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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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Simone started the meeting at BCD Co. by focusing the attendees on the company's current status. "We have a good product mix," s
WINSTONCH [101]

Answer:

Market development

Explanation:

Market development can be described as a marketing strategy in which new market segments are identified and developed for current products of a company.

The focus of a market development strategy are the existing customers and new customers in the targeted segments that are not currently buying the products of the company.

Market development is therefore a marketing strategy that is employed when a company wants to expand its total market by making effort to promote its current product to new consumers or a new geographical area.

From the question, the statement that  "To continue to grow, we need to target more segments" by Simone indicates that the strategic path Simone is pursuing is <u>market development</u>.

6 0
3 years ago
Refer to scenario 3.2. Acme wants to hire a trusted third-party verification site that specializes in internet security to view
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Answer: Technology Assessment

Explanation: Technology is defined as "science or knowledge applied to a definite purpose." Technology assessment refers to a policy research that applies to long and short term consequences if the technology is implemented.

Acme is looking to hire a technology with a specific purpose of security of its client. So here, Acme is looking for technology assessment.


6 0
3 years ago
Handerson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direc
zavuch27 [327]

Answer:

Variable manufacturing overhead rate variance= $677.1 unfavorable

Explanation:

Giving the following information:

Standard:

Variable overhead 0.3 hours $ 7.80 per hour

Actual output 5,000 units

Actual direct labor-hours 1,110 hours

Actual variable overhead cost $ 9,340

<u>To calculate the variable overhead rate variance, we need to use the following formula:</u>

Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity

Actual rate= 9,340/1,110= $8.41

Variable manufacturing overhead rate variance= (7.8 - 8.41)*1,110

Variable manufacturing overhead rate variance= $677.1 unfavorable

4 0
3 years ago
Green Roof Foods currently has a debt-to-equity ratio of .63, its cost of equity is 13.6 percent, and its pretax cost of debt is
Snowcat [4.5K]

Answer:

d.9.34%

Explanation:

The formula for the weighted average cost of capital is provided below as a starting point for solving this question:

WACC=(weight of equity*cost of equity)+(weight of debt*after-tax cost of debt)

weight of equity=1-debt %=1-50%=50%

weight of debt=50%

cost of equity=13.6%

after-tax cost of debt=7.8%*(1-35%)

after-tax cost of debt=5.07%

WACC=(50%*13.6%)+(50%*5.07%)

WACC=9.34%

The discount rate is computed based on the target or preferred capital structure

8 0
3 years ago
It is less important to account for factors like warranties and durability when purchasing a
shepuryov [24]
Long-term product or b
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