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Firdavs [7]
2 years ago
4

The number of seats in a football stadium is fixed at 70,000. The city decides to impose a tax of $10 per ticket. In response, t

he team management raises the ticket price from $30 to $40 and still sells all 70,000 tickets. The tax caused a change in the consumer surplus of _____, a change in the producer surplus of _____, and a deadweight loss of _____.
(A) -$10; $0; $0

(B) -$700,000; $0; $0

(C) -$10; $0; $10

(D) -$700,000; $0; $700,000
Business
1 answer:
Feliz [49]2 years ago
3 0

Answer: The correct answer is "(B) -$700,000; $0; $0".

Explanation: The tax caused a change in the consumer surplus of <u>$-700000</u>, a change in the producer surplus of <u>$0,</u> and a deadweight loss of <u>$0.</u>

The change in consumer surplus is due to the $ 10 increase lost by consumers (10 x 70000 = 70000).

The rest does not vary because management decided to raise the price of the product, instead of bearing the tax.

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MakcuM [25]

Answer:  Option A                                                              

 

Explanation: In simple words, concurrent controls refers to the regulation of activities by an organisation to make sure that those activities are performed as per the standards set. Usually the activities regulated under this type of control are related to the transformation process.

Such control is made to improve an existing performance and not in relation to some new set of activities that are to be performed. Hence from the above we can conclude that the given case is an example of concurrent control.

6 0
2 years ago
Maryland Incorporated produces toys. Total manufacturing costs are​ $360,000 when​ 50,000 toys are produced. Of this​ amount, to
Aleonysh [2.5K]

Answer:

$458,000                

Explanation:

The computation of the total production cost in case of 85,000 toys are produced

The fixed cost is

= Total manufacturing cost - total variable cost

= $360,000 - $140,000

= $220,000

And, the variable cost per unit is

= $140,000 ÷ 50,000 toys

= $2.8

So for 85,000 toys, the total production cost is

 = Fixed cost + Variable cost × variable cost per unit

= $220,000 + 85,000 toys × $2.8

= $220,000 + $238,000

= $458,000                                                                                

5 0
2 years ago
Which of the following choices best describes why it is difficult to start a self improvement plan?
kvv77 [185]
C is the correct answer.
4 0
2 years ago
Read 2 more answers
The cash account of Grande Home Improvement Store shows the following:
melomori [17]

Answer:

a debt of $  27,000 is left in the cash account = -27,000

Explanation:

because when you add all the nos the debts become <em>negative numbers </em>

and when we add them we get a debt of  27,000 which is equal to -27,000

3 0
2 years ago
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Keith_Richards [23]

Answer:

point of difference

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This point of difference that Medtronic's Micra pacemaker has that ,make his vitamins available for implantation directly to the heart without surgery, is as a result of point of difference in a company gives a differentiation between him/her and his/her others organization or business offering the same services.

8 0
2 years ago
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