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Marrrta [24]
2 years ago
12

One day, a local theme park charges $40 per person for admission, and 10,000 people visit the park. On another day, the park cha

rges $60 per person, and 20,000 people pay to enter the park. Which explanation best describes why the park sees an increase in attendance when the price is higher? Theme-park tickets are part of a rare class of goods which do not follow the Law of Demand. High prices signal a high quality park experience. The higher price gives the park an incentive to expand capacity and permit more visitors. The low-attendance day falls on an autumn Wednesday, while the high-attendance day falls on a summer Saturday.
Business
1 answer:
slega [8]2 years ago
8 0

Answer:

The low-attendance day falls on an autumn Wednesday, while the high-attendance day falls on a summer Saturday.

Explanation:

There are no rare class of goods which do not follow the Law of Demand

The most probable reason may be the dates are at different time period, when the demand is lower and therefore the price must be lower to generate  enought attendance  to make it profitable. While, the second date is onpeak demand.

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Grengens, a European chocolate manufacturer, received several complaints from customers about the quality of its product when it
Kay [80]

Answer:

Letter E is correct. <u>Product disapprobation.</u>

Explanation:

In this matter, we can say that the factor that probably dictated the adaptation of Greengens products in this scenario was the product's disapproval.

This failure of the chocolate company Greengens was due to some management error and analysis of the market in question. When entering an international market, the company must analyze a series of important variables for the product to be accepted by the local public, no matter how standardized the product is, there are some local characteristics that should not be disregarded, such as local values, culture , needs, tastes, etc., which means that an adaptation of a product or service is necessary for it to be actually accepted and consumed in a given country.

4 0
3 years ago
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month
julsineya [31]

Answer and Explanation:

a. The preparation of the cost of goods manufactured statement is as follows:

Opening work in process $119,760

Direct Material    

Opening inventory $178,750  

Add: Material Purchased $343,200  

Cost of Materials Available  $521,950  

Less: Ending Inventory -$151,940  

Cost of Direct Materials Used $370,010  

Direct Labor  $321,750  

Factory Overhead:    

Indirect Labor $34,320  

Machinery Depreciation $20,740  

Heat, Light and Power $7,150  

Supplies $5,720  

Property Taxes $5,010  

Miscellaneous Costs $9,300  

Total Factory Overhead $82,240  

Total Manufacturing Costs Incurred $774,000

Total Manufacturing Costs   $893,760

Less: Ending Work in Process $101,800

Cost of Goods Manufactured $791,960

b. Now the cost of goods sold is

Cost of Goods Sold= Cost of Goods Manufactured + Beginning Finished Goods - Ending Finished Goods

= $791,960 + $91,160 - $103,320

= $779,800

5 0
3 years ago
Microeconomics question, please help...70 pts!
Blababa [14]

price : 5 quantity 3

price 10 quantity 6

and so on

6 0
3 years ago
Cayuga Hardwoods produces handcrafted jewelry boxes. A standard-size box requires 8 board feet of hardwood in the finished produ
cupoosta [38]

Answer:

$44 per case.

Explanation:

If  A standard-size box requires 8 board feet of hardwood in the finished product. In addition, 2 board feet of scrap lumber are normally left from the production of one box. Hardwood costs $4.00 per board foot, plus $1.50 in transportation charges per board foot.

Then, To calculate the standard cost of direct materials for the jewelry box, we multiply the direct materials standard price of $4.00 (plus the transportation costs of 1.50 per board foot) by the direct materials standard quantity of 8 feet (8 board feet of hardwood in the finished product) per unit.

The result is a standard direct materials cost of $44 per case.

8 0
3 years ago
Which factor or factors listed below are internal influences on a loan’s interest rate?
Romashka-Z-Leto [24]
There is only one factor listed here that is internal influeence on a loan's interest and that is the secind one, which is called collateral offered by the borrower. The rest of them are not internal influences, they are a little bit more of external. Hope this works
6 0
3 years ago
Read 2 more answers
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