Use the Following to Answer Questions: Table: Myrtle Beach Golf

question 203

Multiple Choice

Use the following to answer questions: Table: Myrtle Beach Golf $\begin{array}{l}\hline \text {Maximum Willingness to Pay for One-Night Stay and One Round of Golf}\\\begin{array}{lcc} & David & John \\\hline One-Night Stay & 50 & 110 \\Round of Golf & 80 & 35 \\\hline\end{array}\end{array}$
-(Table: Myrtle Beach Golf) Refer to the table. Assume that marginal costs of production are zero. If the resort bundles a one-night stay with a round of golf, how much profit will it make on David and John?

• A) $260
• B) $380
• C) $290
• D) $275

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Definitions:

Better Products

This denotes products that are considered superior in quality or performance compared to others.

Dictator Game

An experimental game in economics and psychology where one participant, the "dictator," determines how to split an endowment between themselves and another participant.

Behavioral Economists

Researchers dedicated to understanding how psychological, cognitive, emotional, cultural, and social influences shape the economic choices made by individuals and institutions.

Evenly Split

A division or distribution of something into equal or nearly equal parts.