Assume that you receive $18 worth of pleasure from the first hole of golf played, and...
Assume that you receive $18 worth of pleasure from the first hole of golf played, and your additional pleasure from subsequent holes drops $1 for each hole played. If the flat entry fee is $10 and the cost per hole played is $0.1, how many holes of golf will you play? Explain using the graph.
Homework Answers
Pleasure=19-Q
price=19-Q
if the flat entry is 10, then price=MC
thus when cost per hole played=0.1 then
Q=18.9 units consumed.
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