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You are the manager of a racquet club and you want to determine the best price for local rentals. Assume that the marginal cost of providing lockers is zero and the monthly demand for lockers is estimated to be best described as fitting the equation O = 100 - 2P where P is the monthly rental price and Q is the number of lockers rented per month.

a.What price would you charge?
b.How many lockers would you rent monthly at this price?
c.describe why you chose this price?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946887

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