The Figure Given Below Shows the Demand Curves of Two

question 86

Multiple Choice

The figure given below shows the demand curves of two classes of buyers for tickets to a football match. Figure 10.4
D₁: Demand curve of group 1
D₂: Demand curve of group 2
MR₁: Marginal revenue of group 1
MR₂: Marginal revenue of group 2
MC: Marginal cost
-Refer to Figure 10.4.What price must be charged to both the groups to maximize profits?

• A)P₁
• B)P₂
• C)Group 1 must be charged P₁ and group 2 must be charged P₂.
• D)Group 1 must be charged P₂ and group 2 must be charged P₁.
• E)Both the groups must be charged a price that is equal to the marginal cost.

---

Definitions:

Social Pressure

involves the influence exerted by a social group on individuals to change their behaviors, beliefs, or attitudes.

Actual Pressure

The real or genuine force, influence, or stress exerted on someone or something.

Organizational Culture

Refers to the set of shared values, beliefs, and norms that influence the way employees think, feel, and behave within an organization.

Underrepresentation

The inadequate or disproportionately low representation of a particular group.