The illinois central railroad once asked the illinois commerce commission for permission to increase its commuter rates by 20 percent. the railroad argued that declining revenues made this rate increase essential. opponents of the rate increase contended that the railroad's revenues would fall because of the rate hike. it can be concluded that:
(a) both groups felt that the demand was elastic but for different reasons. both groups felt that the demand was inelastic but for different reasons
(b) the railroad felt that the demand for passenger service was inelastic and opponents of the rate increase felt it was elastic.
(c) the railroad felt that the demand for passenger service was elastic and opponents of the rate increase felt it was inelastic.

Chester has a credit score of 595 according to the following table his credit rating is considered to be which of these

Max fischer is a beekeeper. his annual group insurance costs 11,700. his employer pays 60% of the cost. how much does max pay semimonthly for it?

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?