The director of a college theater company is trying to forecast the demand for tickets to her new play. She hired an economic consulting firm and the economists identified two groups of demanders -- the general non-university public (QPublic) and students (QStudents) and estimated each group's demand relationship: Qgp = 500 - 5P
Qs = 200 - 4p
A. Graph the two demand curves on one graph, with P on the vertical axis and Q on the horizontal axis. If the current price of tickets is $35, identify the quantity demanded by each group.
B. Find the price elasticity of demand for each group at the current price and quantity. Is the director maximizing the revenue he collects from ticket sales by charging $35 for each ticket? Explain.
C. What price should he charge each group if he wants to maximize revenue collected from ticket sales?

What is the sequence of events that could lead to trade surplus

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game.expert answer

The petty cash fund has a current balance of $ 350, which is the established fund balance. based on activity in the fund, it is determined that the balance needs to be changed to $ 450. which journal entry is needed to make this change?