Patronage principle based its hiring and promotion system on political reasons while the merit principle employed the idea that hiring should be based on entrance examination and promotion. One of the major disadvantage of the patronage principle is that, it may end up employing people who are not qualify for the job. Merit principle choose based on qualifications.
Answer:
Explanation:
To maximize profit, you would charge $8 for an adult's ticket and $4 for a child?s ticket. Total profit in this case would be $800.
The city council passes a law prohibiting you from charging different prices to different customers.
Now you set a price of $8 for all tickets, resulting in $600 in profit.
Indicate whether each of the following groups of people is better off, worse off, or the same because of the law prohibiting price discrimination.
Groups of People Better Off Worse Off Unchanged
Adults x
Children x
You, the Producer x
Suppose the fixed cost of the play were $2,600 rather than $2,000.
Complete the following sentences indicating how this would change your answers to the previous parts.
In the presence of price discrimination, the adult price of a ticket would remain the same, and the child price would remain the same. Total profit would fall to $200.
If price discrimination were banned and the monopolist continued to produce the play no matter what the profit, the price of a ticket would remain the same, and total profit would fall to $0.
Answer:
True
Explanation:
Affinity audiences are part of an audience that is targeted for an advertiser’s display campaigns. Advertisers raise their product awareness by targeting groups based on their passions, lifestyles and specific interests. Let us suppose that you have a new line of makeup that you wish to advertise. The best approach is to target women who constantly do a research of makeup and passionate about this environment.
Answer:
Option (c) is correct.
Explanation:
Option A:
Income of the consumer is related to the normal and inferior goods.
If there is an increase in the income level of the consumer then as a result the demand for normal good increases and there is a rightward shift in the demand curve of normal good.
Option B:
Price of related goods: substitute goods and complimentary goods.
For example,
If there is an increase in the price of one good then as a result the demand for the substitute good increases which will shift the demand curve of substitute goods rightwards.
Option C:
If there is an increase in the price of the product then as a result the quantity demanded for that product decreases. This shows that price of the product would not change the demand but the quantity demand.
Answer:
A) life annuity (no refund)
Explanation:
The other option will be lower as there are premium on the fact Brad may die in the next few years and thus; and acquaintance will take either the guaranteed payment or the refund in the annuity.
As the first option doesn't allow for this, it will provide the highest monthly income to Brad.
