Homework Answers
The maximum membership fee that you can pay as a consumer is your consumer surplus which is maximum when you are charged a price of $20 (the minimum cost which is the marginal cost)
At this price, the quantity demanded is (40 - 20)/2 = 10 times
Maximum annual membership = consumer surplus at (P = 20, Q = 10)
= 0.5*(40 - 20)*10
= $100
Hence, the answer is $100.
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