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Category > Economics Posted 29 May 2018 My Price 3.00

Albatross Airlines

27.6

Albatross Airlines has a monopoly on air travel between Peoria and Dubuque. If Albatross makes one trip in each direction per day, the demand schedule for round trips is q = 160−2p, where q is the number of passengers per day. (Assume that nobody makes one-way trips.) There is an "overhead" fixed cost of $2,000 per day that is necessary to fly the airplane regardless of the number of passengers. In addition, there is a marginal cost of $10 per passenger. Thus, total daily costs are $2, 000+10q if the plane flies at all. 

 

(b) Calculate the profit-maximizing price and quantity and total daily

profits for Albatross Airlines. p = , q = , π = ?

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Maurice Tutor
(5)
Status NEW Posted 29 May 2018 08:05 PM My Price 3.00

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