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Stells [14]
3 years ago
15

A ticket reseller purchases a ticket to a football game for $40 and offers it for sale at a price of $75. A consumer is willing

to pay $90 at most for the ticket, and purchases it at $75. What does the $50 difference (between $40 and $90) represent?
Business
1 answer:
Burka [1]3 years ago
7 0

Answer:

profit + consumer surplus.

Explanation:

The profit obtained by the reseller is given by the difference between the amount received on sale ($75) and the purchase price ($40). The consumer surplus is determined as the difference between the willingness to pay ($90) and the actual amount paid ($75). Therefore, the difference between $90 and $40 is the profit plus the consumer surplus.

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UkoKoshka [18]

All are assumed except <u>A. Total variable costs remain the same over the relevant range.</u>

<u />

Cost-volume-profit analysis examines how changes in cost in volume affect income. Variable costs are ones that go up and down depending on production levels, so it would not make sense to assume that variable costs stayed the same over the relevant range.

5 0
3 years ago
A supervisor finds the mean number of miles that the employees in a department live from work. He finds and . Which statement mu
MrMuchimi

Complete Question:

A supervisor finds the mean number of miles that the employees in a department live from work. He finds x=2.9 and s=3.6. Which statement must be true?

z376 is within 1 standard deviation of the mean.

z37 is between 1 and 2 standard deviations of the mean.

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Answer:

z37 is between 2 and 3 standard deviations of the mean.

Explanation:

Standard deviation is a way of measuring of how much the value sample varies or disperses. A low standard deviation means that the values are near the mean value of the set, whereas a high standard deviation implies that the values are distributed over a wider range.

In reasonably average data sets, the values reflect about 68 per cent of the sample within 1 standard deviation from the mean; about 95 per cent in 2 standard deviations; and about 99.7 per cent within 3 standardized deviations.

6 0
3 years ago
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The "invisible hand"
Gala2k [10]
Not guarantee that resources will be allocated efficiently nor that there will be equality.
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Accruals recorded in the Salaries and Wages Expense and Salaries and Wages Payable columns of the balance sheet and income state
zhenek [66]

Answer:

Incurred but unpaid

Explanation:

When wages and salaries are incurred by an entity and paid, the entries required are debit Wages and Salaries expense, credit cash account. However, when the expense is incurred but cash is yet to be paid, this represents a liability to the organization and as such, an accrual is required. The entries to be posted are debit Wages and salaries expense (in the income statement), credit Accrued wages and salaries (in the balance sheet).

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True or false? Individual electronic components can be combined into larger groups, called diodes, to increase their usefulness.
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This is False.

A diode is something completely different, but can be found in a computer and is an important electronic part.
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