Answer:
B
Explanation:
because if you raise it high enough you can get less people to buy seen it in a lot of places
Answer:
The correct answer is downward sloping; downward sloping.
Explanation:
In a perfect competition the demand curve for an individual firm is a horizontal line parallel to the x axis. This happens because the firm is a price taker and operate on the price determined by the intersection of demand and supply curves. Any increase in the price will cause the demand to become zero.
While in the monopolistic market a single firm has downward sloping demand curve. Here, the firm is price maker and decides price level. Though, the consumers will demand more at lower price.
The industry supply curve for both will be downward sloping. This happens because, the firms consumers in a market will always demand more at low prices. The demand and price are inversely related.
Answer: Van's property tax will increase.
Trung's property tax will be less than Van's.
Trung's property tax will increase.
Explanation: Van’s property tax will increase because the value of his home is expected to increase more than Trung’s property value. Since Van’s property value is increasing and increasing more than Trung’s, Trung’s will be less than Van’s. Trung’s property tax is increasing due to the value increasing.
Answer:
Price elasticity of demand = Change in Quantity/ Change in Price
Using midpoint formula;
Change in Quantity ;
Change in Price;
Price elasticity of demand = -0.342/0.118
= -2.90
Demand is elastic, so decreasing ticket prices will increase revenue.
When the elasticity is larger than 1 it means that a 1% change in price will change demand by more than 1%. In this case, a a decrease of price by 1% will bring 2.9% increase in customers.
Answer:
$8 per direct labor hours and $2 per direct labor hours
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = Budgeted fixed manufacturing overhead ÷ planned activity level
= $480,000 ÷ 60,000 direct labor hours
= $8 per direct labor hours
And, the budgeted variable manufacturing overhead is $2 per direct labor hours
We simply divide the budgeted fixed manufacturing overhead by the planned activity level
