1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SCORPION-xisa [38]
2 years ago
10

Max and maddy charge people to park on their lawn while attending a nearby craft fair. At the current price of $10, seven people

park on their lawn. If they raise the price to $15, they know that only five people will want to park on their lawn. Whether they have seven or five cars parked on their lawn does not affect their costs. From this information it follows that
a. They should leave the price at $10.
b. It does not matter if they charge $10 or $15.
c. They would do better charging $15 than $10.
d. They should raise the price even more.
Business
1 answer:
guapka [62]2 years ago
5 0

Answer: c. They would do better charging $15 than $10.

Explanation:

It is given that Max and Maddy total cost of car parking remains the same, that is it does not matter whether they have seven or five cars parked on their lawn. So, since total cost is constant, Max and Maddy's decision would depend on total revenue.

Profit = TR- TC

Total revenue from charging, $10 is $70,

Total revenue from charging $15 is $75.

Since, total cost is constant, Max and Maddy will choose to charge $15 since it is giving them $5 more.

You might be interested in
Marketers describe the way a consumer processes information to arrive at brand choices as ________.
myrzilka [38]

Alternative evaluation is what Marketers characteristic the way the consumer make information to arrive at brand choices as alternative evaluation.  After buying a product, the consumer will be satisfied or dissatisfied and will engage in post purchase behaviour. The relationship between the consumer's expectations and the product's perceived performance determines whether the buyer is satisfied or dissatisfied with a purchase.

5 0
3 years ago
Justify the effectiveness of the national credit act ,2005 on businesses
forsale [732]

Answer:

The Act was introduced to: promote a fair and non-discriminatory marketplace for access to consumer credit

Explanation:

The National Credit Act was enacted on the premise that consumers need to be protected from this practice. The Act thus exerts pressure on the credit lenders to assess the consumer's ability to repay, disclose the cost of credit, as well as setting limit on interest that can be charged.

5 0
2 years ago
Osage Corporation issued 3,700 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit acco
Elden [556K]

Answer:

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock....................33,300

Cr. Additional Paid in Capital..24,700

Being issuance of 3,700 shares of common stock at par value of $9 per share, with premium

Explanation:

(a) The stock had a par value of $9 per share and was issued for a total of $58,000.

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock....................33,300

Cr. Additional Paid in Capital..24,700

Being issuance of 3,700 shares of common stock at par value of $9 per share, with premium

(b) The stock had a stated value of $9 per share and was issued for a total of $58,000.

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock....................33,300

Cr. Additional Paid in Capital..24,700

Being issuance of 3,700 shares of common stock at par value of $9 per share, with premium

(c) The stock had no par or stated value and was issued for a total of $58,000.

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock............58,000

Being issuance of 3700 common stock with no stated value per share

(d) The stock had a par value of $9 per share and was issued to attorneys for services during incorporation valued at $58,000.

<u>JOURNAL ENTRY</u>

Dr. Service fees..................58,000

Cr. Common Stock.........................33,300

Cr. Additional Paid In capital........24,700

Being issuance of 3,700 shares of common stock at par value of $9 per share, with premium; for attorney fees

(e) The stock had a par value of $9 per share and was issued for land worth $58,000.

<u>JOURNAL ENTRY</u>

Dr. Service fees..................58,000

Cr. Common Stock.........................33,300

Cr. Additional Paid In capital........24,700

Being issuance of 3,700 shares of common stock at par value of $9 per share, with premium; for acquisition of land.

7 0
3 years ago
Washington state university lost its football game against notre dame in overtime, when the kicker missed. the kicker got death
erik [133]
Scapegoat theory - apex 

4 0
3 years ago
Read 2 more answers
PLEASE HELP ME????
zalisa [80]
B is the answer a teenage requires between 7 to 8 hours sleep
6 0
3 years ago
Read 2 more answers
Other questions:
  • Look carefully at the following list. a. The coins in your pocket. b. The funds in your checking account. c. The funds in your s
    12·1 answer
  • In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following ord
    10·1 answer
  • EXERCISE 5–4Computing and Using the CM Ratio [LO5–3] Guided Example 5-4 Last month when Holiday Creations, Inc., sold 50,000 uni
    8·1 answer
  • A. Calculate the total estimated bad debts on the below information.
    11·1 answer
  • If planned aggregate spending in an economy can be written as pae = 15,000 + 0.6y - 20,000r, and potential output equals 36,000,
    12·1 answer
  • There is a wide array of cosmetics currently available in the market. Exhibitor Labs makes a line of cosmetics including eye acc
    6·1 answer
  • Given the following information about the closed economy of Brittania, what is the level of investment spending and private savi
    13·1 answer
  • What are financial institutions and why are they so important
    13·1 answer
  • Of products found in each category.
    10·1 answer
  • The applications of analytics are not just limited to business but extend to a wide-array of human activity.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!