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Alinara [238K]
3 years ago
13

According to one study, the price elasticity of demand for restaurant meals is 2.27. This implies that if restaurants want to in

crease their total revenues they should_______________.
a. decrease price.
b. leave price unchanged.
c. increase price.
d. cannot be determined with the information given.
Business
1 answer:
mixas84 [53]3 years ago
3 0

Answer:

(A) decrease price

Explanation:

Price elasticity is a measure showing how consumers react to the prices of products and services. It is a measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. When the price rises, demand decline and when price declines, demand rises. Also, depending on the product/service and the market, how consumers react to a price change can vary.

Therefore, if restaurants want to increase their total revenues they should decrease their price as that result to rise in demand, and consequently increase in their total revenues.

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Company had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $12 each using the last-in,
Georgia [21]

Answer:

Debited by $400

Explanation:

Calculation for the Cost of Goods Sold

Using this formula

Cost of Goods Sold= Inventory on hand*(Cost-Current replacement cost)

Let plug in the formula

Cost of Goods Sold=200 units * ($12 - $10)

Cost of Goods Sold= 200 units*2

Cost of Goods Sold = $400 Debited

Therefore the Cost of Goods Sold will be:$400 Debited

8 0
3 years ago
Who has access to the source code of proprietary software?
sveta [45]
<span>software publishers,software purchasers,the government  hope that helps</span><span>
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8 0
3 years ago
Read 2 more answers
Peng Company is considering an investment expected to generate an average net income after taxes of $3,300 for three years.
nikdorinn [45]

Answer:

3482.12

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow = net income + depreciation = 16,200 + 3300 = 35,700

($56,100 - $7500) / 3 = 16,200

Cash flow in year 0 = 56,100

cash flow in year 1 and 2 = 35700

cash flow in year 3 = 35,700 + 7500

i = 5%

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3 0
3 years ago
On behalf of your civic organization, you are inviting a motivational speaker to your semiannual meeting. In your request you gu
masha68 [24]

Answer:

indirect benefits

Explanation:

Based on the information provided within the question it seems that both an enthusiastic audience and a positive impact on the community emphasize indirect benefits to the motivational speaker. This refers to benefits that may not be visualized but are still achieved or gained. Enthusiastic audience may or may not be visualized depending on the situation and the speaker's ability to distinguish enthusiasm from other emotions but both that and the positive impact are being guaranteed by the civic organization to achieved by the motivational speaker.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0
2 years ago
When firms in a perfectly competitive market face the same costs, in the long run they must be operating a. under diseconomies o
ella [17]

Answer:

d. where price is equal to average fixed cost.

Explanation:

Firms involved in a perfectly competitive market face the same cost, <em>they will theoretically make zero profit on the long run.</em> This happen at the point where price is equal to average fixed cost.

7 0
3 years ago
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