Big Waves is a large water park. Suppose the individual demand for entrance into Big Waves is Qd = 50 - (2 × P) and each consumer has the same demand. Big Waves has a constant marginal cost of $5 per consumer. If Big Waves charges a single entry price to each consumer, what is the profit-maximizing price per consumer?
A) $25 B) $15 C) $20 D) $10
B) $15
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Total fixed cost divided by the level of output yields
a. average variable cost per unit b. average fixed costs per unit c. marginal cost per unit d. average total cost per unit e. marginal productivity per unit of fixed resource
An American citizen works for a U.S.-owned architectural firm located in Mexico. This architect will contribute toward:
A. U.S. GDP since he's a U.S. citizen. B. U.S. GDP since he's working for a U.S. firm. C. Mexico's GDP since he's working in Mexico. D. both Mexico's and U.S. GDP.
The federal government pays for what percentage of research and development?
a. 0.91% b. 60.2% c. 32% d. 3.6%
The __________ believe that the supply of money should be increased at a constant rate each year.
Fill in the blank(s) with the appropriate word(s).