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In 2019, a ski resort increased the prices it charged for one-day ski passes and season passes. If someone buys a season pass, he can
In 2019, a ski resort increased the prices it charged for one-day ski passes and season passes. If someone buys a season pass, he can ski as many days as he wishes. The table below provides information on the prices and the number of passes sold in 2018 and 2019. , . Number of Passes , , Number of Passes Type of Pass Price In 2018 Sold in 2018 Price In 2019 Sold in 2019 One day $60 5,000 $80 4,000 Season $1,200 250 $1,400 200 Given the information in the table, we know that the revenue earned from selling day passes changed by $ revenue earned from selling season passes changed by $ ,and the From the answers to Part 1, we know that the demand for day passes is v , and the demand for season passes is , _ elastic inelastic unit elastic Although Goldman Sachs paid Heather $80,000.00 per year, she was not satised with her job. She had loved going white-water rafting and skiing with her family in Utah since she was a little girl. 50 last year, she decided to open her own business: Family Adventures. During the summer, she takes families on different white-water trips, and in the winter, she leads clients on skiing trips. To start her business, Heather borrowed $100,000 from a bank and used $80,000.00 of her savings. Her savings earned 10% interest. At the end of the year, she wanted to know whether her new business venture was worthwhile. The table below lists her total revenue and itemized costs for Family Adventures. Item Annual Dollar Value Total revenue $220,000.00 Employee wages $120,000.00 Rent on her business ofce $25,000.00 Payments on bank loan $10,000.00 Utility and gas expenses $5,000.00 Part 1 (1 point) 0 See Hint Family Adventures' accounting prot was $ 120000 Part 2 (1 point) 0 See Hint Family Adventures' economic prot was $ 31000 . (If the economic prot is less than zero, be sure to include the - sign.)
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