Question
Supposethere are two differenttypes of individualswho want tojoin theTrumpTurnberrygolfcourseinScotland.Somearehugefansofthepresident,withademandof Q=24-(1-)P,orP=l20-5Q Whileothersjustwanttoplaygolfandleavethepoliticstoothervenues: Q=10-(1-)P,orP=80-8Q Assumethecostperroundofgolfisthesame,regardlessofone'spoliticalaffiliations,andis40. a) Ifthereare600Trumpfans,and100golfonly,pleasefolks,whatwouldbe the ideal two-parttariff for Trump tocharge (assuming the TrumpOrganizationcannotchargedifferenttwo-parttariffsforthedifferenttypes)? b)
- Supposethere are two differenttypes of individualswho want tojoin theTrumpTurnberrygolfcourseinScotland.Somearehugefansofthepresident,withademandof
Q=24-(1-)P,orP=l20-5Q
Whileothersjustwanttoplaygolfandleavethepoliticstoothervenues:
Q=10-(1-)P,orP=80-8Q
Assumethecostperroundofgolfisthesame,regardlessofone'spoliticalaffiliations,andis40.
a) Ifthereare600Trumpfans,and100"golfonly,please"folks,whatwouldbe the ideal two-parttariff for Trump tocharge (assuming the TrumpOrganizationcannotchargedifferenttwo-parttariffsforthedifferenttypes)?
b) If instead there were 100 Trump fans, and 600 "golf only, please"folks, whatwouldbe the ideal two-parttariff for Trump tocharge (again, can'tchargedifferenttwo-parttariffsto eachtype)?
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Introductory Econometrics A Modern Approach
Authors: Jeffrey Wooldridge
7th Edition
1337558869, 978-1337558860
