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Happyland is the only theme park in the nation

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Reference no: EM131825779

Happyland is the only theme park in the nation. The table sets out the demand schedule for the theme park passes and the cost schedule for running the theme park. Calculate Happyland's profit max price, output and economic profit if it charges a single price for all passes.

Price $/pass Quantity#passes/day Total cost $/day

20 0 1,000

18 100 2,000

16 200 3,000

14 300 4,000

12 400 5,000

10 500 6,000

8 600 7,000

6 700 8,000

4 800 9,000

Happyland's profit max ouput is ___passes a day

Happyland's profit max price is ____a pass

I am not sure where to start. Our economics class was conceled today due to snow and this is our homework that is due tonight

Reference no: EM131825779

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