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Lilit [14]
3 years ago
14

Even though many ballparks practice price discrimination between adults and children in selling tickets, such discrimination is

not applied at the concession stands because
Business
2 answers:
Digiron [165]3 years ago
8 0

Answer:

Price discrimination occurs when the same goods or services are charged by a company at different customer prices. Many types of price discrimination are illegal such as charging more for women's haircuts than men's haircuts. To be legal, it is necessary to justify the different prices charged to another group by the amount of effort required.

In that case, even if ballparks charge different prices for children than for adults, it is not often done at the concession stands because children can purchase cheaper tickets that later could be used by adults.

IRISSAK [1]3 years ago
3 0
Discrimination is not applied at the concession stands because there can be exchange of the product from children, who'd buy it at a lower price, to adults.
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The value of the VMP are 600, 570, 540, 510, 480, 450. The total workers to be hired are 4 workers because MRL > wage.

<h3>How to solve for the VMP</h3>

= MP * selling price

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This has been computed in the excel file that I have attached to the question.

2. A competitive firm is going to have to hire when the wage is equal to MRPL or MRPL is greater than the wage

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Answer:

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Explanation:

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The entrepreneur while approaching venture capitalist should have a  detailed and well organized business plan as is the only way to gain a venture capitalists attention and obtain funding. They do not invest on a two page summary.

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