Table 16-1
the Table Below Shows the Total Demand for Viewing

question 77

Multiple Choice

Table 16-1
The table below shows the total demand for viewing a rare penguin species at a local reserve.Ecotour companies have to build discreet viewing hides for tourists to view the penguins.Each ecotour company has to pay a fixed fee of $5000 for the right to build on the reserve.Assume that hides can be supplied to tourists at zero marginal cost.Tickets are sold to tourists to use the viewing hides. $\begin{array}{|c|c|}\hline \text { Quantity (Visits) } & \text { Price(\$ ticket) } \\\hline 0 & 48 \\\hline 2000 & 36 \\\hline 4000 & 24 \\\hline 6000 & 12 \\\hline 8000 & 8 \\\hline 10000 & 4 \\\hline 12000 & 0 \\\hline\end{array}$ $\begin{array}{|c|c|c|}\hline \text { Quantity (Visits) } & \text { Price(\$ ticket) } & \text { Revenue } \\\hline 0 & 12 & 0 \\\hline 1000 & 10 & 10 \mathrm{k} \\\hline 2000 & 8 & 16 \mathrm{k} \\\hline 3000 & 6 & 18 \mathrm{k} \\\hline 4000 & 4 & 16 \mathrm{k} \\\hline 5000 & 2 & 10 \mathrm{k} \\\hline 6000 & 0 & 0 \\\hline\end{array}$ Any firm can change tickets by steps of 500 only.Any 500 step of quantity is assumed to be sold at the midpoint of the two prices (eg.3500 tickets would be sold for $5)
-Refer to Table 16-1.If there is only one ecotourist company in this market, what ticket price would it charge for its hides to maximise its profit?

• A)$2
• B)$4
• C)$6
• D)$8

Distinguish between laboratory and field research, understanding their respective advantages and disadvantages.

Comprehend the concept and objectives of descriptive research and understand its applicability.

Understand the components and characteristics of optimal experiences and flow states.

Recognize the foundational concepts and principles of the humanistic approach to personality, including Maslow's hierarchy of needs and Rogers' views on self-concept.

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Definitions:

Liabilities and Net Worth

The total of all debts and obligations owed by an entity minus its total assets, portraying the entity's financial health and capital.

Efficient Market Hypothesis

The theory that all available information is already reflected in asset prices, thereby making it impossible to consistently achieve higher returns.

Passive Portfolio Management

An investment strategy that seeks to replicate the performance of a market index, minimizing buying and selling actions.

Combined Liabilities

The total amount of obligations or debts that a company or an entity owes to others, consolidated into a single figure.