The Diagram Below Shows Supply,demand,and Quantity Exchanged of Monday Matinee

question 15

Multiple Choice

The diagram below shows supply,demand,and quantity exchanged of Monday matinee movie tickets.Assume it is a perfectly competitive market. FIGURE 12-4
-Refer to Figure 12-4.If a disequilibrium price of $7.50 per movie ticket were imposed on this market,this market would not be allocatively efficient because 1) the sum of consumer and producer surplus would not be maximized;
2) the marginal benefit to consumers of the last movie consumed would be greater than the marginal cost to the seller;
3) the marginal cost to the seller of the last movie consumed would be more than the marginal benefit to consumers.

• A)1 only
• B)2 only
• C)3 only
• D)1 and 2
• E)2 and 3

Identify the legal implications and outcomes of conditional and unconditional contracts.

Recognize the processes and effects of tender and performance in contract law.

Understand the role and impact of breaches in contracts, including material and immaterial breaches.

Grasp the concept of discharge by performance and how contracts can be terminated or fulfilled through various means.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, often derived from the company's profits.

Stock Premium

The amount by which the selling price of a share exceeds its par value, also known as share premium.

Other Income

Revenues earned from activities that are not related to a company's primary business operations.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit or loss over a specific time period.