At a price of $8.5 per ticket, a musical theater group can fill every seat in their 1800 seat performance hall. For every additional dollar charged for admission, the number of tickets sold drops by 65. a) What ticket price maximizes revenue? Round your answer to the nearest cent.
Answers
Answer:
The ticket price that maximizes revenue is $18.10
Explanation:
Hi, first we need to construct the revenue equation in terms of the additional dollar charge (that would be X). That is:
So we expand it:
This is a parabola, and we need to find its vertex, which in our case that would be the maximum additional dollar charge in order to obtain the highest revenue possible, to find the vertex, we need to consider that:
And to find the X-coordenate we have to use the following equation.
In our case, A= -65; B= 1,247.5, so, all should look like this:
That means, we need to make 9.6 increments of $1 in order to obtain the max revenue possible, therefore, the price would be
Price = $8.50 + $1(9.6)= $8.50 + $9.6 =$18.10
Best of luck.
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Because of its highly efficient and low-cost distribution system, andro stores inc., a multinational retail corporation, has an edge over its rivals. andro's competitors will find it difficult to reproduce such a distribution system in the foreseeable future. it is clear, then, that andro has a(n) _____ over its competition.
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
Income Statement
2009
2010
2011
2012
2013
Revenue
404.3
363.8
424.6
510.7
See Table 2.5 showing financial statement data and stock price data for Mydeco Corp. Suppose My-deco’s costs and expenses had been the same fraction of revenues in 2010–2013 as they were in 2009. What would My-deco’s EPS have been each year in this case?
Table 2.5
Mydeco Corp. 2009–2013
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
Income Statement
2009
2010
2011
2012
2013
Revenue
404.3
363.8
424.6
510.7
604.1
Cost of Goods Sold
(188.3)
(173.8)
(206.2)
(246.8)
(293.4)
Gross Profit
216.0
190.0
218.4
263.9
310.7
Sales and Marketing
(66.7)
(66.4)
(82.8)
(102.1)
(120.8)
Administration
(60.6)
(59.1)
(59.4)
(66.4)
(78.5)
Depreciation & Amortization
(27.3)
(27.0)
(34.3)
(38.4)
(38.6)
EBIT
61.4
37.5
41.9
57.0
72.8
Interest Income (Expense)
(33.7)
(32.9)
(32.2)
(37.4)
(39.4)
Pretax Income
27.7
4.6
9.7
19.6
33.4
Income Tax
(9.7)
(1.6)
(3.4)
(6.9)
(11.7)
Net Income
18.0
3.0
6.3
12.7
21.7
Shares outstanding (millions)
55.0
55.0
55.0
55.0
55.0
Earnings per share
$0.33
$0.05
$0.11
$0.23
$0.39
Balance Sheet
2009
2010
2011
2012
2013
Assets
Cash
48.8
68.9
86.3
77.5
85
Accounts Receivable
88.6
69.8
69.8
76.9
86.1
Inventory
33.7
30.9
28.4
31.7
35.3
Total Current Assets
171.1
169.6
184.5
186.1
206.4
Net Property, Plant & Equip.
245.3
243.3
309
345.6
347
Goodwill & Intangibles
361.7
361.7
361.7
361.7
361.7
Total Assets
778.1
774.6
855.2
893.4
915.1
Liabilities & Stockholders’ Equity
Accounts Payable
18.7
17.9
22
26.8
31.7
Accrued Compensation
6.7
6.4
7
8.1
9.7
Total Current Liabilities
25.4
24.3
29
34.9
41.4
Long-term Debt
500
500
575
600
600
Total Liabilities
525.4
524.3
604
634.9
641.4
Stockholders’ Equity
252.7
250.3
251.2
258.5
273.7
Total Liabilities & Stockholders’ Equity
778.1
774.6
855.2
893.4
915.1
Statement of Cash Flows
2009
2010
2011
2012
2013
Net Income
18
3
6.3
12.7
21.7
Depreciation & Amortization
27.3
27
34.3
38.4
38.6
Chg. in Accounts Receivable
3.9
18.8
0
-7.1
-9.2
Chg. in Inventory
-2.9
2.8
2.5
-3.3
-3.6
Chg. in Payables & Accrued Comp.
2.2
-1.1
4.7
5.9
6.5
Cash from Operations
48.5
50.5
47.8
46.6
54
Capital Expenditures
(25.0)
(25.0)
(100.0)
(75.0)
(40.0)
Cash from Investing Activities
(25.0)
(25.0)
(100.0)
(75.0)
(40.0)
Dividends Paid
(5.4)
(5.4)
(5.4)
(5.4)
(6.5)
Sale (or purchase) of stock
-
-
-
-
-
Debt Issuance (Pay Down)
-
-
75.0
25.0
-
Cash from Financing Activities
(5.4)
(5.4)
69.6
19.6
(6.5)
Change in Cash
18.1
20.1
17.4
(8.8)
7.5
Mydeco Stock Price
$7.92
$3.30
$5.25
$8.71
Answers
Answers
Answer:
Total flexible budget cost=$25,000 per month
Explanation:
The total flexible budget can be expressed as;
Total flexible budget=Total variable cost+Total fixed costs
where;
Total variable cost=Cost per chair×actual number of chairs produced and sold
Total variable cost=(100)×180=$18,000 per month
Total fixed cost=$7,000 per month
replacing;
Total flexible budget=(18,000+7,000)=$25,000
Total flexible budget cost=$25,000 per month
Answers
Answers
Answers
In email, BCc stands for Blind Carbon Copy. You need to put mass email addresses into BCc in order to protect any email information from being obtain by cyber criminals
b. order the minor to cancel the contract.
c. require the minor to fulfill the contract.
d. allow the minor to cancel the contract.
Answers
Answer:
The correct answer is D
Explanation:
Under the doctrine of the stare decisis, the court will look into the past or the similar issues in order to guide their decisions related to the issues. And the past decisions are referred or acknowledged as the precedent.
Precedent is the principle or rule which is legal and it is established or created by the decision of the court. And this decision become the authority or the example for judging or deciding the similar issues.
Therefore, in this case, the trial court when deciding upon the case of D v E, will likely to allow or permit the minor to cancel the contract or the agreement.