Your Pricing Structure for Canoe Rentals Encourages Group Rentals $C = N ( 66 - N )$

question 65

Multiple Choice

Your pricing structure for canoe rentals encourages group rentals. The total price, in dollars, you charge for renting canoes is $C = N ( 66 - N )$ What is the maximum charge for a group canoe rental?

• A) $1089
• B) $66
• C) $1092
• D) $33

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Definitions:

Price Skimming

A pricing strategy where a firm charges a high initial price for a product, then gradually lowers the price over time.

Product Development

The creation of new products or significant improvements on existing ones, from concept generation to market introduction.