The Accompanying Table Summarizes Information About Each Potential Passenger's Age

question 108

Multiple Choice

The accompanying table summarizes information about each potential passenger's age and his or her maximum willingness to pay for a solo skydiving experience from SkyMasters, Inc. The aircraft has room for eight people, including the pilot and skydiving instructor. The marginal cost of adding each additional passenger is $100. SkyMasters, Inc. holds significant market power for its region. Use this information to answer the questions. $\begin{array}{lll}&\text { Maximum }\\\text { Customer }&\text { Willingness to Pay }&\text { Age }\\\text { Harold } & \$ 400 & 50 \\\text { Jay } & \$ 300 & 45 \\\text { Leslie } & \$ 350 & 42 \\\text { Kristen } & \$ 250 & 21 \\\text { Ivana } & \$ 200 & 20 \\\text { Matt } & \$ 150 & 18\end{array}$
-SkyMasters, Inc. has decided to charge two different prices, a high price and low price, based on age. Calculate the increase in total revenue the company gains from its practice of price discrimination versus what it would earn if it charged a single price to all customers.

• A) $1,300
• B) $1,200
• C) $650
• D) $300
• E) $100

Gain knowledge of the vestibular and kinesthetic senses and their roles in balance and movement perception.

Understand the basics of gustation and olfaction and their biological foundations.

Understand the relationship between sound frequency, amplitude, and the perception of musical notes.

Grasp the function of cells in the olfactory bulb and the pathway of olfactory signals to the brain.

---

Definitions:

Plains Droughts

Long periods of abnormally low rainfall, especially prevalent in the Great Plains of the United States, leading to severe water shortages and agricultural difficulties.

Crop Output

Crop output refers to the total quantity of agricultural products harvested in a given period, influencing food supply and economic health.

Depopulation

The reduction in the number of people in a given area due to factors like disease, war, or emigration.

Dogie

A term used in American West to refer to an orphaned calf, especially one that is malnourished or neglected.