Suppose the cost of providing a day cruise to the Bahamas on a 2000-passenger ship is $130,000;
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Question:
Suppose the cost of providing a day cruise to the Bahamas on a 2000-passenger ship is $130,000; which means that the average cost of each seat is $65. Suppose that just minutes before departure a new passenger is willing to pay $50 for a seat (assume the ship is not full already). Should the cruise line sell the seat for $50? Explain.
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