Solution:
Let's start by assuming that the taxi ride demand is extremely elastic, to the extent that it is vertically sluggish! If the cabbies raise the fair price by 10% from 10.00 per mile to 11.00 per kilometre, the number of riders remains 20.
Total income before fair growth= 20* 10= 200.
Total income following fair growth = 11* 20= 220.
A 10% increase in the fare therefore leads to a 10% increase in the driver's revenue.
Therefore, the assumption in this situation is that the cab drivers think the taxi driving requirement is highly inelastic.
The demand curve facing the drivers of the cab is still inelastic, but not vertically bent.
When the rate increased from 10% to 11, riders declined from 20% to 19%
Total revenue before fair growth is 20* 10= 200
The gap between revenue and fair growth is 19* 11= 209
This means that a realistic 10% raise doesn't result in a 10% boost on income Because the market curve for taxi rides is not 100% inelastic, but rather low inelastic, so that a fair increase (control) allows consumers to lose their incomes.
Answer:
Franchising
Explanation:
Since Marianna wants to open additional locations, but she doesn't have a lot of start-up capital, the consolidation strategy for fragmented industries that she could utilize is franchising
Franchising is a business expansion model and marketing concept which can be adopted by an organization that does not have to put down additional capital for expansion.
The expanding firm (a franchisor) only needs to license its know-how, procedures, intellectual property, and the use of its business model, brand, and rights to sell its branded products and services to a franchisee.
The franchisee is the party to bring the capital for the expansion.
Much explains why most restaurants use this same strategy, e.g. KFC, Subway and McDonald's;
Answer:
The correct answer is B. benchmarking.
Explanation:
Benchmarking is a continuous process by which the products, services or work processes of leading companies are taken as a reference, to compare them with those of your own company and then make improvements and implement them.
It is not about copying what your competition is doing, but learning what leaders are doing to implement it in your company by adding improvements. If we take as a reference those who stand out in the area we want to improve and study their strategies, methods and techniques for post
Sally needs to deliver customer sales data to multiple departments in real-time by using customizable reports.
<h3>What do you mean by accounting?</h3>
Accounting is a means of collecting, summarizing, analyzing, and reporting business information in monetary terms.
As sally needs to deliver the customer sales data to multiple departments in real-time, customizable reports can be helpful in this case.
A customizable report is a type of report that is created and metrics and dimensions should be added and it will display in the way.
Therefore, OB is the correct option.
Learn more about accounting here:
brainly.com/question/5399294
#SPJ1
Answer:
It takes a share in the profits that are derived from the investment.
Explanation:
The Mudarabah banking system is a financial concept that is structured on partnership, wherein one partner is the financier (rabbulma) while the other partner is responsible for the supply of labor and skills (mudarib) for the management of the capital invested in the business. Consequently, the factors of production in this system are, labor, capital and entrepreneurship.
The Mudarabah is of two types:
1. Restricted mudarabah: if the financier states a particular business for which the capital is to be invested in.
2. Unrestricted mudarabah: if the financier permits the fund manager or entrepreneur (mudarib) to invest the capital in any business of choice.
Under the mudarabah banking system, when an Islamic bank lends money to a business, it takes a share in the profits that are derived from the investment for a specific period of time.
Hence, it's a banking system peculiar to the Islamic world and the contractual partners shares profit and loss based on a pre-defined and agreed ratio.
