Demand Schedule for Ski Tickets

question 39

Multiple Choice

Demand Schedule for Ski Tickets
TABLE 4-2
-Refer to Table 4-2.Total expenditure for ski tickets reaches a maximum at a price/quantity demanded combination of

• A)$30/90.
• B)$60/600.
• C)$100/200.
• D)$20/1000.
• E)$80/400.

---

Definitions:

Fixed Cost

Expenses that do not change in total despite fluctuations in the volume of goods or services produced or sold.

Patent

A legal document granted by the government, giving an inventor exclusive rights to make, use, and sell an invention for a certain number of years.

Demand Function

A mathematical function that describes the quantity of a good that consumers are willing and able to purchase at various prices.

Subsidy

A financial contribution granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.