A country club usually only allows members to attend the 4th of July party, but the country club is considering allowing non-members to attend. The demand and supply schedules are as follows: Price Quantity Demanded by members Quantity Demanded by Non-members Quantity Supplied
$10 1000 500 600
$15 800 400 600
$20 600 300 600
$25 400 200 600
$30 200 100 600

If both members and non-members are allowed to purchase tickets to this year's celebrity golf tournament and the country club sets the ticket price at $20, then there will be:

a. a shortage of 300 tickets.
b. a surplus of 300 tickets.
c. 600 tickets sold.
d. 600 tickets unsold.

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?