Suppose That 2,500 People Are Interested in Attending ElvisLand

question 9

Multiple Choice

Suppose that 2,500 people are interested in attending ElvisLand. Once a person arrives at ElvisLand, his or her demand for rides is given by x = max{ 3 - p, 0} , where p is the price per ride. There is a constant marginal cost of $2 for providing a ride at ElvisLand. ElvisLand charges a profit-maximizing two-part tariff, with one price for admission to ElvisLand and another price per ride for those who get in. How much should it charge per ride and how much for admission?

• A) $2 per ride and $3 for admission
• B) $0 per ride and $2.50 for admission
• C) $2 per ride and $.50 for admission
• D) $0 per ride and $1 for admission
• E) $3 per ride and $3 for admission

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Definitions:

Masculine and Feminine Side

Refers to the traditional qualities or attributes thought to be characteristic of men (masculine) and women (feminine), including behavioral, cultural, or psychological traits.

Agricultural Tribes

Indigenous groups whose economy and culture were heavily centered around farming and cultivation practices.

Sexual Division of Labor

The allocation of work tasks between genders, often based on societal or cultural norms regarding appropriate roles for men and women.