fa skating rink rents the rink for parties at $200 if 20 or fewer skaters attend,...
The owner of a skating rink rents the rink for parties at $1320 if 60 or fewer skaters attend, so that the cost per person is $22 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Price per Skater Total Revenue 60 $ 70 $ 80 $ (b) Does the owner's revenue from...
The owner of a skating rink rents the rink for parties at $1080 if 60 or fewer skaters attend, so that the cost per person is $18 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by s0.50 (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. Total Revenue Skater 60 70 80 (b) Does the owner's revenue from the rental of the rink increase or decrease...
A certain band charges $124 per ticket for concerts when 224 people attend. The band members realize that for every $6 increase in the ticket price 3 fewer people will attend the concert. Find a revenue function R in terms of x where x represents the number of additional $6 increases in the ticket price. [A] R(x) = Preview [B] Find R'(x) = Preview [C] Find the critical value(s): Preview [D] Perform the second derivative test to determine if there...
9.When price increase from $43 to $49, quantity supplied increases from 220 units to 240 units. The price elasticity of supply in this price range is (use the Midpoint Formula): Multiple Choice a.0.3 b.0.67 c.1.5 d.3.33 10. When any change in price results in an infinite change in quantity demanded: Multiple Choice a.price elasticity of supply is zero. b.demand is perfectly elastic. c.demand is perfectly inelastic. d.price elasticity of supply is infinite. 12. Over a longer period of time: Multiple...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40 euros, the price per unit of good X (i.e. Px ) is 5 euros and the price per unit of good Y (i.e. Py) is 1 euro. a) What is the marginal utility of good X (MUx) for the consumer? ( Answer: MUx = 10) b) What is the marginal utility of good Y (MUy) for the consumer? ( Answer: MUy = 1) c)...
1) Decreasing returns to scale may occur as increasing the amount of inputs used A) increases specialization B) may cause coordination difficulties. C) always increases the amount of output produced D) increases efficiency. 2) Which of the following statements is NOT true? A) AFC = AC - AVC C) AVC = wage/MPL B) AC = AFC + AVC D) C=F-VC 3) The more elastic the demand curve, a monopoly A) will have a larger Lemer Index. will face a lower...
FART I TRUE FALSE QUESTIONS (10 points). Please write True (1) or False (F) on the blank Scarcity is the intimited nature of society's resources given society's limited wants 2. A reward is a type of positive incentive. 3. To remove difficulty of double coincidence of wants we use money. 4. An exogenous factor is a variable that can be controlled for inside the model. 5. The PPF will not have a constant slope. 6. The law of demand states...
Analyze the case the answer the questions: introduction of the case assess the financial reporting landscape considering the user needs, constraints, and business environment, identify the issues, analyze the issues (qualitatively and quantitatively), and provide a recommendation and conclusion. Original content only no copy-paste, please INTRODUCTION Jaden McCoy operated a dairy goat farm in Soddy-Daisy, Tennessee, and was considering expanding the rental of his goats for land clearing. In early 2011, McCoy successfully bid on a job to clear a...
INTRODUCTION Jaden McCoy operated a dairy goat farm in Soddy-Daisy, Tennessee, and was considering expanding the rental of his goats for land clearing. In early 2011, McCoy successfully bid on a job to clear a section of property at a nearby resort. McCoy's goats performed as expected and he eamed a small profit in the process. The resort manager was quite happy because the difficult-to-reach areas of the property were cleared on time and on budget at a cost well...
Need general journal transactions for 31, 35, 36, 37, 38, and 41. Excel File Edit View Insert Format Tools Data Window Help Page Layout Formulas Data Review View AA = = = Wrap Text Home Insert R Xcut © Copy - Paste Format A x B I U Morge & Center f June 30: Check #5013 was used to pay for a cash dividend of $0.21 per share to Jeremy, a shareholder of Byt B The Computer Equipment has an...