The marginal benefit to Lesley of staycations during the year at a hotel are given by the ollowing schedule: Number of Weekend Staycations 12345 6 Marginal Benefit $550 $460 $390 $250 $200 $150 If the marginal cost of a staycation at the hotel is constant and equal to $360, how many weekends at the hotel is Lesley likely to enjoy? If Lesley stays for 5 weekends, what is the net benefit/(cost)?
The marginal benefit to Lesley of staycations during the year at a hotel are given by the ollowing schedule: Number of Weekend Staycations 12345 6 Marginal Benefit $550 $460 $390 $250 $200 $150 If the marginal cost of a staycation at the hotel is constant and equal to $360, how many weekends at the hotel is Lesley likely to enjoy? If Lesley stays for 5 weekends, what is the net benefit/(cost)?
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter20: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 2CQ
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Question
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The marginal benefit to Lesley of staycations during the year at a hotel are given by the
ollowing schedule:
Number of Weekend Staycations
1
2
3
4
5
Marginal Benefit
$550
$460
$390
$250
$200
$150
If the marginal cost of a staycation at the hotel is constant and equal to $360, how many weekends at
the hotel is Lesley likely to enjoy?
If Lesley stays for 5 weekends, what is the net benefit/(cost)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fce7c9b1f-5686-44f6-90c2-61108be9d6b3%2Fc8755121-be97-428f-b43b-8f86a830d357%2Fzu76w5q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:●
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The marginal benefit to Lesley of staycations during the year at a hotel are given by the
ollowing schedule:
Number of Weekend Staycations
1
2
3
4
5
Marginal Benefit
$550
$460
$390
$250
$200
$150
If the marginal cost of a staycation at the hotel is constant and equal to $360, how many weekends at
the hotel is Lesley likely to enjoy?
If Lesley stays for 5 weekends, what is the net benefit/(cost)?
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