Big Pools Is Large Swimming Complex

question 17

Multiple Choice

Big Pools is large swimming complex. Suppose adults have a demand for entrance into Big Pools that is less than half of the teenagers demand for entrance and there are an equal number of adults and teenagers. If Big Pools practices two- part pricing, to earn greater profit, Big Pools ______adjust the membership fee to include ______.

• A)should not; teenagers
• B)should; all consumers
• C)should not; adults
• D)should; adults

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Definitions:

Resource Market

The marketplace where resources or inputs (such as labor, raw materials, and capital) are bought and sold for the purpose of producing goods and services.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, typically labor.

Marginal Resource Cost

The added expenditure for making one more unit of a product or service.

Profit-Maximizing

The process or strategy undertaken by a firm to achieve the highest possible profit from its operations, considering factors like pricing, production, and cost management.