Universals supply curve
Universal’s variable cost to rent a car is $15. Assume the fleet size is fixed at 21,666. How many cars would you be willing to rent at a price of $10? $20? $50? Explain your thinking behind these answers. Note: Answer does not depend on Scenario.
Use the above answers to describe Universal’s supply curve—that is, what is the quantity supplied at various prices? Graph the supply curve, showing numbers for P and Q. Show enough points to completely define the supply curve. Note: Answer does not depend on Scenario