EJH Cinemas, a movie theater next to your university, attracts two types of customers: those who are associated with the university (students, faculty, and staff) and locals who live in the surrounding area. There are 10,000 university customers interested in purchasing movie tickets from EJH Cinemas, with a maximum willingness to pay of $7 per ticket. There are 20,000 local customers interested in purchasing tickets, with a maximum willingness to pay of $9 per ticket. The movie theater incurs a constant marginal cost of $4 per ticket. For simplicity, assume each customer purchases, at most, one ticket.
a. What will be the amount of EJH Cinemas’ total revenue if the price is $7 per ticket?
b. What is the amount of consumer surplus if the price is $7 per ticket?
c. What will be the amount of EJH Cinemas’ total revenue if the price is $9 per ticket?
d. What is the amount of consumer surplus if the price is $9 per ticket?
e. If EJH Cinemas decides to practice price discrimination, charging $9 for a standard ticket available to everyone but only $7 for a ticket if you show your university identification (students, faculty, and staff), what will be the movie theater’s total revenue?
f. If EJH Cinemas decides to practice price discrimination, charging $9 for a standard ticket available to everyone but only $7 for a ticket if you show your university identification (students, faculty, and staff), what will be the amount of consumer surplus?
g. If you were in charge of EJH Cinemas, what pricing scheme should you use?
please show the solution.
In: Economics
Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 16,500 students are enrolled on campus; however, the admissions office is forecasting a 8 percent growth in the student body despite a tuition hike to $85 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:
WSU is planning to award 200 tuition-free scholarships.
The average class has 20 students, and the typical student takes 15 credit hours each semester. Each class is three credit hours.
WSU’s faculty members are evaluated on the basis of teaching, research, and university and community service. Each faculty member teaches five classes during the academic year.
Required:
Prepare a tuition revenue budget for the upcoming academic year.
Determine the number of faculty members needed to cover classes.
Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.
You have been requested by the university’s administrative vice president (AVP) to construct budgets for other areas of operation (e.g., the library, grounds, dormitories, and maintenance). The AVP noted: “The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver—without them we don’t operate.” Are faculty members a key driver in preparing budgets?
In: Accounting
A university has implemented a new enrollment system. The scenario below outlines the steps to enroll a new student in the university. Perform a system analysis based on the scenario and respond to the questions below. Note-some requirements might not be explicitly stated in the scenario. List all assumptions used for this analysis.
Scenario: Enroll new student in the University
In: Operations Management
Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 12,000 students are enrolled on campus; however, the admissions office is forecasting a 7 percent growth in the student body despite a tuition hike to $80 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:
Required:
1. Prepare a tuition revenue budget for the
upcoming academic year.
2. Determine the number of faculty members needed
to cover classes.
3. Assume there is a shortage of full-time faculty
members. Select at least five actions that WSU might take to
accommodate the growing student body by selecting an "X" next to
the action.
4. You have been requested by the university’s
administrative vice president (AVP) to construct budgets for other
areas of operation (e.g., the library, grounds, dormitories, and
maintenance). The AVP noted: “The most important resource of the
university is its faculty. Now that you know the number of faculty
needed, you can prepare the other budgets. Faculty members are
indeed the key driver—without them we don’t operate.” Are faculty
members a key driver in preparing budgets?
In: Accounting
Signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements.
Format your assignment to APA standards.
Submit your assignment to the Assignment Files tab as a Microsoft® Word document.
Identify a specific job within a specific company that you might be interested in applying for after you graduate from the University of Phoenix.
Research the job and the field in general, as well as ethical issues managerial accountants have faced that would pertain to that field. Also, educate yourself on the basics of operations within the job and company you have selected.
Write a 700- to 1,050-word paper to include the following:
In: Accounting
signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements.
Format your assignment to APA standards.
Submit your assignment to the Assignment Files tab as a Microsoft® Word document.
Identify a specific job within a specific company that you might be interested in applying for after you graduate from the University of Phoenix.
Research the job and the field in general, as well as ethical issues managerial accountants have faced that would pertain to that field. Also, educate yourself on the basics of operations within the job and company you have selected.
Write a 700- to 1,050-word paper to include the following:
In: Accounting
One source of growth is external growth from a merger or acquisition. Often mergers or acquisitions are justified on the basis of the expected benefits from "synergies" created by the merger or acquisition. Economists know these as economies of scale and economies of scope.
The focus of this discussion will be on defining economies of scale and economies of scope, as well as the key differences between the two within the context of a hypothetical scenario of your choice.
Instructions
Select one of the mergers and acquisitions below:
For your chosen scenario, address the following in your discussion post:
In: Economics
Context
One source of growth is external growth from a merger or acquisition. Often mergers or acquisitions are justified on the basis of the expected benefits from "synergies" created by the merger or acquisition. Economists know these as economies of scale and economies of scope.
The focus of this discussion will be on defining economies of scale and economies of scope, as well as the key differences between the two within the context of a hypothetical scenario of your choice.
Instructions
Select one of the mergers and acquisitions below:
For your chosen scenario, address the following in your discussion post:
In: Economics
One source of growth is external growth from a merger or acquisition. Often mergers or acquisitions are justified on the basis of the expected benefits from "synergies" created by the merger or acquisition. Economists know these as economies of scale and economies of scope.
The focus of this discussion will be on defining economies of scale and economies of scope, as well as the key differences between the two within the context of a hypothetical scenario of your choice.
Instructions
Select one of the mergers and acquisitions below:
For your chosen scenario, address the following in your discussion post:
In: Economics
In: Operations Management