Business, 02.10.2019 02:20 mauricestepenson791
Suppose the cost of operating a 100 room hotel for a night is $10,000 and there are 5 empty rooms for tonight. if the marginal cost of operating one room for one night is $30 and a customer is willing to pay $60 for the night, the hotel manager should
a. rent the room because the marginal benefit exceeds the marginal cost.
b. rent the room because the marginal benefit exceeds the average cost.
c. not rent the room because the marginal benefit is less than the marginal cost.
d. not rent the room because the marginal benefit is less than the average cost.
Answers: 2
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Amonopolist’s inverse demand function is p = 150 – 3q. the company produces output at two facilities; the marginal cost of producing at facility 1 is mc1(q1) = 6q1, and the marginal cost of producing at facility 2 is mc2(q2) = 2q2.a. provide the equation for the monopolist’s marginal revenue function. (hint: recall that q1 + q2 = q.)mr(q) = 150 - 6 q1 - 3 q2b. determine the profit-maximizing level of output for each facility.output for facility 1: output for facility 2: c. determine the profit-maximizing price.$
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Suppose the cost of operating a 100 room hotel for a night is $10,000 and there are 5 empty rooms fo...
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