Answer:
a) 120 skiers per day
b) 6.25% increase in revenue
Explanation:
a) If the average skier stays 10 days, the average turnover is 1/10 of the skiers per day, or 1200/10 = 120 skiers per day.
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b) For a stay of n days, the average skier spends ...
50 +(n-1)30 = 20 +30n
and the average spending per day is ...
(20 +30n)/n = (20/n) +30
So, for a 10-day stay, the average skier spends in restaurants ...
20/10 +30 = 32 . . . . per day
And for a 5-day stay, the average skier will spend ...
20/5 +30 = 34 . . . . per day
The change in restaurant revenue is expected to be ...
(34 -32)/32 × 100% = 2/32 × 100% = 6.25%
Restaurant revenues will be 6.25% higher compared to last year.
Answer:
The correct answer is option a.
Explanation:
Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.
The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.
So, the given statement is not correct.
Answer:
You must deposit $14,824.07
Explanation:
Giving the following information:
Sister:
Investment= $14,000
Interest rate= 10.5%
Number of years= 9
You:
Investment=?
Interest rate= 9.8%
Number of years= 9
First, we need to calculate the future value of your sister:
FV= PV*(1+i)^n
FV= 14,000*(1.105^9)= $34,386.55
Now, we can determine your deposit:
PV= FV/(1+i)^n
PV= 34,386.55/ (1.098^9)= $14,824.07
This is false because consumer surplus declines because of the increase in price and reduction in quantity.
Answer:
the amount that should be excluded from the current liabilities is $750,000
Explanation:
The computation of the amount that should be excluded from the current liabilities is shown below;
= Number of shares in the common stock × selling price per share
= 30,000 shares × $25
= $750,000
Hence, the amount that should be excluded from the current liabilities is $750,000