First, calculate for the total operating cost of the park through the equation,
TC = TV + TF
where TC is the total cost,
TV is the total variable cost which is equal to the product of the variable cost per visitor and number of visitor, and
TF is the total fixed cost.
Substituting the known values,
TC = ($15)(1,750,000) + $60,000,000 = $86,250,000
Then, the total revenue is the product of the cost of ticket and the number of visitors.
TR = ($50/visitor)(1,750,000 visitors) = $87,500,000
Subtracting the two values will give us an answer of $1,250,000.
ANSWER: $1,250,000
Answer:
Balance in Prepaid insurance as of December 31 is $18,750
Explanation:
<em> </em>Computation of Prepaid Insurance
Insurance 1 ($34,200 * 6/18) $11,400
Insurance 2 ($14,700 * 12/24) <u>$7,350 </u>
Total Prepaid Insurance <u>$18,750</u>
Answer:
quantity demanded equals quantity supplied
Explanation:
The market equilibrium is the price at which the quantity demanded and the quantity supplied cross each other. The intersection could be made by supply and demand curves.
Therefore, there is a direct relationship between the price and the quantity supplied, while the price and quantity demanded have an inverse relationship.
When the quantity demanded and the quantity supplied are intersect at the price so we called market equilibrium
Answer:
They dont earn no more than $28,000 a year
Answer:
D) The recording label should expand the production and distribution of RG 2RG2's first CD.
Explanation:
According to the law of supply and demand, since the customers are willing to pay a price higher than equilibrium price, that means that their is a shortage of the product or service and that the supply should increase in order to get the price back to equilibrium price.
