For the rest of this question assume that instead of all golfers being identical,there are two types of golfers, “tragics” and “dilettantes”. There are fifty ofeach type and the demand of a tragic is given byxT (p) = 160  p10 ,while that of a dilettante is given byxD (p) = 80  p10 .Unfortunately for Drumpf, it is not possible to tell beforehand whether agolfer is of either type.(c) (5 points) Explain to Drumpf, what is the most it can set for its(fixed) membership fee if it wishes to attract both types of golfers.(d) (10 points) Explain to Drumpf how it can still have the same aggre-gate demand for rounds of golf but get more from the tragics if it o§ersdi§erent classes of memberships that entitles a golfer to play di§erentamounts of rounds of golf for the di§erent classes. [Hint: consider astandard membership that allows a golfer to play 80 rounds of golf,and a gold membership that at a higher price entitles the golfer toplay as many rounds as they wish. What is the most that a dilettanteis willing to pay for a standard (quantity limited) membership? Andgiven the fee for standard membership, what is the most that a tragicwould be willing to pay to be allowed to play an unlimited number ofrounds of golf?]2

Drumpf Country Club has the only golf course in Distopia. The (annual)demand to play a round of golf on its course is given byD (p) = 12000  10pwhere D (p) is the number of rounds demanded each year if Drumpf chargeda uniform price of p per round. The marginal cost of having someone playa round of golf is zero and the annual (fixed) cost of maintaining the golfcourse is 1000000.(a) (15 points) Determine the optimal uniform price for Drumpf tocharge for a round of golf. Compare the welfare of golfers and Drumpfin this situation compared to what would have been the case if the pricehad been set equal to the marginal cost (and the fixed cost had beencovered by a subsidy from the Distopian Government). What is thedeadweight loss that arises from Drumpf employing monopoly uniformpricing instead of having marginal-cost pricing

(5 points) Explain to Drumpf, what is the most it can set for its(Öxed) membership fee if it wishes to attract both types of golfers

Answer the questions below.(a) The 9 members of a fraternity have the following test scores:           118, 120, 122, 124, 127, 128, 129, 130, 185.Which measure should be used to summarize the data?MeanMedianMode(b) Hong has recorded his golf score for each round he's played this year.Which measure gives the score he shot the most often?MeanMedianMode(c) A bakery sells 9 types of sandwiches. Here are their calorie amounts:           551, 569, 578, 589, 591, 614, 617, 626, 627.Which measure should be used to summarize the data?MeanMedianMode

A coach is examining two basketball players’ free-throw percentages over the last few games. Bob made 34 out of 85 shots and Joe made 72 out of 125 shots. The coach wants to know if Bob is a 10% worse free-throw shooter than Joe. Which of the following would be the p-value of the corresponding test?Multiple Choice0.27280.13640.45440.4322

he two broad types of costs of financial distress are Blank______ costs.Multiple choice question.direct and indirectpaid and unpaidimplied and inferredpotential and realized