An amusement park charges an entrance fee of $35 per person plus $2.50 per ride. This is an example of

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An amusement park charges an entrance fee of $35 per person plus $2.50 per ride.  This is an example of

BlackTom AI · Accepted Answer

The question describes a pricing scheme where there is a fixed upfront charge of 35 dollars for each person, plus an additional charge of 2.50 dollars for each ride taken.

This structure combines a lump-sum entry fee (the fixed component) with a per-unit usage charge (the variable component). In economics and pricing, such a setup is known as a two-part tariff. The fixed fee covers access or membership, while the per-use fee captures the actual consumption.

To evaluate this, imagine breaking down pricing schemes: 
- A single price per unit without a fixed charge would be pure per-unit pricing, which does not include an entry fee. In this case, there is a separate entry cost, so it is not just per-unit pricing. 
- A two-part tariff, as described, is exactly what you get when there is a base fee plus charges for each unit of activity. The entrance fee acts as the fixed component, and the ride fee acts as the variable component. 
- Other schemes, like bundling all rides into one flat rate regardless of how many rides are taken, would be a different approach (all-you-can-ride or flat-rate bundling) and do not apply here since there is a separate per-ride charge.

Because the problem specifies both a fixed amount and an additional amount per unit of use, the described pricing fits the two-part tariff concept. If you had been given alternative choices such as 'single-unit pricing', 'block pricing', 'quantity discount pricing', or 'bundled pricing', you could contrast each by looking for the presence or absence of a fixed entry component and a per-unit usage component. The key distinction is the explicit fixed component in addition to the variable per-unit charge, which aligns with the two-part tariff idea.

ECON 4001.01 SP2025 (19496) Week 11 quiz

An amusement park charges an entrance fee of $35 per person plus $2.50 per ride. This is an example of

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