Robin Owns a Horse Stables and Riding Academy and Gives

question 286

Multiple Choice

Robin owns a horse stables and riding academy and gives riding lessons for children at "pony camp." Her business operates in a competitive industry. Robin gives riding lessons to 20 children per month. Her monthly total revenue is $4,000. The marginal cost of pony camp is $100 per child. In order to maximize profits, Robin should

• A)give riding lessons to more than 20 children per month.
• B)give riding lessons to fewer than 20 children per month.
• C)continue to give riding lessons to 20 children per month.
• D)We do not have enough information to answer the question.

Understand the requirements for cognitive systems in the context of digital transformation.

Recognize the stages and levels of sophistication in supply chain analytics.

Understand the ranking of capital project types according to their risk levels.

Define and calculate the payback period of a project.

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Definitions:

Wage

The price paid for the use or services of labor per unit of time (per hour, per day, and so on).

Salary Workers

Individuals who receive a fixed regular payment, often monthly, from their employer, regardless of the number of hours worked.

Monopsonist

An economic situation where there is only one buyer in the market, giving the buyer substantial power over prices and terms with suppliers.