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3 point As the oldest of the Seven Wonders of the Ancient World, the Great Pyramids of Giza in Egypt, is a huge tourist attraction.

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3 point As the oldest of the Seven Wonders of the Ancient World, the Great Pyramids of Giza in Egypt, is a huge tourist attraction. The Egyptian Government decides to grant one person, called Rajmund, exclusive access to the pyramids so he can conduct tours. Each tour costs him $108 to conduct (le: his marginal cost is constant at $108/tour). Below is a table of potential prices he could charge and the corresponding quantities. Price Quantity ($/tour) (tours) 200 2 180 4 162 6 144 9 130 12 122 14 Although Rajmund can exert monopoly power, he decides he will set a price of $130 per tour (without consulting any economic concepts). Answer the following questions: a. What is Rajmund's marginal revenue when the price is $130 per tour? Answer to the nearest whole number (with no decimal places). $ /tour. - b. At $130 per tour, should Rajmund decrease or increase the number of tours to maximise profit? Type D for Decrease or I for Increase. c. What price per tour should Rajmund be charging in order to maximise profit? Answer to the nearest number (with no decimal places). $ /tour

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