Suppose Island Bikes, a Profit-Maximizing Firm, Is the Only Bike

question 6

Multiple Choice

Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed in the table.  
$$\begin{array} { | c | c | } \hline \text { Custamer } & \begin{array} { c } \text { Reservetion Price } \\\text { (\$ /Rental) }\end{array} \\\hline \mathrm { A } & 22 \\\hline \mathrm { B } & 16 \\\hline \mathrm { C } & 12 \\\hline \mathrm { D } & \mathrm { 8 } \\\hline \mathrm { E } & 6 \\\hline \mathrm { F } & 4 \\\hline\end{array}$$ If Island Bikes charges a single price to all of its customers, then what will be its daily economic profit?

• A)$26
• B)$27
• C)$33
• D)$36

Recognize and understand the implications of key federal acts and conventions on criminal liability, such as the CAN-SPAM Act and Sarbanes-Oxley Act.

Discuss mental fault concepts in criminal law, including subjective and objective fault, and liability without fault.

Describe the procedural stages in a criminal trial, from arraignment to indictment.

Identify and explain the elements of various crimes, including burglary, robbery, and false pretenses.

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Definitions:

Signal Detection

A theory and method for quantifying the ability to discern between information-bearing patterns and random patterns that distract from the information.

Naysayers

Individuals who are often negative or skeptical about ideas and refuse to believe that something might be successful or positive.

Yea-Sayers

Individuals who habitually agree with or support a particular idea, person, or group.

Hits

In the context of memory and recognition, correct identifications of previously seen or experienced stimuli.