suppose that a small-town theater has six potential customers and is looking to implement price discrimination depending on when customers want to attend. suppose the marginal cost of serving an additional customer is $1.50. the data provide information about the time of attendance and willingness to pay for a ticket.
Answers
Based on the information that can be gotten from the question, the price that should be charged by the theater for the matinee ticket will be $7.
From the complete information, when the price is $4 and the 3 customers enjoy the movie, the profit will be:
= ($4 - $1.5) × 3
= $2.5 × 3
= $7.5
Now, let's assume that the price charged is $7 and 2 customers enjoy the movie, the profit will be:
= ($7 - $1.5) × 2
= $5.5 × 2
= $12
Now, when the price is $12 and only 1 customer enjoyed the movie, the profit will be:
= ($12 - $1.5) × 1
= $10.5
It can be depicted that the profit of the theater will be at maximum when the price that is charged is $7.
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Related Questions
Interactive online advertising that has drop-down menus, built-in games, or search engines to engage viewers is known as
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The term that describes interactive online advertising which contains drop-down menus as well as built-in games which engage viewers is Rich media.
Rich media can be regarded digital advertising term for an ads. It contains some advanced features such as video, search engines, drop-down menus.All these advanced features are used to encourage viewers so they can interact and engage with the content.Therefore, Rich media is the correct term.
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the term ________ is described as a formal means of analyzing long-range investment alternatives.
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X-Co issued 1,000 shares of its 5%, $100 par value, cumulative preferred stock for $100 cash per share. The journal entry to record this event includes a ______. (Check all that apply.)
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Answer:
- $100,000 debit to cash
- $10,000 credit to preferred stock
- $90,000 credit to additional paid-in capital
If a person wanted to purchase his or her dream car, and keep it for many years, is leasing or buying the better option? Why? a. Buying would be the better option because the overall cost would be less. After the car is paid off, the owner gets much more value from the car, having already paid it off. B. Leasing would be the better option, so the newest model could be driven every few years. C. It wouldn't matter, as long as the person got to drive the dream car. D. Leasing would be the better option because it would allow the person to customize the car and drive it as much as he or she wants.
Answers
Answer: A. Buying would be the better option because the overall cost would be less. After the car is paid off, the owner gets much more value from the car, having already paid it off
Explanation:
The best thing that a person can do if they want their dream car is buying because a. Buying would be the better option because the overall cost would be less. After the car is paid off, the owner gets much more value from the car, having already paid it off.
Why is buying better?Once you buy your car, it is yours and you can do with it as you please instead of observing stringent rules that come with leasing.
The total cost would also be less because you would have bought the car at a once off amount instead of an amount that has interest.
In conclusion, option A is correct.
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T. Hillcrest Co. sold $500 of merchandise on a bank credit card with a 5% fee. The entry to record this sales transaction would include debit(s) to:
Answers
Answer:
Cash for $475 and Credit Card Expense for $25
Explanation:
Cash for $475 and Credit Card Expense for $25
deductions and credits can _______ what you owe in taxes each year.
Answers
Answer: Decrease or Reduce
Based on taxation analysis, the deductions and credits can reduce what you owe in taxes each year.
This is because the tax deduction is a term used to describe what reduces how much of your income is liable to taxes.
Similarly, tax credits outright reduce the amount of tax you are deemed to pay.
Tax credits reduce the amount of tax to pay directly. For example, a tax credit of $2000 reduces your tax liability by $2000.
Hence, in this case, it is concluded that the correct answer is "reduce."
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which of the scenarios is the best example of a firm practicing perfect price discrimination?
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Home Depot hired an advertising agency to develop television ads for its grand opening in southern Maine. The advertising agency represents which component of the communication process
Answers
Answer:transmitter
Explanation:
When supply chain members realize that their goals and success are linked to others on the same team, they develop deeper long-term ______.
Answers
Answer:
must understand
Explanation:
The payroll taxes the employer is responsible for are:
A.
FICA-Medicare.
B.
FICA-OASDI.
C.
State income taxes.
D.
A and B.
Answers
The employer is responsible for the following payroll taxes in Option D. A and B.
The FICA-Medicare is a compulsory contribution just like the Social Security (or OASDI) that employers are expected to contribute some percentages and withhold stated percentages from the salaries of their employees.
Thus, the employer is not responsible for Federal and State taxes, but D. A and B. Employers can only withhold and remit the Federal and State taxes as required by law.
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Identify the market structure that most accurately describes the context in which each good or service is sold. retail clothing
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Market structure refers to the categorization of firms according to the types of goods they sell and their methods of operation. Given the question, the market structure that describes retail clothing is
Monopolistic CompetitionMonopolistic Competition is that where there are different firms selling similar things that are not particularly, exact.
It is easy to start up this sort of business because there are not so many barriers to entry.
Also, competitors are independent because the decision of one does not affect the others. Retail clothing is an example.
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What are the four (4) stages of an economy?
A. Recession, Growth, Inflation, Depression
B. Expansion, Peak, Contraction, Trough
C. Expansion, Inflation, Contraction, Depression
Answers
Answer: B
Explanation: what business believe will generate the most profits
how are the market and enterpreneurship related with each other?
Answers
Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. The process of acquiring and retaining customers is at the core of marketing.
Further, marketing provides an effective vehicle for achieving entrepreneurship within the corporation. As some have argued, marketing is the home for the entrepreneurial process. As a process, a firm's entrepreneurial orientation has three key dimensions: innovativeness, risk taking, and proactiveness.
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An example of a trade off is:
a.going to a movie to see your favorite actor
b.going to a movie because it got good reviews
c.giving up going to a movie because it got bad reviews
d.giving up going to a move to spend time shopping
Answers
giving up going to move to spend time shopping..
A dividend _______ is the amount of the dividend expressed as a percentage of the stock's market price,
Answers
Answer:
dividend yield
The dividend yield, expressed as a percentage, is a financial ratio (dividend/price) that shows how much a company pays out in dividends each year relative to its stock price. The reciprocal of the dividend yield is the price/dividend ratio.
Which of the following is not a step that can help you establish and maintain a good credit history?
a. Open a bank account.
b. Purchase a cell phone contract and pay it on time and in full every month.
c. Make car payments and car insurance on time.
d. Open many credit card accounts.
e. All of the above steps help establish good credit history.
Answers
Answer:
b. Purchase a cell phone contract and pay it on time and in full every month.
Explanation:
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The ________ rate is the interest rate specified, sometimes referred to as the coupon rate, stated rate, or nominal rate. Multiple choice question. market
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The ________ rate is the interest rate specified, sometimes referred to as the coupon rate, stated rate, or nominal rate. Multiple choice question. market
Answer: Contract
If a company has advance subscription sales totaling $45,000 for the upcoming year, when four quarterly journals will mailed to customers, the receipt of cash would be journalized as:
A. Debit Cash $45,000, credit Accounts Payable $45,000.
B. Debit Unearned Revenue $45,000; credit Sales $45,000.
C. Debit Sales $45,000, credit Unearned Revenue $45,000.
D. Debit Prepaid Subscriptions $45,000, credit Sales $45,000.
E. Debit Cash $45,000; credit Unearned Revenue $45,000.
Answers
The receipt of cash would be journalized as a Debit to Unearned Revenue for $45,0000 and Credit to Sales for $45,000.
Here, the company has advance subscription sales totaling $45,000 for the upcoming year.
It will be recorded in the entry as Debit to Unearned Revenue and Credit to Sales.Therefore, the Option B is correct because The receipt of cash would be journalized as a Debit to Unearned Revenue for $45,0000 and Credit to Sales for $45,000.
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bonds that require payment of the full principle amount of the bond at the end of the loan term are referred to as
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The type of bonds which requires payment of the full principal amount of the bond at the end of the loan term is known as Term bond.
The Term bond are debt securities which are issued by companies or government to investors with scheduled maturity dates.
In other word, the term bond matures on a specific date in the future.
The period of term bond is the between the time of bond's issuance and the scheduled maturity period.
Therefore, in conclusion, the term bond is the bond requires payment of the full principal amount of the bond at the end of the loan term.
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One of the reasons that a rise in the price of a fixed basket of goods over time tends to overstate the rise in a consumer's true cost of living, is: substitution bias attribution bias complimentary bias preference bias
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The effect that occur when there is rise in price of fixed basket of goods, which actually brings about the rise in a consumer's true cost of living is substitution bias .
Substitution bias can be regarded as effect that do occur when there is change in price of goods are relative to each other.In this case, the consumer usually leave the high priced goods for cheaper ones because of change in price.Therefore, option A is correct.
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hidden figures, 9. What kind of accomplishment was it for Katherine and the workers of Langley for the Eagle to land safely during the Apollo mission on the surface of the moon
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Katherine Johnson was an African American woman that played a notable role in seeing American land on the surface of the moon during the Apollo mission. For Katherine and the workers at Langley, it was a momentous and groundbreaking achievement.
At a time in American history when blacks were being discriminated against and facing some other harsh realities, Katherine an intelligent mathematician contributed significantly to the Apollo mission. In chapter 23 of Margot Lee Shetterly's book, "Hidden Figures," we see the deep sense of happiness and satisfaction that Katherine had in her ability to contribute to the success of that mission. She was also grateful to her teachers who helped her to develop her knowledge of mathematics.Learn more here:
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Apple's Steve Jobs had to convince the music industry of a very big change in how they marketed music - what was it
Answers
Answer:
to sell digital version of songs on itunes...
i think
describe the benefits of having an electronic resume
Answers
Answer:
Online resumes offer more flexibility and room for creativity than their printed counterparts. Here are just a few benefits of using an online resume service: Undoubtedly, some of your skills and prior experiences are more relevant to some jobs/companies than others.
Explanation:
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WHY ARE BLACK PEOPLE POOR
Answers
Answer:
Poverty and race are not the same things. Poverty is a circumstance. And like most circumstances, poverty has the ability to change. Poor can become middle class. Middle class can become rich. When you think of a poor person, what is that person’s color? I’ll start. I see a Black person.Black people are overrepresented in political discussions about poverty. The reality is, the vast majority of Black Americans are not living in poverty.
Explanation:
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an important feature of a job order cost system is that each job
Answers
Answer:
Job order costing is useful for determining if a job is profitable. It helps the company make estimates about the value of materials, labor, and overhead that will be spent while doing that particular job
Explanation:
Which concept is NOT basic to definition of economics?
O Choice
O Bartering
O Rational self-interest
O Scarcity
Answers
Answer:
O Rational self-interest
Explanation:
Decreased interest rates will shift the aggregate demand curve to the _____ and _____ output demanded.
Answers
The aggregate demand curve often shifts to the components of aggregate demand. The Decreased interest rates will shift the aggregate demand curve to the right and increased output demanded.
The component that is often shifted are consumption spending, investment spending.In expansionary monetary policy the central bank often makes the supply of money and loanable funds to increase, this in turn will lowers the interest rate, promoting additional borrowing for investment and consumption, and there shifting aggregate demand right.
The rate of government spending, and often rise.
An aggregate demand curve is known to show the total spending on domestic goods and services at each price level.
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Based on the macroeconomic model, the decreased interest rates will shift the aggregate demand curve to the right and increase the demand.
This implies that when the interest rate is reduced, people tend to borrow more, including investors and consumers.
As a result, the aggregate demand will increase, which means it has shifted to the right. At the same time, the output demanded would increase as more investors have access to capital to create more products.
Hence, in this case, it is concluded that the increase in aggregate demands leads to an increase in output demanded.
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Glenn works for a company that supplies food to restaurants. Where does Glenn MOST likely work?
O A.
at a packaging facility
OB.
at a retailer
OC.
at a wholesaler
D.
at a distributor
Answers
Based on the information given Glenn MOST likely work: D. at a distributor.
A distributor is a person or representative that supply goods or products by helping to distribute goods to were they are needed.
They mostly purchased goods in large amount from the manufacturer or producer and they supply those goods to the retailers.
Based on the given scenario we can say that Glenn work with a distributor reason being that he help to supply or distribute foods to restaurant.
Inconclusion Glenn MOST likely work: D. at a distributor.
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Because all other parts of the budget depend on it, if the ______ budget is inaccurate, the rest of the budget will be inaccurate.
Answers
Answer:
Sales budget
Explanation:
Because all other parts of the budget depend on it, if the sales budget is inaccurate, the rest of the budget will be inaccurate.
What is the sales budget?A sales budget is a financial plan that estimates a company’s total revenue in a specific time period. It focuses on two things: the number of products sold and the price at which they are sold to predict how the company will perform.
Sales budgets are important tools to help businesses estimate their overall performance and how much revenue they may make from a certain product. It helps companies forecast sales and maximize the utilization of their resources. A sales budget also serves as a planning tool for organizations to use to set specific standards for achievements. For instance, a company could take its annual sales budget of $1000 and divide it by four to determine the team's quarterly goal of $250.
Organizations can determine if their business is successful by examining how closely they reach their target.
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About how long is a true elevator pitch?
Answers
Answer:
It's about 30 seconds
Hope this helps
Explanation: