I. Hidden Valley Ski Resort Hidden Valley Ski Resort, located near St. Louis, eans money from a variety of ventures (including equipment rental, food services, etc.). This problem concerns only their ski-lift operation, which provides transportation to the top of the mountain. HIDDEN ALLEY Assume the following information about the company Currently, Hidden Valley sells daily lift-tickets, which allow unlimited rides up the mountain during a single day, for $40 per ticket. In order to manage its crowds, Hidden Valley limits the number of lift-tickets to 1,000 on any given day Currently, the variable cost of transporting one person up the mountain as many times as they wish is $2 per day. Most of this cost is the electricity cost to run the ski-lift. In addition, Hidder Valley incurs costs of $5,000 per day on any day on which the ski-lift is in operation (this cost is NOT incurred if the ski-lift is completely shut down). These costs include operator wages, and the power costs of running the ski-lift empty. Fixed costs of the ski-lift, incurred regardless of whether it is running or not, amount to $3,060,000 per year. Assume that a year has 360 days, but that the Hidden Valley ski-lift is only open for 90 of those days (i.e, on the other 270 days the ski-lift is shut down, and no lif-tickets are sold). Ignore taxes throughout the problem. 1. Under their current policy, what is Hidden Valley's breakeven point (in number of daily lif- tickets per day during the winter season)? (5 points) Hint: This is not feasible