Scenario 15-11 Vincent Operates a Scenic Tour Business in Boston. He Has

question 247

Short Answer

Scenario 15-11
Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours. His total cost of operating one tour is fixed at $450. Vincent's cost is not reduced if he runs a tour with a partially full bus. While his cost is the same for all tours, Vincent charges each passenger his/her willingness to pay: adults $18 per trip, children $10 per trip, and senior citizens $12 per trip. At those rates, on a typical day Vincent's demand is:
Assume that Vincent's customers are always available for the tour; therefore, he can fill his bus for each tour as long as there is sufficient total demand for the day.
-Refer to Scenario 15-11. What is Vincent's profit on a typical day?

---

Definitions:

Holophrase

A single word used to express complex meanings.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Overregularization

The process in language acquisition where children apply standard grammatical rules even to cases where they don't apply.

Thinking

Paying attention to information, mentally representing it, reasoning about it, and making decisions about it.