Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours. His total cost of operating one tour is fixed at $450. Vincent’s cost is not reduced if he runs a tour with a partially full bus. While his cost is the same for all tours, Vincent uses a pricing practice called price discrimination and charges each passenger his/her willingness to pay: adults $18 per trip, children $10 per trip, and senior citizens $12 per trip. At those rates, on a typical day Vincent’s demand is:

Passenger Type

Willingness to Pay

Demand per day

Adults

$18

70

Children

$10

25

Senior Citizens

$12

55

Assume that Vincent’s customers are always available for the tour; therefore, he can fill his bus for each tour as long as there is sufficient total demand for the day.
What is Vincent’s cost of serving all passengers demanding a tour on a typical day?
What is Vincent’s profit on a typical day?
One of Vincent’s friends tells him he would be more profitable if he charged a single price of $18. Assuming no changes in consumer demand, what would Vincent’s profit be if he charged every customer $18? (3 points)

Answers

Answer 1

Answer:

lmk when you get sumtn bro

Explanation:

i need the answer too

Answer 2

Vincent’s cost of serving all passengers demanding a tour on a typical day is  $1350. Vincent’s profit on a typical day is $820.  Vincent’s profit will be increased he charged every customer $18.

What  is price discrimination?

A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept.

When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to.

The calculation of the profit of the Vincent is done as follows

1.Number of the tour operated by the Vincent on a typical day=

= Adult demand + children demand + senior citizens demand/ Bus capacity

= 70+25+55/50

= 150/50

= 3

Total cost of the tour = $450*3

                                 = $1350

2. Total Revenue on a typical day = Adult demand * willingness to pay+ Children demand* willingness to pay + senior demand * willingness to pay

= 70* $18 + 25* $10+ 55 * $12

= $2170

Profit = total revenue - total cost

       = $2170 - $ 1350

       = $820

If he charged every customer $18 with every customer then his profit will be calculated as follows:-

Total Revenue on particular day = Adult demand * $18 + Children's demand * $18 + senior's demand * $18

= 70 *18+25*18+55*18

= $1260+$450+$990

= $ 2700

Profit = Total Revenue - Total cost

         = $ 2700 - $ 1350

          = $ 1350

Therefore, the profit charged on the price $18 is $1350 which is greater than the previous profit.

Learn more about Price determination here:

https://brainly.com/question/14090451

#SPJ1

                                                 


Related Questions

Devon would like to invest in bonds but he is only familiar with investing in stocks. What is the biggest difference between the two? A. Bonds are generally high risk. B. Bonds are generally short-term investments. C. Bonds have fixed maturity dates. D. Bonds provide constant access to your investment money.

Answers

Answer:

C bonds have fixed maturity dates

As mentioned in the video, the US produces an annual "List of Goods Produced by Child Labor or Forced Labor." How effective do you think this is in raising awareness about working conditions in other countries? Do you think pressure from officials, the media, and the public is the best way to prevent companies from doing business with countries that violate international labor standards, or do you think other methods would be more effective?

Answers

Answer and Explanation:

By publishing the "List of Goods Produced by Child Labor or Forced Labor" the American government is able to raise awareness among the population that, although child labor is something inconceivable in American society, it still happens with great intensity in various places around the world. This allows the population to become aware of this situation and to stop buying products produced by companies that finance and allow child labor to happen. When they stop using these products, companies suffer a decrease in demand, which can cause significant changes in the production and in the lives of children who need to work.

While consumer pressure at companies that allow child labor is effective, pressure from political and commercial authorities is more effective in bringing about change and ensuring the protection of children, as these authorities can promote severe punishments for those who allow this to happen.

2. What are the problems can someone have without personal finance knowledge?

Answers

The lack of financial literacy can lead to a number of pitfalls, such as accumulating unsustainable debt burdens, either through poor spending decisions or a lack of long-term preparation. This in turn can lead to poor credit, bankruptcy, housing foreclosure, or other negative consequences.

Which of the following was not one of Reagan's four major policy objectives during his presidency?

A.reduce government regulation
B. reduce federal income tax and capital gains
C.reduce growth of government spending
D.reduce the rising taxes for middle-class citizens
E.reduce inflation by controlling growth of the money supply to reduce inflation ​

Answers

Answer: D.reduce the rising taxes for middle-class citizens

Explanation:

During the tenure of President Ronald Reegan when he was the president of the United States,he promoted some economic policies which were often referred to as Reaganomics.

These policies include:

A.reduce government regulation

B. reduce federal income tax and capital gains

C.reduce growth of government spending

E.reduce inflation by controlling growth of the money supply to reduce inflation ​

It should be noted that option D "reduce the rising taxes for middle-class citizens" isn't among the policies put forward by Reegan.

Marketing is based on many different relationships between customers, wholesalers and producers, buyers, and sellers. What does the term relationship marketing refer to?

Answers

Marketing refers to the relationship between consumers and business.

Tasha works as an information technologist for a company that has offices in New York, London, and Paris. She is based out of the New York office and uses the web to contact the London and Paris office. Her boss typically wants her to interact with customers and to run training seminars to teach employees new software and processes. Which career pathway would have this type of employee?

Network Systems
Programming and Software Development
Information Support and Services
Interactive Media

Answers

Answer:

network systems i think

Explanation:

Answer:

d: interactive media

Explanation:

does this sentence i wrote make sense:

“Not only this, but as a gateway to contribute to saving the planet.”

Answers

This makes perfect sense

i have a kid named aj he is talking to himself and he is allways yelling can you have me evidence he is from windy hill middle school and i and he is in 7th grade ​

Answers

Answer: puberty.

Explanation: Kids go through puberty :)

Answer:

have you ever tried calming him down? maybe offer something,alot of middle schoolers go through those ''fazes'' they can get stressed from working.and with the talking to himself thing,id probably get maybe a therapist to talk to him get stuff off his chest,

Explanation:

a little bit of what id do :D

Showing your personality can help you...

Decrease the number of dislikes on your videos.

Get more interview requests.

Get more engagement on your channel.

Get set up for live streaming.

Answers

Thanks!!!!!!!!!!!!!!!!

The beginning inventory of SoCal Wholesalers was $121,000, and the ending inventory is $116,500. What entries are needed at the end of the fiscal period to adjust Merchandise Inventory?

Answers

Answer and Explanation:

The journal entries that are required to adjust merchandise inventory is given below:

Income Summary  $121,000

        To Inventory $121,000

 (Being eliminate Beginning inventory balance is recorded)

Inventory $116,500

      To Income Summary $116,500

(Being the cost of ending inventory is recorded)  

These two entries should be recorded for adjusting merchandise inventory

The race to the bottom scenario of global environmental degradation is explained roughly like this:
A. Profit-seeking multinational companies shift their production from countries with strong environmental standards to countries with weak standards, thus reducing their costs and increasing their profits.
B. Companies seek to reduce their costs of operation on plant and equipment design and this results in higher levels of pollution.
C. Companies seek the lowest market prices on products in order to gain market share, resulting in inferior goods and increased waste and pollution.
D. Companies seek to influence environmental legislation standards to the lowest possible standards in the U.S. in order to maximize profits.
Reset Selection

It is sometimes argued that a nation should not depend too heavily on other countries for supplies of certain key products. This argument is commonly known as the:
A. buy-American argument.
B. anti-dumping argument.
C. national interest argument.
D. self-sufficiency argument.

Answers

Answer:

A. Profit-seeking multinational companies shift their production from countries with strong environmental standards to countries with weak standards, thus reducing their costs and increasing their profits.

D. self-sufficiency argument.

Explanation:

In the case when there is a race to the bottom scenario so it would be described that the multinational companies that are profit seeking is shifting their production from that countries who have the strong environmental standards to the weak standard countries so that the order would be decreased due to this the profit would increase

In the other case, when the nation is not too much depend on other countries for supplies so this case we called as self-sufficiency argument as they managed themselves rather depending on another

It costs a company $14 of variable costs and $6 of fixed costs to produce product Z200 that sells for $30. A foreign buyer offers to purchase 3,000 units at $18 each. The seller will incur special shipping costs of $5 per unit. If the special offer is accepted and produced with unused capacity, and none of the fixed costs are affected, then net income will:

Answers

Answer:

the net income would be decreased by $3,000

Explanation:

The computation of the net income is shown below;

Total cost is

= $14 + $5

= $19 per unit

And, the Selling price is $18 per unit

Now

Income = Revenue - Cost

= $18 - $19

= -1 per unit

And, finally

Total Income = 3000 units × (-1)

= -$3000

Hence, the net income would be decreased by $3,000

Hey guys this is for the edmentum unit activity: Earning and Protecting money. Pls help :’)

What are three most common incentives for offering health insurance to employees?

A. It improves employees health and increases productivity.

B. It reduces the cost of office administration.

C. It helps attract and retain high-quality employees.

D. It provides the business a tax advantage.

E. It increases the business chance of overcoming competition.

Answers

Answer:

Explanation:

I think it's a,b and e

Hope it helps

Bloom’s Taxonomy is important because it provides awareness that each of us has the potential to recognize the levels of thought needed to process topics.



True


False

Answers

Answer:

True

Explanation:

Bloom's Taxonomy is significant because it raises awareness that each of us can understand the levels of thought required to analyze various topics. Thus, the given statement is true.

What is Bloom's Taxonomy?

The classification system known as Bloom's taxonomy defines and classifies the various stages of thinking, learning, and comprehending in humans.

A collection of three hierarchical models known as Bloom's taxonomy is used to categorize educational learning objectives into levels of complexity and specificity. The three lists cover the learning objectives for the cognitive, emotional, and psychomotor domains.

Bloom's taxonomy was created to give teachers a common vocabulary to discuss and exchange teaching and evaluation strategies. Although the taxonomy can be used to identify specific learning objectives, it is most typically used to assess learning at different cognitive levels.

Learn more about Bloom's Taxonomy here:

https://brainly.com/question/30764472

#SPJ2

How is price determined?how​

Answers

The price of a product is determined by the law of supply and demand. Consumers have a desire to acquire a product, and producers manufacture a supply to meet this demand. The equilibrium market price of a good is the price at which quantity supplied equals quantity demanded.

A line of credit can be either a formal or an informal agreement between a borrower and a bank regarding the maximum amount of credit the bank will extend to the borrower during some future period, assuming the borrower maintains its financial strength.A. True
B. False

Answers

The answer would be A, or true.

This table shows the balance in an account if monthly deposits of $10 were compounded monthly.

Annual
Interest
Value at end of:
5 years
10 years
15 years
20 years
0%
$600
$1,200
$1,800
$2,000
2%
$630
$1,327
$2,097
$2,948
4%
$663
$1,472
$2,461
$3,668
6%
$698
$1,639
$2,908
$4,620

Suppose you plan to save $10 each month, as indicated in the table. You can either deposit it into a savings account at 6% interest or you can put it under your mattress for safekeeping. How much more money will you have at the end of 5 years if you choose the savings account instead of your mattress?
a.
$698
c.
$98
b.
$439
d.
$600

Answers

Answer:

Explanation:

b i think, if im wrong, then i apologize

Marlon intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon should not hire another broker to sell that piece of land till the expiry of the contract period. Nita finds a suitable buyer, makes the sale in time, and is paid by Marlon for her services.
Which of the following types of agency had Marlon and Nita entered into?
A) apparent agency
B) agency by ratification
C) implied agency
D) express agency

Answers

Answer:

D) express agency

Explanation:

From the question, we are informed about Marlon who intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon should not hire another broker to sell that piece of land till the expiry of the contract period. Nita finds a suitable buyer, makes the sale in time, and is paid by Marlon for her services. In this case, the types of agency had Marlon and Nita entered into is express agency. Express agency can be regarded as an agency that is been set up through an oral or a written agreement that exist between agent and principal. This gives indication of their express intent as regards this representational status. In this agency, the written or spoken words of the principal is used in authorizing the agent so that he can to act on behalf of the principal. An agency can be regarded as contract which could be express or implied.

Which descriptions are examples of Facility and Mobile Equipment Maintenance workers?
Check all that apply.
(there’s probably around 3)


Jonathan tests and fixes systems for helicopters.

Angel analyzes ways to improve the flow of traffic.

Sarah cleans and services diesel engines for boats.

Damon loads cargo into ships.
Ariel repairs bicycles for customers.

Heather takes passengers to destinations in a taxi.

Answers

Answer:

1)Jonathan tests and fixes systems for helicopters.

3)Sarah cleans and services diesel engines for boats.

5)Ariel repairs bicycles for customers.

Explanation:

I just put these answers on edge and got them right :)

Answer:

1,3,and 5

Explanation:

A new company can offer stocks in an initial public offering (IPO) before the company has proven itself capable of generating long-term profits for its stockholders. If the company seems likely to generate profits, the stock price in the IPO will rise; if the company seems less likely to generate profits, the stock price in the IPO will fall. Today business analysts announced that the Tenon Corporation has turned a profit in the financial quarter just completed. Therefore, stock prices for the Tenon Corporation's IPO, which is planned for next week, will rise.

Which of the following, if true, most weakens the argument above?

A. Companies that do not have profitable quarters are not profitable in the long run.
B. Stock price predictions for the Tenon Corporation's IPO have varied markedly over the last several months.
C. The last financial quarter has proven profitable for numerous other companies in addition to the Tenon Corporation.
D. Industry experts announced today that the raw materials from which the Tenon Corporation manufactures its products will become prohibitively expensive within the next month.
E. Most people who purchase stocks in an IPO decline to attend stockholders' meetings of the companies in which they own stock.

Answers

Answer: D. Industry experts announced today that the raw materials from which the Tenon Corporation manufactures its products will become prohibitively expensive within the next month.

Explanation:

Costs eat into the profits of a company because the higher the costs of producing something, the less profit can be made after the costs are covered.

If there is a situation therefore, where the raw materials that Tenton relies on becomes more expensive, it is definitely going to affect their profitability because they will incur a higher cost to produce.

This will reduce their future profitability which would mean that Tenton becomes less likely to generate a certain level of profit in future thereby weakening their stock according to the logic above.

Suppose you purchased 70 shares of Unix Stock on Day 1 at the closing price. What is the return on your investment, if you sold on Day 5 at at the closing price?

19.31%

4.94%

37.03%

20.53%

Answers

Answer: 19.31%

Explanation:

Direct Recruitment is a direct mail marketing firm that sends out handwritten birthday cards to clients and associates every year. This simple, personal touch helps clients feel like Direct Recruitment cares about them as people rather than simply consumers. This is an example of _______, a sales practice that involves building, maintaining, and enhancing interactions with customers to develop long-term satisfaction through mutually beneficial partnerships.

Answers

Answer:

relationship selling

Explanation:

From the question we are informed

Direct Recruitment which is a direct mail marketing firm that sends out handwritten birthday cards to clients and associates every year. This simple, personal touch helps clients feel like Direct Recruitment cares about them as people rather than simply consumers. This case is an example of relationship selling, a sales practice that involves building, maintaining, and enhancing interactions with customers to develop long-term satisfaction through mutually beneficial partnerships. Relationship selling can be regarded as technique that focus on building a connection with customers as well as potential buyers in order to close sales. Using this techniques, salesperson set his/her focus on the interaction that exist between him and the customers, instead of making use of price or other details in selling the products/ services.

Kenton is considering the costs of becoming a makeup artist. He talks to several makeup artists and finds out that a cosmetology school education is required. He also finds out that makeup artists have to work with demanding clients and that it is difficult to find consistent work. Evaluate Kenton's research on the costs associated with becoming a makeup artist.
A.
Excellent; he has researched all monetary and non-monetary costs of the career.
B.
Good; there are only a couple other monetary costs that Kenton should research.
C.
Poor; he has only researched monetary costs of the career.
D.
Unacceptable; he has only researched benefits of the career.

Answers

Answer:

The best evaluation for Kenton's research is C) Poor; he has only researched the monetary costs of the career.

Explanation:

Besides monetary costs to him (which was not all that comprehensive as it didn't include training tools, books, etc) there are also non-monetary costs such as time, hard work, and all the other things he must forego while he is focused on becoming a make-up artist.

The career also comes with its perks and advantages. Kenton's work would have been comprehensive if he researched the benefits as well as the risks, and regulatory requirements where there are any.

Cheers

The sector tends to be the biggest sector in developed economies.

Answers

Answer:

Tertiary economic sector.

Explanation:

In economics, the tertiary economic sector is the one in which, after the extraction of raw materials and the production of goods, said goods or the services associated with said goods are traded in the market. Thus, the tertiary sector mainly encompasses retail marketing and the provision of services, such as banking, tourism or health benefits, among many others. It is, in short, the sector in which the goods produced enter the market, giving them an added value for its usefulness.

Cost-push inflation is caused by
increasing input prices. Which of the
following would NOT contribute to
increasing input prices?
A. expansionary monetary policy
B. a sharp decrease in the supply of oil
C. a sudden decrease in access to coal

Answers

A would be the answer since both of those would increase pricing do to the lack of amount there would be

evaluate three ways in which employment will minimize emotional stress

Answers

Answer:

Employment allows you to provide for yourself and your family. With employment, you are likely to have your basic necessities covered, like food, utilities and housing.

Employment makes you feel useful in some way, makes you feel as a contributing member of society, a feeling that helps you increase your feelings of self-worth.

Finally, employment helps you plan ahead for the future. If the employment pays well, or if you manage to spend less than you earn, employment allows you to save money, which is the first step in building a personal equity.

The ways in which employment minimizes emotional stress include:

An employment provides a means of socialisation. This would reduce isolation. An employment is a source of income. This allows people to be able to afford luxuries that would reduce emotional stress. Employment reduces idleness.

What is employment?

Employment refers to when members of the labor force have a job for which they receive some form of compensation.

Which list includes the most important factors to consider when opening a savings account?

Answers

Answer: a. The fees, the interest rates, and the minimum deposit to open the account.

Explanation:

It is important that when opening a savings account, one looks at the financial requirements as well as the gain to them.

They should look at how much they are to pay to maintain the account in terms of bank fees to know if it is an unreasonable figure.

They should look at the interest rates to find out how much their money would increase by. If it isn't high enough, they can leave it.

They should also look at the minimum deposit required so that they are sure of the amount to put in to activate the account.

Indicate how each of the following transactions affects US exports, imports, and net exports.

Transaction
Effect On...

U.S. Exports U.S. Imports U.S. Net Exports
A British scholar spends a year at Harvard University as a visiting scholar.
Your parents go on a trip to Japan in late March for the Cherry Blossom season.
A Canadian buys a new Ford.
The student bookstore at Yale University sells books published by Cambridge University Press.
A European family goes to Disney World in Florida for vacation.

Choice for the table are: increase, decrease, or unchanged

Answers

Answer: See explanation

Explanation:

Exports are the goods and the services that a particular country produces and sells to other countries.

Imports are the goods produced in other countries and sold to ones country.

Net export is the difference between the export an import. An increase in export leads to a rise in the net export.

Based on the above explanation, the answer to the question will be:

1. A British scholar spends a year at Harvard University as a visiting scholar.

US exports - Increase

Imports - Unchanged

Net exports - Increase

2. Your parents go on a trip to Japan in late March for the Cherry Blossom season.

US exports - Unchanged

Imports - Increase

Net exports - Decrease

3. A Canadian buys a new Ford.

US exports - Increase

Imports - Unhanged

Net exports - Increase

4. The student bookstore at Yale University sells books published by Cambridge University Press.

US exports - Unchanged

Imports - Increase

Net exports - Decrease

5. A European family goes to Disney World in Florida for vacation.

US exports - Increase

Imports - Unhanged

Net exports - Increase

a ___ organization is one that provides a service or good for the benefit of mankind​

Answers

Answer:

public

Explanation:

as they do not aim to make profit compared to public sector. They aim to increase the social welfare of the country.

What is the minimum value of the box-and-whisker plot?

Answers

Answer:

A;36

Explanation:

So lets recall the different parts of a box and whisker plot.

The dot at the very right end of it is the maximum, where the largest number is.

After that, the box to the right is the upper quartile.

On the left, the box on the left is the lower quartile.

In between the right and left of the box is the median, which seperates the upper quartile by the lower quartile.

Finally, we have the dot farthest to the left, which is the minimum.

So on our box and whisker chart, lets look at the dot farthest to our left, since thats the minimum.

This should be 36.

Hope this helps! ;)

Other Questions
Por qu somos seres de relacin. rapido por fa Kathy earns $445 a week for 40 hours of work and $25 an hour for each hour over 40. How many hours did Kathy work if she earned $570 in one week? PLEASE HELP ME!!!What impact has foreign trade had on United States small businesses? What are war heroes and what effect do they have on people like us? energy level of diagram what are 10 examples of supernatural in the black cat THIS IS 7TH GRADE MATH SO ITS EASY What is the value of for this aqueous reaction at 298 K? A+BC+DG=12.86 kJ/molK= Suppose f(x)=x^2 what is the graph of g(x)=f(2x) Pleaseeeee help ill give brainliest answer if you knowww dont answer if u dont know and please dont try and give me a virussss What is the Underground water Convection currents in the atmosphere influence many weather patterns. What property of the air has the most influence on convection currents?A.the direction of the windB.the velocity of the windC.the temperature of the airD.the mass of the air PWEASE HELP ME PLEASE PLEASE PLEASE HELP MEEEEEEEEEEEEEEEEEEEEEEE I need help one please 2. In which set of ordered pairs is y a function of x?A. {(1, 3), (2, 3), (3, 3), (4,3)}B. {(0, 2), (2, 5), (0, 4), (1,5)}c. {(1, 5), (2, 6), (4,8), (1,4)}D. {(1, 3), (2, 5), (2, 7), (3,5)} If f(x) = 3x + 5, find f(2).f(2) = ? if The ratio of boys to girls in the class was 3 to 2 If there were 12 girls, how many boys were there? Estimate the sum 7.36 + 9.47 i am marking brainlest. Which statement best describes how the Mayflower Compact influenced 3 pointsAmerican independence?*OA. It described how the colonies could break free from British rule.B. It established the idea of self-government in the American colonies.C. It explained reasons the colonies should break free from British rule.D. It gave the American colonists a model for protecting individual rights. Use details from the text to explain the Counterpoint authors response to the issue of Bullying in Schools. Cite the Counterpoint authors main claim and one reason why the author makes this claim. What evidence does the author use to support this position?