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Problem: Each identical consumer has the following demand for golf, q = 100 - p, where q is the number of rounds of golf played per year and p is the price per round. The only golf course in an isolated town incurs a marginal cost of $10 per round of golf. It wishes to charge a membership fee and a fee per round of golf. What price will it set for each membership fee? Explain your answer and provide examples.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M91811916
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