grow faster. We have decided to use 20 children in the experiment, and we are contemplating the following methods for matching children with diets: i. Let them choose. ii. Take the first 10 for A, the second 10 for B. iii. Alternate A, B, A, B. iv. Toss a coin for each child in the study: heads→A, tails→B. v. Get 20 children; choose 10 at random for A, the rest for B. Describe the benefits and risks of using these five methods
In: Math
For the following exercises, calculate u ⋅ v.
Given v = 〈−3, 4⟩ draw v, 2v, and 1/2 v.
In: Math
Long-Term Care Reimbursement The federal and state governments are the largest payers of health care services in the United States. The largest federal programs are the Medicare and Medicaid services. Using the information from the textbooks, lectures, and Internet resources, provide a brief summary of Medicare and Medicaid services in a Microsoft Word document. To get up-to-date information on the programs, review the information shared on the following websites: The Centers for Medicare and Medicaid Services The Social Security Administration In your summary, include the following points: An overview of the different Medicare and Medicaid services The population covered under Medicare and Medicaid services The services of long-term care covered under Medicare and Medicaid, including the restrictions placed on them
REFERENCE: Title:Long-Term Care: Managing Across the Continuum Author: John Pratt Edition/Year: 4th Ed./2016 Publisher: Jones & Bartlett ISBN: 978-1-284-05459-0
Get up-to-date information on the programs, review the information shared on the following websites:
- The Centers for Medicare and Medicaid Services
- The Social Security Administration
In: Nursing