Answer:
The ticket price that maximizes revenue is $18.10
Explanation:
Hi, first we need to construct the revenue equation in terms of the additional dollar charge (that would be X). That is:
So we expand it:
This is a parabola, and we need to find its vertex, which in our case that would be the maximum additional dollar charge in order to obtain the highest revenue possible, to find the vertex, we need to consider that:
And to find the X-coordenate we have to use the following equation.
In our case, A= -65; B= 1,247.5, so, all should look like this:
That means, we need to make 9.6 increments of $1 in order to obtain the max revenue possible, therefore, the price would be
Price = $8.50 + $1(9.6)= $8.50 + $9.6 =$18.10
Best of luck.
Answer: Relationship Marketing
Explanation:
Relationship marketing is a form of marketing where a business tries to create a lasting bond with their customers, done by constant communication with their customers to get feedback of their products/ services.
Phat International is making use of dialogue with their customers to create more loyal customers which is a form of relationship marketing.
A pure-monoply means that a company does not have to compete with other producers within the market. Since they aren't competing with a good or service, they aren't competing with each others customers either. When a company does not have to compete on price/customers they may end up being greedy and have market failure.
Answer:
1. per se application
U.S. Competition Law
This law checks whether certain parts of a contract or agreement have violated US antitrust laws.
2. Misuse of activity
EU Competition Law
This is part of the European Union's competition law that prohibits the use of activity to try to gain unfair advantges.
3. Extraterritoriality
US and EU
This is a provision in both US and EU anti-competition and anti-trust laws that states that the activities of foreign companies fall under the law if these activities influence the people within the jurisdiction of the US or the EU.
4. Trade obstacle, nontariff
France
These are a part of the French system.
5. Strict liability
U.S. Tort Law
A concept in US Tort law that states that a person is liable for an offence they committed and their state of mind or intent when they committed said offence is irrelevant.
6. Punitive damages
U.S. Product Liability Law
A concept in the US that allows for the extra punishment of the party in the wrong to dissuade others from doing so and to reward the party in the right more justly.
