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 $10 000 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.
Any firm can change tickets by steps of 1000 only. Prices for missing quantities are the exact midpoint between two adjacent prices.
-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?
Definitions:
Members
Owners of a limited liability company.
Articles of Organization
Legal documents filed with a state government to officially start a limited liability company (LLC) and outline its structure and operation.
Joint Stock Company
A partnership agreement in which company members hold transferable shares while all the goods of the company are held in the names of the partners.
Limited Liability Company
An organizational model blending the direct taxation advantage of partnerships or sole proprietorships with the restricted liability characteristic of corporations.
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