Use the Following Information to Answer the Following Questions: the Accompanying

question 44

Multiple Choice

Use the following information to answer the following questions: The accompanying figure depicts the demand (D) curve for general admission concert tickets to see ECON-Jammin',the world's first economics rock band,which is scheduled to visit your city next month.The concert venue can accommodate 100 fans with a marginal cost (MC) of $10 per person.

-ECON-Jammin' has recently discovered that its fans are made up of two distinct groups that can be easily distinguished.The band has decided to utilize its economic knowledge and offer a high-priced ticket of $40 per person and a low-priced ticket of $20 per person.Based on this information,what is the gain in net revenue from using price discrimination versus a single-price model?

• A) $200
• B) $150
• C) $100
• D) $50
• E) $0

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Definitions:

Millivolts

A unit of electric potential equal to one-thousandth of a volt, commonly used in measuring small voltage differences.

Neuron

A specialized cell in the nervous system that transmits information to other nerve cells, muscle cells, or gland cells, primarily through electrical and chemical signals.

Glia

Supportive cells in the central nervous system that provide support and nutrition, maintain homeostasis, form myelin, and participate in signal transmission in the nervous system.

Neurons

Specialized neurons within the nervous system that convey information via electrical and chemical signals.