Use the following to answer questions: Table: Myrtle Beach Golf $\begin{array}{l}
\hline \text {Maximum Willingness to Pay for One-Night Stay and One Round of Golf}\
\begin{array}{lcc}
& David & John \
\hline One-Night Stay & 50 & 110 \
Round of Golf & 80 & 35 \
\hline
\end{array}
\end{array}$
-(Table: Myrtle Beach Golf) Refer to the table. Assume the firm has zero costs. If the resort sets prices for lodging and golf individually, it will charge ________ for one night's stay and ________ for one round of golf.

Question

Use the following to answer questions: Table: Myrtle Beach Golf $\begin{array}{l}
\hline \text {Maximum Willingness to Pay for One-Night Stay and One Round of Golf}\
\begin{array}{lcc} 
& David & John \
\hline One-Night Stay & 50 & 110 \
Round of Golf & 80 & 35 \
\hline
\end{array}
\end{array}$
-(Table: Myrtle Beach Golf) Refer to the table. Assume the firm has zero costs. If the resort sets prices for lodging and golf individually, it will charge ________ for one night's stay and ________ for one round of golf.

Quizplus · Accepted Answer

The resort should charge the highest price that each customer is willing to pay for each service. For lodging, John is willing to pay $110, and for golf, David is willing to pay $80.

Use the Following to Answer Questions: Table: Myrtle Beach Golf