Colin's Demand for Golf at His Local Club Each Season

question 19

Multiple Choice

Colin's demand for golf at his local club each season is P = 50 - 2Q. If the golf course charges $26 dollars per round of golf, how much could it charge Colin in a membership fee before he would not play there?

• A)$1,250
• B)$144
• C)$288
• D)$312

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Definitions:

Cost of Goods Sold

Expenditures directly connected to the creation of a company's sold products, encompassing materials and labor expenses.

Inventory

Inventory encompasses all the goods and materials that a business holds for the purpose of resale or as part of its raw materials for production.

Average Sale Period

The average time it takes for a company to sell its inventory, often used as an indicator of inventory management efficiency and demand for products.

Cost of Goods Sold

The total cost of manufacturing and delivering a product or service to consumers.