Economics

posted by .

Suppose two passengers end up with a reservation to Los Angeles. Two alternatives are proposed:
a. Toss a coin
b. Sell the ticket to the highest bidder
Compare the two options from the standpoint of efficiency and equity.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    Suppose you toss a coin and it you win a dollar if it comes up heads. If it comes up tails you toss the coin again. This time you get two dollars if it is heads. If it is tails you toss it again. This time you win four dollars if it …
  2. Math

    Suppose you toss a coin and roll a die. What is the probability of obtaining heads and a two?
  3. Economics/Math

    Airline pricing is a good example of price discrimination. Airlines set different prices for first-class and excursion. Suppose the economics division of a major airline company estimates the demand and marginal revenue functions for …
  4. Economics/Algebra

    Airline pricing is a good example of price discrimination. Airlines set different prices for first-class and excursion. Suppose the economics division of a major airline company estimates the demand and marginal revenue functions for …
  5. Miceoecon

    Suppose two passengers end up with a reservation for the last seat on a train from San Francisco to Los Angeles. Two alternatives are proposed: a. Toss a coin b. Sell the ticket to the highest bidder Compare the two options from the …
  6. microeconomics

    suppose two passagers both end up with a reservation for the last seat on a train from san franciso to los angeles. two alternatives are proposed: a)toss a coin b)sell the ticket to the highest bidder. compare the two from the standpoint …
  7. Finite Math

    John has three coins in his pocket. One is fair, one has two heads, and the third is unbalanced, showing head 60% of the time. John grabs a coin at random and tosses it. Find the probability that: 1) The coin shows a head 2) The coin …
  8. Economics

    Opera CD buyers are located in New York and Los Angeles. At the current price for a CD, $25 in both New York and Los Angeles, aggregate demand for Opera CD is 10,000 units (i.e. the sum of the demand in New York and Los Angeles); and …
  9. math

    A plane leaves Chicago headed for Los Angeles at 520 mph. One hour later, a second plane leaves Los Angeles headed for Chicago at 620 mph. If the air route from Chicago to Los Angeles is 1800 miles, how long will it take (after the …
  10. MATHS (sets)

    A survey was made about two daily newspapers, LOS ANGELES TIMES and THE NEW YORK TIMES, 105 people bought Los Angeles Times, 25 did not buy Los Angeles Times, 95 did not buy New York Times, while 83 bought Los Angeles times but not …

More Similar Questions