Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
A privately owned summer camp for youngsters has the following data for a 12-week session.(a) Develop the mathematical relationships for total cost and total revenue. (b) What is the total number of campers that will allow the camp to just break even? (c) What is the profit or loss for the 12-week session if the camp operates at 80% capacity? (d) What are marginal and average costs per camper at 80% capacity? (e) Would it be ethical to charge campers different rates depending on their family’s socioeconomic status? Identify and describe two points pro and two points con for such a policy.
![$480 per week
$192,000 per session
Variable cost per camper $320 per week
Charge per camper
Fixed costs
Сарacity
200 campers](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f13498f-319b-4f9b-9cd1-fa495fe0d636%2Fc26545c2-a7ed-409d-9fcc-e1d97b59e921%2Fayqd13_processed.png&w=3840&q=75)
Transcribed Image Text:$480 per week
$192,000 per session
Variable cost per camper $320 per week
Charge per camper
Fixed costs
Сарacity
200 campers
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