Peter has just moved out of home and he is searching on Monash Marketplace for some second-hand furniture. He came across Alex selling some wardrobes which he really needs for his new place. Alex's target point is $300 for the wardrobes, and Alex's resistance point is $94, as he needs $59 dollars to pay his phone bill, and $35 to buy food for the week. Peter recently sold his motorbike helmet for $142, and his aunt gave him $50 for his birthday. Peter also needs to purchase a shoe rack which costs $12 at Kmart. Therefore, the absolute most Peter can pay for the wardrobes is $180.What is Peter's resistance point ?  Question 1Select one:$300$180$142$192

Alex and Peter are hoping to negotiate the sale of the wardrobes. Considering the following: Alex's target point is $300, and his resistance point is $94.Peter's target point is $120, and his resistance point is $180.What is the bargaining zone? Question 2Select one:$180 (The difference between Peter and Alex's target points)$206 (Alex's target point minus Alex's resistance point)$86 (The difference between Peter and Alex's resistance points)$300 (Alex's target point)

Suppose Gail is willing to pay $89 for a new pair of shoes and Karen is willing to pay $60. What is the gain in total consumer surplus if the price of the shoes falls from $70 to $50?Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.a$10b$19c$29d$30

Say Sally's Super Shoes has total revenues of $20,000, explicit costs of $15,000, and implicit costs of $5,000. Sally should:A.be happy to know she's earning a normal profit and stay in business.B.find another job; she's earning an economic profit of zero.C.tell her accountant her accounting profit is zero.D.be happy; her economic profit is $15,000.E.watch out for new competitors who will start selling shoes, attracted by her economic profit.

Tabitha’s Trendy T-shirts is a local clothing seller in a small town. The business sells shirts at its main store in town and in a local museum gift shop. Tabitha’s knows that local residents typically shop in the main store, while tourists from out of town are most likely to shop at the museum gift shop.The demand for shirts in the two locations is given by the table below:PricePer UnitQuantity Demanded(Main Store)Quantity Demanded(Gift Shop)$49.501$4412$38.523$3344$27.585$22146$16.5227$11338 Suppose that Tabitha's has not fixed costs and can produce produce and sell shirts in either location at a marginal cost of $13.75.Note: Do not include a "$" in your answers.If Tabitha's must charge the same price for all of its shirts, how much should it charge to maximise its profits?Answer for part 1What would Tabitha's profits from selling shirts in this scenario?Answer for part 2If Tabitha's can charge different prices in different locations, how much should it charge for shirts in its main store?

James buys an antique watch for £125 and then sells it for £182.50.Work out his percentage profit.