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Keith_Richards [23]
3 years ago
10

Suppose a movie theater determines it can charge different prices to patrons who go to weekday matinees and people who attend ev

ening and weekend shows . The movie theater’s goal is to increase total revenue.The price elasticity of demand for weekend and evening patrons is -0.50, and the price elasticity of demand for matinee moviegoers is -1.70. Based on the price elasticity of demand for each group of people, how should the movie theater adjust its prices?
Business
1 answer:
bija089 [108]3 years ago
7 0

Answer:

increase the price of weekend and evening tickets

decrease the price of matinee tickets

Explanation:

If the price elasticity of demand is elastic, a small change in the price of movie tickets will cause a larger change in the quantity demanded. If the price elasticity of demand is inelastic, a large change in the price will cause a small change in the quantity demanded.

If the PED for weekend and evening patrons is inelastic, then the movie theater should increase the price of the weekend and evening tickets in order to increase total revenue. In this case, a 10% increase in price will result in a 5% decrease in sold tickets.

If the PED for matinee patrons is elastic, then the movie theater should decrease the price of the matinee tickets in order to increase total revenue. In this case, a 10% decrease in price will result in a 17% increase in sold tickets.

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Belinda is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Belinda is "Financial Manager".

<h3>Who is financial manager?</h3>

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The roles of financial manager are-

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1 year ago
Finish the lyrics lol<br><br> "let it gooo, let it gooo_________________''
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Answer:

XDD aint it like "can't hold it back anymore" XDD i think it is from frozen

Explanation:

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2 years ago
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Pressure with Two Liquids, Hg and Water. An open test tube at 293 K is filled at the bottom with 12.1 cm of Hg, and 5.6 cm of wa
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Answer:

1170839.28 dyn/cm^2

16.9816 psia

117.083928 kN/m^2

Explanation:

To calculate the absolute pressure in the bottom of tube we need to sum the atmosferic and gauge pressure.

P_{abs}=P_{atm}+P_G

And the gauge pressure is given by the contributions of columns of water (P_{w}) and mercury(P_{Hg}), we can calculate the contribution of each column as:

P= \rho g h (*)

where \rho is the respective density, g gravity and h is height.

So we have all the data required to use the above equations (P_{atm}, height and density of each column) we only need to be carefully with the units.

For simplicity we can to express all pressure contributions in mmHg ( P_{atm}, P_{w} and P_{Hg}). Note that the units "x" mmHg  means the pressure at the bottom of a column of mercury of "x" mm high. For example, in this case we have a column 12.1 cm of Hg, that is a column of 121 mmHg (passing from cm to mm only requires multiply by 10) pressure exerted by that column is 121 mmHg.

Now pressure of 5.6 cm (56 mm) of water would be 56 mm of water, but it is not the same that mmHg, since the density of water is lower, the pressure exerted by 1 mm of water is lower than the exerted by 1 mm of Hg. The conversion between mmHg and mm of water is given by the relation between the densities.

mmHg=\frac{\rho_w*mmH_2O}{\rho_{Hg}}

mmHg=\frac{0.998*mmH_2O}{13.55}=0.0737 mmH_2O

And pressure of water in mmHg is

0.0737*56=4.1246 mmHg

The absolute pressure is:

P_{abs}=P_{atm}+P_G= 756 + 121 + 4.1246  = 881.1246 mmHg = 88.11246cmHg

To pass to dyn/cm^2 units we need to use the equation (*)

P= \rho g h = 13.55 \frac{g}{cm^3} * 980.665 \frac{cm}{s^2} * 88.11246 cmHg = 1170839.28 \frac{g}{cm s^2} = 1170839.28 \frac{dyn}{cm^2}

Note: We need to use cm Hg for units coherence

Now passing from dyn/cm^2 to kN/m^2 (or kPa) we need to consider that 1 dyn is 10^{-8} kN and 1 cm^2 is 10^{-4} m^2.  

1170839.28 \frac{dyn}{cm^2} * \frac{10^{-8}kN}{1 dyn}*\frac{cm^2}{10^{-4}m^2}=117.083928kN/m^2

Now passing kN/m^2 to psia. We need to consider that 1 psia is 6.89476.

117.083928kN/m^2*\frac{1psia}{6.89476kN/m^2}=16.9816 psia

 

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Answer:

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Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.

This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the  later would be recognized when is installation is concluded.

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