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Ganezh [65]
2 years ago
8

Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours.

His total cost of operating one tour is fixed at $450. Vincent’s cost is not reduced if he runs a tour with a partially full bus. While his cost is the same for all tours, Vincent uses a pricing practice called price discrimination and charges each passenger his/her willingness to pay: adults $18 per trip, children $10 per trip, and senior citizens $12 per trip. At those rates, on a typical day Vincent’s demand is:
Passenger Type

Willingness to Pay

Demand per day

Adults

$18

70

Children

$10

25

Senior Citizens

$12

55

Assume that Vincent’s customers are always available for the tour; therefore, he can fill his bus for each tour as long as there is sufficient total demand for the day.
What is Vincent’s cost of serving all passengers demanding a tour on a typical day?
What is Vincent’s profit on a typical day?
One of Vincent’s friends tells him he would be more profitable if he charged a single price of $18. Assuming no changes in consumer demand, what would Vincent’s profit be if he charged every customer $18? (3 points)
Business
1 answer:
4vir4ik [10]2 years ago
4 0

Answer:

lmk when you get sumtn bro

Explanation:

i need the answer too

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