Refer to the table below. If Gorgeous Sands Resort produces the profit-maximizing number of resorts and charges the profit-maximizing price, what is their total profit?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $525,000
B) $285,700
C) $487,500
D) $300,000
C) $487,500
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It is reasonable to assume that in a developed economy technological shocks occur ________ across industries, which ________ the RBC theory of business cycles
A) randomly, opposes B) randomly, supports C) uniformly, opposes D) uniformly, supports
Which of the following statements is correct?
a. In the new classical view, the money wage is assumed to adjust quickly to clear the labor market whereas in the Keynesian view, the money wage is sticky in a downward direction. b. In the new classical view, the money wage is sticky in a downward direction whereas the money wage is assumed to adjust quickly to clear the labor market in the Keynesian view. c. In both the new classical and the Keynesian views, the money wage is assumed to adjust quickly to clear the labor market. d. In both the new classical and the Keynesian views, the money wage is sticky in a downward direction.