Answer:
Explanation:
a) To maximise profit, we would charge a price of 7 for adults and a price of 4 for children.
Profit would be = 7 x 300 + 4 x 200
Profit = 2900
This is the maximum profit other than fixed cost
b) If we have to keep one price of the ticket, then it would be 7. This would yeild a profit of 2100
c) From the law, the adults dont get any benefit, rather the children are in best position of free ticket
d) Fixed cost wont effect the answers above as long as the price and numbers of participants wont change
Answer:
Option (c) is correct.
Explanation:
During an economic activity between the two parties, if the third party is affected (Positively or negatively) by this economic transaction then this is known as externality.
There are two types of externalities:
(i) Positive externality: When the third party is positively affected by an economic transaction between the two parties.
(ii) Negative externality: When the third party is negatively affected by an economic transaction between the two parties.
Now, suppose there is a steel manufacturing company for the consumers. But the people who lives near this company have to bear the cost of the pollution created by the company. This is a negative externality.
Positive attitude. ...
Communication. ...
Teamwork. ...
Self-management. ...
Willingness to learn. ...
Thinking skills (problem solving and decision making) ...
Resilience.
Explanation:
The journal entries are shown below:
a. Inventory Dr $23,500
To Account payable $23,500
(Being inventory purchased on credit)
b. Account payable Dr $4,200
To Purchase return $4,200
(Being the return of the inventory is recorded)
c. Account payable Dr $19,300
To Cash $19,300
(Being the payment of the invoice is recorded)
