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The Inn occasionally hires Maria Sostenuto, a local pianist, to entertain the guests during the evening while they chat by the fireplace in the Grand
The Inn occasionally hires Maria Sostenuto, a local pianist, to entertain the guests during the evening while they chat by the fireplace in the Grand Room. Maria charges $ per apprearance plus $ per hour.
If Maria plays for three hours, what would be:
the total cost to the Inn?
the average cost per hour?
If the Inn manager wants Maria to stay for a fourth hour, what would be:
the cost of the fourth hour the marginal cost
the total cost to the Inn?
the average cost per hour?
Explain why the average cost is an unimportant calculation in this situation.
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