The Graph Shows the Number of Visitors V to a National

question 8

Multiple Choice

The graph shows the number of visitors V to a national park in hundreds of thousands during a one-year period,where represents January.Estimate the rate of change of V over the interval Round your answer to the nearest hundred thousand visitors per year. ​ ​

• A) 187.5 hundred thousand visitors per year
• B) 281.25 hundred thousand visitors per year
• C) 225 hundred thousand visitors per year
• D) 562.5 hundred thousand visitors per year
• E) 1125 hundred thousand visitors per year

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Definitions:

Marginal Cost

The cost escalation associated with the production of one more unit of a product or service.

Economic Loss

Occurs when total cost exceeds total revenue, not covering all explicit and implicit costs.

Economic Profit

The separation between whole income and all charges, factoring in both straightforward and subtle costs.

Excess Capacity

The situation where a firm is producing less than the maximum output due to lack of demand.