An Observer in a Lighthouse Is $62 \mathrm { ft }$

question 25

Multiple Choice

An observer in a lighthouse is $62 \mathrm { ft }$ above the surface of the water. The observer sees a ship and finds the angle of depression to be $0.1 ^ { \circ }$ . Estimate the distance of the ship from the base of the lighthouse.

• A) \(35,545\) ft
• B) \(35,480\) ft
• C) \(35,505\) ft
• D) \(35,570\) ft
• E) \(35,525\) ft

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Definitions:

Perfect Competition

A market structure where many companies sell products that are identical to each other and no single firm can influence the market price.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, not based on costs but on what the seller believes each customer can afford or is willing to pay.

Single-Price Monopoly

A market structure where a single seller sells a unique product in the market and does not charge different prices to different consumers for the same product.

Monopolist's Profits

The excess earnings a monopolist achieves by being the sole provider of a product or service, which allows for pricing above marginal cost.