that must be incurred to plan and take the trip. Which of these are transaction costs for the travel? (Select all that apply.)

10.27 only

3

Question 35 Suzanne drives to work each day. The best example of an internal cost is the congestion created by Suzanne's car being on the road. amount of pollution emitted by Suzanne's car. amount the government paid to build the road. amount of money Suzanne saves each day by avoiding the toll roads amount Suzanne pays to maintain her car.

The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Total Revenue 60 70 80 Price per Skater $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? O The revenue increases. O The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) = (d) Find the number of skaters that will maximize the revenue. skaters (e) Find the maximum revenue. $ (f) When the revenue is at the maximum possible, what price is paid per skater? $

PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 Demand 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Lakes's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Mountaineer (Dollars per night) 350 150 50 100 200 ? For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Lakes is charging $350 per room per night. If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Lakes rooms per night to rooms per night. Therefore, the income elasticity of demand is from , meaning that hotel rooms at the Lakes are If the price of an airline ticket from DSM to ACY were to increase by 50%, from $100 to $150 roundtrip, while all other demand factors remain at their initial values,…

PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…