Suppose that a small-town theater has six potential customers and islooking to implement price discrimination depending on whencustomers want to attend. Suppose the marginal cost of serving anadditional customer is $1.50. The data provide information about thetime of attendance and willingness to pay for a ticket.CustomerMaximum willingnessTime ofattendanceto payBrandon$7matineeTyler$30eveningAustin$10eveningAlexis$8matineeAshley$20eveningEmily$15matineeWhat should the theater charge for evening tickets?What should the theater charge for matinee tickets?$

The objective of the question is to determine the optimal price for evening and matinee tickets that…

Answered: Suppose that a small-town theater has…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Roxy Theatre is a monopoly. Roxy discovers that at the price that maximizes its profit, seniors are not coming to the theatre. So Roxy conducts a survey. The table reveals the results of the survey. Roxy decides to price discriminate among patrons who attend on weekends and those who attend on weekdays. Price (dollars per ticket) Weekends Quantity demanded (tickets per week) Weekdays 18.00 0 15.00 100 0 12.00 200 0 If the marginal cost of a show is $6.00, what price does Roxy charge on weekdays and what price does Roxy change on weekends to maximize profit? 9.00 300 0 6.00 300 200 3.00 300 300 If the marginal cost of a show is $6.00, Roxy will maximize profit by charging on weekdays and charging. a ticket on the weekend. a ticket
Hawk Airways is about to introduce a daily round-trip flight from New York to Los Angeles and is determining how to price its round-trip tickets. The market research group at Hawk Airways segments the market into business and pleasure travelers. It provides the following information on the effects of two different prices on the number of seats expected to be sold and the variable cost per ticket, including the commission paid to travel agents: (Click the icon to view the pricing and ticket information.) Pleasure travelers start their travel during one week, spend at least one weekend at their destination, and return the following week or thereafter. Business travelers usually start and complete their travel within the same work week. They do not stay over weekends. Assume that round-trip fuel costs are fixed costs of $24,000 and that fixed costs allocated to the round-trip flight for airplane-lease costs, ground services, and flight-crew salaries total $188,000. Read the requirements.…
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Please help with the income statement based on info below: Pricing Actual # Revenue Grooming 25 4 3,000 Daycare 18 22 11,880 Boarding 25 12 9,000 Total January Revenue 23,880
You own a restaurant and are considering additional waiters. Alfred’s pay scheme would be $120 per evening. Blanchard’s pay scheme would be $10 per table served. A. Which would be considered a variable coat and which a fixed cost? B. Charles, a third potential waiter, asks for $60 per evening plus $5/table. From the perspectives of Alfred, Blanchard an Charles, who is taking the most risk and who the least? Who has the most to gain and who the least? C. As you are about to choose, Dutch enters and offers the following: He will accept $7.50/table but wants a guaranteeof minimum $30 per evening. Comparing Charles’ and Dutch’s offers, where do they “break even” for you (i.e., at how many tables will you be paying them the same amount)?
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A nightclub has a target amount of $10 for the average amount each customer spends on drinks. They find that the average amount each customer spends is $8. So the nightclub reduces prices by 10% in the hope that customers will purchase more drinks. By what percent must custom ers increase their spending with the new pricing structure for the nightclub to reach its goal? O A) 72% O B) 172% O C) 39% O D) 139% Clear selection
Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzeria's owner has determined that the shop has two major cost drivers-the number of pizzas sold and the number of deliveries made. The pizzeria's cost formulas appear below: Fixed Cost per Month Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent $ 5,910 $ 610 Miscellaneous $ 630 $ 400 $ 1,870 $ 730 In November, the pizzeria budgeted for 1,560 pizzas at an average selling price of $15 per pizza and for 220 deliveries. Data concerning the pizzeria's actual results in November appear below: Actual Results. 1,660 200 $ 25,450 $ 7,210 $ 5,850 $ 885 $ 620 $ 986 $ 400 Cost per Pizza $ 4.40 $ 1,870 $ 790 $ 0.30 Cost per Delivery $ 0.15 $ 3.10 $…
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ON Step 5 why is the amount of Film not added into the problem? He also lets you know that he’s been approached by a potential client inquiring about a special order, and he wants you to advise him on whether to accept the order. The client wants 500 custom posters for $7 per poster. The posters will require a different type of paper that will cost $0.10 more per poster. The order will also require Lorenzo to pay an extra $1000 in employee costs

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