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aksik [14]
3 years ago
6

Suppose executives at an art museum know that 100 adults are willing to pay $12 for admission to the museum on a weekday. Suppos

e the executives also know that 200 students are willing to pay $8 for admission on a weekday. The cost of operating the museum on a weekday is $2,000. How much profit will the museum earn if it engages in price discrimination?
$1,200
$2,600
$1,600
$800
Business
1 answer:
tresset_1 [31]3 years ago
3 0

Answer:

$800

Explanation:

Price discrimination is a technique used by business owners and business in general that consists on chargin a certain group the maximum they are willing to pay for the product of service, in this case it would be $12 for adults and $8 for students, to know how much they will make we just multiply the cost of the tickets by the tickets bought, and the fmor that withdraw the cost of operation.

Tickets*Tickets cost=Earnings\\($12*100)+($8*200)=\\(1200)+(1600)=$2800

Now we know the museum made $2800 in tickets, we take out the $2000 of the operational cost, and we are left with $800 wich would be the net profit for the museum.

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Bedrock Company reported a December 31 ending inventory balance of $412,500. The following additional information is also availa
belka [17]

Answer:

The correct Ending Balance = $ 390300

Explanation:

Ending Balance of inventory = $ 412500

Less Office Supplies   = $22,200

The correct Ending Balance = $ 390300

Goods already cosigned are the consignor's inventory unless they are sold. They are not included in the consignee's inventory. So they will be included in the ending inventory.The office Supplies are not the inventory goods. They are daily expense goods and are not included in the inventory.

3 0
3 years ago
Read 2 more answers
On June 10, Blossom Company purchased $7,100 of merchandise from Sunland Company, terms 4/10, n/30. Blossom Company pays the fre
Marysya12 [62]

Answer:

June 10

Dr Inventory $7,100

Cr Accounts payable $7,100

June 11

Dr Inventory $350

Cr Cash $350

June 12

Dr Accounts payable $600

Cr Inventory $600

June 19

Dr Account payable $6,500

Cr Cash $6,240

Cr Inventory $260

Explanation:

Preparation of a separate journal entries for each transaction on the books of Blossom Company.

Books of Blossom Company

June 10

Dr Inventory $7,100

Cr Accounts payable $7,100

June 11

Dr Inventory $350

Cr Cash $350

June 12

Dr Accounts payable $600

Cr Inventory $600

June 19

Dr Account payable $6,500

($7,100-$600)

Cr Cash $6,240

($6,500-$260)

Cr Inventory $260

(4%*$6,500)

8 0
3 years ago
Suppose that a person's nominal income rises from $10,000 to $12,000 and the consumer price index rises from 100 to 105. The per
Kazeer [188]

Answer:

C) Rise about 15 percent

Explanation:

The computation of the increase or decrease of real income is shown below:

Initial income equals to

= Nominal income ÷ Consumer price index

= $10,000 ÷ 100

= 100

If it increases, then it would be

= Nominal income ÷ Consumer price index

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So, the real income is increased from

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= 14.28 approx i.e 15 percent

8 0
3 years ago
Which of the following can a grocery store change in the long run?
ddd [48]

Answer:

I believe all of the above

Explanation:

went with what came to mind if its wrong very sorry.

3 0
3 years ago
An economy where the government sets prices, determines what and how many items will be produced, and assigns
marysya [2.9K]
The answer would be A, command economy
5 0
3 years ago
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