Campus Bookstore Is the Only Textbook Supplier in the Town,a

question 86

Multiple Choice

Campus Bookstore is the only textbook supplier in the town,a profit-maximizing business.The table below represents the reservation prices for the eight students enrolled in the class for which this book is required. $$\begin{array} { c c } \text { Customer } & \begin{array} { c } \text { Reservation Price } \\\text { (\$/book) }\end{array} \\\mathrm { Q } & 60 \\\mathrm { R } & 54 \\\mathrm {~S} & 48 \\\mathrm {~T} & 42 \\\mathrm { U } & 36 \\\mathrm {~V} & 30 \\\mathrm {~W} & 24 \\\mathrm { X } & 18\end{array}$$
Assume that the marginal and average total cost for each book is $12.
If the bookstore can charge two different prices for this book,the economic profit for the bookstore is ______.

• A) greater than $120
• B) less than $120
• C) exactly $120
• D) exactly $48

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Definitions:

Bowling Scores

The numerical representation of a player's performance in the game of bowling, calculated by the number of pins knocked down.

Mean

A statistical measure representing the average of a set of numbers, calculated by dividing the sum of all values by the count of values.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values.

Median

Median is the middle value in a dataset when the values are arranged in ascending or descending order.