The accompanying table summarizes information about each potential passenger's age and his or her maximum willingness to pay for a solo skydiving experience from SkyMasters, Inc. The aircraft has room for eight people, including the pilot and skydiving instructor. The marginal cost of adding each additional passenger is $100. SkyMasters, Inc. holds significant market power for its region. Use this information to answer the questions. $\begin{array}{lll}&\text { Maximum }\
\text { Customer }&\text { Willingness to Pay }&\text { Age }\
\text { Harold } & \$ 400 & 50 \
\text { Jay } & \$ 300 & 45 \
\text { Leslie } & \$ 350 & 42 \
\text { Kristen } & \$ 250 & 21 \
\text { Ivana } & \$ 200 & 20 \
\text { Matt } & \$ 150 & 18
\end{array}$
-SkyMasters, Inc. has decided to charge two different prices, a high price and a low price, based on age. Which age group would pay the higher price?

Question

The accompanying table summarizes information about each potential passenger's age and his or her maximum willingness to pay for a solo skydiving experience from SkyMasters, Inc. The aircraft has room for eight people, including the pilot and skydiving instructor. The marginal cost of adding each additional passenger is $100. SkyMasters, Inc. holds significant market power for its region. Use this information to answer the  questions. $\begin{array}{lll}&\text { Maximum }\
\text { Customer }&\text { Willingness to Pay }&\text { Age }\
\text { Harold } & \$ 400 & 50 \
\text { Jay } & \$ 300 & 45 \
\text { Leslie } & \$ 350 & 42 \
\text { Kristen } & \$ 250 & 21 \
\text { Ivana } & \$ 200 & 20 \
\text { Matt } & \$ 150 & 18
\end{array}$
-SkyMasters, Inc. has decided to charge two different prices, a high price and a low price, based on age. Which age group would pay the higher price?

Quizplus · Accepted Answer

The Answer of The accompanying table summarizes information about each potential passenger's age and his or her maximum willingness to pay for a solo skydiving experience from SkyMasters, Inc. The aircraft has room for eight people, including the pilot and skydiving instructor. The marginal cost of adding each additional passenger is $100. SkyMasters, Inc. holds significant market power for its region. Use this information to answer the  questions. $\begin{array}{lll}&\text { Maximum }\
\text { Customer }&\text { Willingness to Pay }&\text { Age }\
\text { Harold } & \$ 400 & 50 \
\text { Jay } & \$ 300 & 45 \
\text { Leslie } & \$ 350 & 42 \
\text { Kristen } & \$ 250 & 21 \
\text { Ivana } & \$ 200 & 20 \
\text { Matt } & \$ 150 & 18
\end{array}$
-SkyMasters, Inc. has decided to charge two different prices, a high price and a low price, based on age. Which age group would pay the higher price?

The Accompanying Table Summarizes Information About Each Potential Passenger's Age