Use the Following Excerpt from a Campus-Wide Announcement About a Concert

question 91

Multiple Choice

Use the following excerpt from a campus-wide announcement about a concert at the University of West Georgia (UWG) to answer the following questions:
The Band Perry [a Grammy-nominated country music act] will perform live at the University of West Georgia Coliseum on Sunday,April 22,as part of its Purveyors of Performance Tour 2012 ...Prices are $10 in advance or $15 on the day of the show for those with a UWG [Student] ID,and $20 in advance or $25 on the day of the show for the general public.
-Why would the Center for Student Involvement complicate the ticket-pricing scheme by using four different ticket prices?

• A) to see how many students will support an on-campus event
• B) to keep the general public out of the rowdier student section on the concert floor
• C) to separate the concert attendees into distinct groups so that they can maximize profit
• D) to ensure that enough people attend the concert so that they minimize any potential loss
• E) to gauge student interest in case the concert must be canceled and rescheduled to maximize profit

Realize the social and economic implications of sales and excise taxes, including their regressive nature.

Understand how the tax-transfer system affects income distribution.

Gain insights into international comparisons of tax progressivity.

Understand the concept of progressive, regressive, and proportional taxes, and their impact on different income groups.

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Definitions:

Order Size

The quantity of goods a company purchases or produces in a single order to meet its demand while minimizing costs.

Disaster Risk

The likelihood of loss of life, injury, or destruction and damage from a disaster in a given period.

Suppliers

Entities that provide goods or services to another entity, typically within a supply chain, to assist in the production of final products or services.

Expected Monetary Value

A statistical technique in decision-making that calculates the average outcome when the future includes scenarios that may or may not happen.