What is the total benefit for the resident

Assignment Help Business Economics
Reference no: EM13837329

A small Indiana town has one resident who uses and enjoys the local bowling alley. The marginal benefit of bowling for that resident is given by MB=50-7Q. The manager at the bowling alley has set the price of a game at $20. What is the total benefit for the resident?

Reference no: EM13837329

Questions Cloud

What is autonomous consumption : What is autonomous consumption? Can you explain what autonomous consumption means and use it in an example?
Competitors lower production to limit supply-increase price : A firm suggests that they and their competitors (oligopoly) lower their production to limit supply and increase price. Thinking about the kind of game this is...would it be a Bertrand or Cournot; would it be finitely or infinitely repeated and would ..
Discuss how the dual-concern model : Discuss how the Dual-Concern Model and Big Five Personality Dimensions facilitate recognizing bargaining styles and how such styles impact behaviors and strategies in a negotiation.
Think about disposable income : The macroeconomic principles we will explore were developed by an English Economist back in the 1930s as a method for bringing Europe and the U.S. out of the Great Depression. If the economy is operating at a point less than full employment (as it is..
What is the total benefit for the resident : A small Indiana town has one resident who uses and enjoys the local bowling alley. The marginal benefit of bowling for that resident is given by MB=50-7Q. The manager at the bowling alley has set the price of a game at $20. What is the total benefit ..
Formula substituting values from the interest factor tables : Toro Company is expanding its El Paso plastic molding plant as it continues to transfer work from Juarez, Mexico contractors. The plant bought a $1.1 million precision injection molding machine to make plastic parts for Toro lawn mowers, trimmers, an..
Calculate the expected value of the gamble : Suppose Jasmine is invited to the following dice gamble: a fair die with 6 sides showing a different number from 1 to 6 will be cast. The number on the top side of the die will be the prize money to the player. She needs to pay $4 to enter the gamble..
Osha''s personal protectiveequipment standard : OSHA's Personal ProtectiveEquipment Standard requires employers to assess the workplace to determine ifhazards are present that necessitate the use of PPE. Based on the assessment,appropriate PPE must be selected and provided to affected employees.
Utility rate analyst at the local electricity utility : Laura has an undergraduate degree in economics and has been working as a utility rate analyst at the local electricity utility. If she continues on her present career path, the present value of her lifetime earnings is $250,000. Calculate the discoun..

Reviews

Write a Review

Business Economics Questions & Answers

  Castorian airline market there are only two firms

In the Castorian Airline market there are only two firms. Each firm is deciding whether to offer a frequent flyer program.

  Octor wishes to maximize her profit

If the doctor wishes to maximize her profit, elucidate how many nose operations she should perform each month.

  Major positive and negative impacts of big business

Discuss in your opinion what you feel were the major positive and negative impacts of Big Business on the U.S. economy.

  Difference between the optimal level or the amount generated

What is the difference between the optimal level of total consumption minus the amount of total consumption generated by the market

  Sketch the payoff matrix for this game

Sketch the payoff matrix for this game. Identify any possible Nash equilibria in pure strategies for this game."

  Most profoundly affect that business and why

Pick any public company and discuss which 2 or 3 macroeconomic indicators which would most profoundly affect that business and why.

  Is there a difference between the two communities

Which lawyer would you sooner choose if you were on trial for a serious crime in a urban vs. a rural society. Is there a difference between the two communities? If there is tell us why there might be a difference.

  What are the advantages and disadvantages of each regime

Should China set a fixed exchange rate regime with respect to the US dollar, or a floating exchange rate regime with respect to the US dollar? Why? What are the advantages and disadvantages of each regime? Discuss.

  Q1 research comes out that supports that drinking more

q1. research comes out that supports that drinking more green tea helps to keep you healthy. ceteris paribus what would

  Workers in different jobs

Outline any two reasons, why the marginal revenue product differs between workers in different jobs.

  Means-tested college aid-base college aid primarily

Means-tested college aid, base college aid primarily on

  Illustrate which of the subsiquent is true.

Suppose the demand for pizza is given by Q=40-2P and the supply of pizza is given Q=P-8. if the price of pizza is $19, Illustrate which of the subsiquent is true.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd