Full question:
In some states and localities, scalping is against the law although enforcement is spotty
A. Using supply/demand analysis and words, demonstrate what a weakly enforced antiscalping law would likely do to the price of tickets.
B. Using supply/demand analysis and words, demonstrate what a strongly enforced antiscalping law would likely do to the price of tickets
Answer and Explanation:
A. For the first scenario, a weakly enforced antiscalping law would still allow the resale of tickets as it is not enforced properly. Therefore it's effect on price would remain as though there were no laws restricting scalping( scalping: price increase created by artificial shortage and bulk resale of tickets) . See the attached diagram for the supply and demand curve and price increase as a result of a weak antiscalping law
B. For the second scenario, scalping has no effect on price as antiscalping laws are strong and therefore there is no scalping. Price remains the same and does not change.
In diagram A for first scenario price increases from p1 to p2 and quantity decreases from q1 to q2 to indicate increase in price and quantity decrease for shortage respectively. This shows the effect of scalping on the market with weak antiscalping laws
In diagram B, price and quantity remain the same to show strong antiscalping laws
Answer:
1. Economics - The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
2. Opportunity cost - The next-best thing that must be forgone in order to produce one more unit of a given product.
3. Marginal analysis - Making choices based on comparing marginal benefits with marginal costs.
4. Utility - The pleasure, happiness, or satisfaction obtained from consuming a good or service.
Answer:
Direct material= $340
Explanation:
Giving the following information:
Direct labor $540
Beginning work in process inventory $330
Ending work in process inventory $420
Cost of goods manufactured $1620
Manufacturing overhead $830
T<u>o calculate the direct material used in production, we need to use the following formula:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
1,620= 330 + DM + 540 + 830 - 420
Direct material= $340
Answer:
they use financial statements and other information prepared by accountants to make financial decision and are focused on the cash flows, the inflows and outflows of cash.
Explanation:
Answer:
The correct answer is predictive validity test.
Explanation:
A predictive validity test is carried out in order to predict the performance that a collaborator will have in the future. With this dynamic, it is ensured that an honest employee is hired, and that he always acts under the rules of the organization to which he will belong. In general, there are discrepancies compared to what many people can do under certain circumstances, and this test is precisely what they want to know about the performance under different scenarios.
