Chapter 1.
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Question 16
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You must read each slide, and complete any questions on the slide, in sequence.
Question
A. At your local family fun center, miniature golf is $12 per person for unlimited rounds in a day, while each go-kart session is $8.
Given the information above, fill out the table below.
| Rounds of miniature golf | Total cost to play miniature golf |
| 0 rounds | $1Wh3cvJ2xF4= |
| 1 round | $DDH6Tw1RFEk= |
| 2 rounds | $DDH6Tw1RFEk= |
| 3 rounds | $DDH6Tw1RFEk= |
Correct! If you do not play miniature golf, you do not have to pay, therefore the total cost for you to play miniature golf is 0. Once you pay the $12, you can play an unlimited number of rounds of miniature golf. This is why the total cost to play any number of rounds of miniature golf is $12.
Incorrect. If you do not play miniature golf, you do not have to pay, therefore the total cost for you to play miniature golf is 0. The question states that once you pay the fixed cost of $12, you can play an unlimited number of rounds of miniature golf. This is why the total cost of miniature golf for the first round and every other round is the fixed cost of $12.
Question
B. At your local family fun center, miniature golf is $12 per person for unlimited rounds in a day, while each go-kart session is $8.
Given the information above, fill out the table below.
| Go-kart sessions | Total cost to ride go-karts |
| 0 sessions | $1Wh3cvJ2xF4= |
| 1 session | $L6bSXEGJIC8= |
| 2 sessions | $zhw5AiG32jY= |
| 3 sessions | $7dfNq0tWt7c= |
Correct! If you do not ride the go-karts, you do not have to pay, therefore the total cost for you is 0. Each go-kart session costs $8. To calculate the total cost of go-kart sessions, multiply $8 by the number of go-kart sessions.
Incorrect. If you do not ride the go-karts, you do not have to pay, therefore the total cost for you is 0. Each go-kart session costs $8. To calculate the total cost of go-kart sessions, multiply $8 by the number of go kart sessions. For example, the cost for 2 go-kart sessions is $8 × 2 = $16.
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Question 1.1
whYfkpTtHUfqKZLsjXuAHmbuL0NzIdQ7RosERRti1/E/VbkoUCe+7zax3NxdVTYvg8pmvNKhAI5MPi0F3GLZgC6fAqsMmRgr9ynPbUN33wVkCJVGiXsDaAvmMpzQ58nZVbpgT/MQBxIkb4W8fY5n20dMjDBynCR6rBVt6+uQvpCe6K/TJ4HlN9OXYPix4x4baja6p89i4kDz46JrRkyRqxGAgAv7ttyJtZDbiUtJvncPxFkGkSUkuRMz+lv+A06HAFg2nQxlCW6cUMk9ydFgv8/L2RCqWsI9sJ31k1QoC+dK0FuOyk4WlRQZ8nM=Correct! All of the answers above are the same as the term margin or marginal.
Incorrect! While this answer is the same as marginal, it is not the only answer.
Question
D. At your local family fun center, miniature golf is $12 per person for an unlimited number of rounds in a day, while each go-kart session is $8.
The total cost of playing 2 rounds of miniature golf is $j/pMivnfBklIiAe+nWAbqDXy+DY= and the total cost of playing 3 rounds of miniature golf is $j/pMivnfBklIiAe+nWAbqDXy+DY=. The marginal cost for the third round of golf is $kK+qU2aHQayN5BW/nGWD0OeU2nY=.
Correct! Since after paying $12 you can play an unlimited number of rounds of miniature golf, the total cost of playing 2 rounds is the same as playing three rounds. Therefore, the marginal cost to play a third round is $0.
Incorrect. Remember, the marginal cost is just the additional cost. Since after paying $12 you can play an unlimited number of rounds of miniature golf, the total cost to play 2 rounds is the same as the cost to play three rounds. Therefore, the marginal cost to play the third round is $0.
Question
Correct! The total cost for 2 go-kart sessions is $8 × 2 = $16. The total cost for 3 go-kart sessions is $8 × 3 = $24. The marginal cost is the additional cost to ride a go-kart one more time. Thus, the marginal cost for the third session can be calculated by subtracting the total cost for three sessions by the total cost for two sessions, $24 – $16 = $8.
Incorrect. The total cost for 2 go-kart sessions is $8 × 2 = $16. The total cost for 3 go-kart sessions is $8 × 3 = $24. The marginal cost is the additional cost to ride a go-kart one more time. Thus, the marginal cost for the third session can be calculated by subtracting the total cost of three sessions by the total cost for sessions, $24 – $16 = $8.