Mr patel runs a motel in tampa fl the market is highly, Ask an Expert

Economics

Mr Patel runs a motel in Tampa, FL. The market is highly competitive since there are many hotels in the surrounding areas and the average room rent per night is $35. There are 30 rooms are Mr Patels motel and each room can be rented for 30 nights a month. That is each month Mr Patel can rent 900 nights total. Mr Patels monthly cost curve is:

TC = $10,000 + $10 x Q

What is Mr Patels Marginal cost? What is Mr Patels profit maximizing quantity? What is his maximum profit?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91522479

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