How many people must buy tickets so that the trip need not

Assignment Help Microeconomics
Reference no: EM13317482

A group has chartered a bus to Atlanta. The driver costs $200, the bus costs $500, and parking in Atlanta will be $90. You have already paid $700 to reserve the bus and a driver. The driver’s fee is non-refundable, but the bus may be canceled a week in advance at a charge of $75. At $20 per ticket, at least how many people must buy tickets so that the trip need not be canceled?

Reference no: EM13317482

Questions Cloud

Design appropriate it infrastructures to manage data : In the unlikely event of any discrepancy between the Academic Regulations and any other publication, including this module guide, the Academic Regulations, as the definitive document, take precedence over all other publications and will be applied..
What is her afc per poster if she prints 10000 posters : Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1 per poster. She has fixed costs of $250.
For each of the following draw a diagram that illustrates : For each of the following, draw a diagram that illustrates the likely effect on the market for eggs. Indicate in each case the impact on equilibrium price and equilibrium quantity.
Estimate of the various npvs : Accuracy, and consistency, of the future cash-flows. Which entries make sense ? Which do not ? Why or why not and what additional information you would need to construct a version
How many people must buy tickets so that the trip need not : A group has chartered a bus to Atlanta. The driver costs $200, the bus costs $500, and parking in Atlanta will be $90. You have already paid $700 to reserve the bus and a driver
What is the difference between the price paid by consumers : What is the difference between the price paid by consumers and the price received by producers? Has the quantity of beer sold increased or decreased?
The publisher plans to sells the text to college : Eastman Publishing Company is considering publishing a paperback textbook on spreadsheet application for business. The fixed cost of manuscript preparation
Workers are compensated by firms with benefits in addition : Workers are compensated by firms with “benefits” in addition to wages and salaries. The most prominent benefit offered by many firms is health insurance
How much importance should be given to the energy : How much importance should be given to the energy cost situation and what are the project's cash flows for the next twenty years?

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the elasticity of compensated demand

Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand w..

  Optimal combination of inputs

The price of Labor (L) is $50 for each unit and the price of capital (C) is $20 per unit. How much labor and capital should Joy employ to produce 100,000 units? Find out the total cost of production?

  Whether or not to prescribe the drugs for the patients

What would be the advantages and disadvantages of a regulatory system in which , rather than having the FDA merely published its opinions about the safety and efficiency of drugs and the allowed physicians

  Which goods the government would prefer to tax

Using the elasticity estimates in the table above, classify the price elasticity demand as elastic or inelastic. Explain your reasoning. Explain the implications of those classifications on tax revenue collections when the per-unit tax increases a..

  What challenges would face the greek government

What challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?

  How subsidy would achieve socially efficient level of output

If the government wanted to encourage a monopoly to produce the socially efficient quantity, should it use a per-unit tax or a per-unit subsidy. Explain how this tax or subsidy would achieve the socially efficient level of output. Among the variou..

  Find the equation of the new demand curve

Starting with the estimated demand function for Chevrolets given in Problem 2, assume that the average value of the independent variables changes to N=225 million, I =$12,000, P= $10,000 P= 100 cents, A=$250,000 and P=O

  Movement along the demand curve and a shift in demand

Describe the difference between a movement along the demand curve and a shift in demand and determine what factors cause the supply curve to shift? describe each factor.

  Estimate salvage value of the equipment

The depreciation schedule for a machine has been arrived at by several methods. The estimated salvage value of the equipment at the end of its 6-year life is $600. Identify the resulting depreciation.

  Product functions-total-average and marginal product

What is the total product function for Dimex? The average product function? The marginal product function?

  What is meant when a monopoly firm is described

What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?

  What advice can you offer mcburger

How much revenue does McBurger currently earn based on the information above and is McBurger maximizing its revenues

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd