1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Language that outlines acceptable and unacceptable use of it resources and defines sanctions to be applied if a violation occurs
SashulF [63]

Language that outlines acceptable and unacceptable use of it resources and defines sanctions to be applied if a violation occurs is typically found in an employee code of conduct. Typically, when a person gets hired on at a new job, the new job will give them an employee code of conduct book that states what is and isn't allowed. The code will state what an employee does that will be deemed acceptable and what they can do to make sure they stay in the outlined rules.

3 0
3 years ago
What do you think are some of the risks and challenges associated with performing so many hypothesis tests? what would you do to
Aloiza [94]

The risks and challenges associated with performing so many hypothesis tests nearly all null hypotheses are false on a priori grounds.

A hypothesis is a supposition, an idea put forward for the purpose of discussion, that can be tested to see if it is true. Hypotheses are formed before the is implemented.

Hypotheses are usually written as if/then statements. B. If someone eats a lot of sugar, they will get cavities in their teeth. These statements identify a particular variable (in this case, eating a lot of sugar) and imply an outcome (in this case, the tooth develops cavities).

Hypotheses are used to define the relationship between two variables in an experiment. The purpose of a hypothesis is to find an answer to a question. Formalized hypotheses make us think about what kind of results we should be looking for in our experiments. The first variable is called the independent variable.

Learn more about Hypotheses brainly.com/question/11555274

#SPJ4

6 0
1 year ago
When demonstrating 2022 maxima’s confident cornering, what should you point out?
jarptica [38.1K]

Based on driving analysis when demonstrating 2022 maxima’s confident cornering, things to point out include "<u>How quickly Maxima responds to steering input."</u>

The other things to point out when demonstrating 2022 maxima’s confident cornering include the following:

  • How level the vehicle stays.

  • The minimal understeer when cornering.

Maxima 2022 is one of the latest automobiles vehicle models from Nissan automobile manufacturer.

The Maxima 2022 is designed to meet the latest and modern driving standards that provide ease of navigation.

Maxima 2022 is expected to cost around $37,240.

Hence, in this case, it is concluded that Maxima 2022 is an excellent vehicle to consider buying.

Learn more about vehicles here: brainly.com/question/21927146

3 0
2 years ago
why was slavery more successful than other labor systems in meeting the labor needs of the colonial america market economy
kogti [31]

Answer:

Cheap & effective

Explanation:

this source of labor was easily abusable and by having people you don't need to pay and spend barely anything on feeding them it makes it easier to build the USA. I don't agree with the USA being founded on this but other countries were doing this so the USA did it also.

8 0
3 years ago
balance sheet showed total assets of $60 million, total liabilities (including preferred stock) of $45 million, and 1,000,000 sh
Sati [7]

Answer:

The price per share should be $22.5

Explanation:

The price earnings multiple or P/E tells us how much price the investors are willing to pay for $1 earnings of the company.

We first need to calculate the earnings per share of the company.

Earnings per share = Net Income / Number of outstanding common shares

Earnings per share = 1500000 / 1000000  =  $1.5 per share

Using the P/E for the industry, the price per share of Flintstone should be,

P/E = Price per share / Earnings per share

15 = Price per share / 1.5

15 * 1.5 = Price per share

Price per Share = $22.5

6 0
3 years ago
Read 2 more answers
Other questions:
  • What is the top priority of dang udin soto, the street vendor?
    8·2 answers
  • Neil, an entrepreneur and inventor, developed new software to help retail stores manage their
    12·1 answer
  • The average cell phone bill is $78 with a standard deviation of $10. What is the minimum percentage of cell phone bills that wil
    9·1 answer
  • Gina and Celine want to start a business together in the women's apparel and accessories industry. While Gina thinks that they s
    11·1 answer
  • Straight Arrow unloaded two tankers worth of toxic waste at an important port in the country of Urithmea. A hundred workers work
    9·1 answer
  • 50. Regarding product mix, brand name is a part of A. place. B. price. C. product. D. promotion.
    7·1 answer
  • Assuming the wage-employment tradeoff exists, if labor in a particular geographic area is homogeneous and the unionized workers
    13·1 answer
  • The production strategy of a firm using a global strategy would likely entail A. A narrow selection of models and styles with ea
    10·1 answer
  • The European Union and the United States are trading partners. (a) If the current account balance is zero, will an increase in U
    12·1 answer
  • At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for $3,510,000. After the timber is cl
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!