=+e.** Now suppose you decide to make all rides free (knowing that the most rides the consumer
Question:
=+e.** Now suppose you decide to make all rides free (knowing that the most rides the consumer can squeeze into a day is 25) and you simply charge an entrance fee to your park. How high an entrance fee will you now charge to your park? (Note: This part is not computationally difficult.
It is designated with ** only because you have to use information from the previous part.)
f.** How does your analysis change if the consumer’s tastes instead were given by u1x1
,x2 2 5 13 20.5 2x1 0.5 1 x2 0.5?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
Question Posted: