In many cities, discount clubs are popular. For a fixed annual fee (paid in advance) one can purchase goods at 90% of their listed price (in other words, 10% off the list price); otherwise, one pays the list price. Suppose that the annual fee is $300 and the interest rate on your savings account is 5%. Finally, assume discount club's list prices are the same as any other store, and you plan to spend $4000 over the coming year at this store. (Hint: the interest represents an opportunity cost of purchasing a membership). benefit The of not is buying a membership I dollars and the cost of not buying a membership is dollars. Please record your answer without a dollar sign or a comma.

In many cities, discount clubs are popular. For a fixed annual fee (paid in advance) one can purchase goods at 90% of their listed price (in other words, 10% off the list price); otherwise, one pays the list price. Suppose that the annual fee is $300 and the interest rate on your savings account is 5%. Finally, assume discount club's list prices are the same as any other store, and you plan to spend $4000 over the coming year at this store. (Hint: the interest represents an opportunity cost of purchasing a membership). benefit The of not is buying a membership I dollars and the cost of not buying a membership is dollars. Please record your answer without a dollar sign or a comma.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter25: Monopoly

Section: Chapter Questions

Problem 13E

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