Suppose That 3,500 People Are Interested in Attending ElvisLand

question 3

Multiple Choice

Suppose that 3,500 people are interested in attending ElvisLand. Once a person arrives at ElvisLand, his or her demand for rides is given by x = max{ 2 - p, 0} , where p is the price per ride. There is a constant marginal cost of $1 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) $1 per ride and $2 for admission
• B) $0 per ride and $1 for admission
• C) $1 per ride and $.50 for admission
• D) $0 per ride and $1.50 for admission
• E) $2 per ride and $2 for admission

Understand the importance of evaluation and measurement in the effectiveness of training programs.

Understand the steps in behavior modeling and its application to training scenarios.

Recognize effective strategies to enhance training transfer to the workplace.

Identify the most common and effective training methods for different employee groups.

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Definitions:

Differentiation Focus

A strategy where a company targets a specific market segment with a unique product or service offering to stand out from competitors.

Market Segments

Separation of a market into unique segments of consumers with diverse needs, traits, or actions who may need distinct products or marketing strategies.

Blue Ocean Strategy

A business strategy that encourages companies to create new demand in an uncontested market space or "Blue Ocean" rather than competing in saturated markets.

Differentiation

A marketing strategy that involves distinguishing a product or service from competitors to make it more attractive to a particular target market.