If you have a fraction, take one number and put a different number on top or underneath, for example if you have 2 cats and 3 dogs, the ratio from cats to dogs would be 2:3 but if you did 2 cats to the total number of animals, you would add 2 and 3 and get 5, so the ratio would be 2:5.
Answer: i. There are 140 students willing to pay $20.
ii. There are 200 staff members willing to pay $35.
iii. There are 100 faculty members willing to pay $50.
Step-by-step explanation: Suppose there are three types of consumers who attend concerts at Marshall university's performing arts center: students, staff, and faculty. Each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. There is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs.
For each concert:
A) If the performing arts center can charge only one price, what price should it charge? What are profits at this price? B) If the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits?
C) If the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?
Answer:
see explanation
Step-by-step explanation:
The nth term of an AP is
= a₁ + (n - 1)d
where a₁ is the first term and d the common difference
Given a₅ is double a₇ , then
a₁ + 4d = 2(a₁ + 6d) , that is
a₁ + 4d = 2a₁ + 12d ( subtract a₁ from both sides )
4d = a₁ + 12d ( subtract 12d from both sides )
- 8d = a₁
The sum of n terms of an AP is
= 
[ 2a₁ + (n - 1)d ] , substitute values
= 
( 2(- 8d) + 16d)
= 8.5(- 16d + 16d)
= 8.5 × 0
= 0
