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Softa [21]
3 years ago
6

Joe has just moved to a small town with only one golf​ course, the Northlands Golf Club. His inverse demand function is pequals

160minus2 ​q, where q is the number of rounds of golf that he plays per year. The manager of the Northlands Club negotiates separately with each person who joins the club and can therefore charge individual prices. This manager has a good idea of what​ Joe's demand curve is and offers Joe a special​ deal, where Joe pays an annual membership fee and can play as many rounds as he wants at ​$20 ​, which is the marginal cost his round imposes on the Club. What membership fee would maximize profit for the​ Club? The manager could have charged Joe a single price per round. How much extra profit does the Club earn by using​ two-part pricing? The​ profit-maximizing membership fee​ (F) is ​$nothing . ​(Enter your response as a whole​ number.)
Business
1 answer:
Crazy boy [7]3 years ago
6 0

Answer:

Club membership fee of $60 would maximize profit.

If the club charges tow part pricing the maximum revenue can be $3500.

Explanation:

Joe has entered into a monopoly because he is owner of single golf course in the Northlands.

Demand function for Joe's golf course is:

P = 160 - 2q

P = $20 , q = 50

160 - 2 (50) = 60

Consumer surplus = 0.5 * equilibrium quantity

Consumer Surplus for Joe is ; 0.5 * 50 (160 - 20) = $3500  

If MR = MC then demand function will become :

160 - 4q

If q = 25 then

160 - 4 * 25 = 60

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Tatiana [17]

Answer:

Quantity discounts are available

Explanation:

The Economic Order Quantity model is a model that helps define an order quantity of inventory with minimum costs. It is a model that serves as a base for order calculations because it bases itself on calculating without any variables where everything is constant. With that in mind, everything will be the same. The demand will be the same. Delivery Time will be the same. And, to answer the question, the unit price will also be the same no matter the volume ordered aka there is no discount available.  

3 0
3 years ago
Contrary to recommendations by consumer credit counselors, most consumers don’t keep written track of their purchases, relying i
Viktor [21]

Answer:

mental budgeting

Explanation:

This is an example of mental budgeting because mental budget reduce the resistance that consumers feel when buying more than one item.

If you have a wide range of products, especially the spectrum of "serious", from need to fun then you can promote purchases in the mix  categories.

so answer is mental budgeting

5 0
3 years ago
Which statement is true of all transactions?
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I’m pretty sure it’s D
5 0
3 years ago
Read 2 more answers
Aggregate supply (as) denotes, while holding the price of inputs fixed, the ________ that firms choose to produce and ________.
Sedbober [7]

Aggregate supply (as) denotes, while holding the price of inputs fixed, the <u>price level of output</u> that firms choose to produce and <u>GDP.</u>

<h3>What is aggregate supply?</h3>

Aggregate supply is when goods and service produced or manufacture are made available to buyers  or can be defined as the amount of goods produce and supply to the market at particular period of time.

Aggregate supply can tend to increase in a situation were the price of goods and services decrease or when the price of product fall.

Therefore, Aggregate supply donate, while holding the price of inputs fixed, the price level of output that firms choose to produce and Gross domestic product (GDP).

Learn more about Aggregate supply here:brainly.com/question/11889136

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6 0
1 year ago
Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases
madam [21]

Answer:

$1,497.77

Explanation:

From the above information, the following can be deduced;

42 units at $109 per unit

74 units at $82 per unit

170 units at $70

Total units = 42 + 74 + 170 = 286 units

Units left at year end = 19 units

The next step is to compute the total cost in arriving at the ending inventory, using average cost method.

Total cost = [(42 × $109) + (74 × $82) + (170 × $70)]

= $4,578 + $6,068 + $11,900

= $22,546

Per unit cost

= $22,546 ÷ 286 unit

= $78.83 per unit

Therefore, ending inventory

= Per unit cost × Units held at the end of the year

= $78.83 × 19 units

= $1,497.77

7 0
3 years ago
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