Robin owns a horse stable and gives riding lessons for children at Pony Camp. His business operates in a competitive industry. Robin gives riding lessons to 20 children per month. His monthly total revenue is $4,000. The marginal cost of the 20th child $250. In order to maximize profits, Robin should give riding lessons to more than 20 children per month. give riding lessons to fewer than 20 children per month. continue to give riding lessons to 20 children per month. We do not have enough information to answer the question.

Robin owns a horse stable and gives riding lessons for children at Pony Camp. His business operates in a competitive industry. Robin gives riding lessons to 20 children per month. His monthly total revenue is $4,000. The marginal cost of the 20th child $250. In order to maximize profits, Robin should give riding lessons to more than 20 children per month. give riding lessons to fewer than 20 children per month. continue to give riding lessons to 20 children per month. We do not have enough information to answer the question.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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