1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Shelley was initially moderately in favor of a proposal to build a city bike path. At a meeting, she learns that not only will t
Gnesinka [82]

Answer:

The appropriate response is "Persuasive arguments".

Explanation:

  • A noninteractional concept or philosophy of community judgment predicting choice results via cognitive or conceptual claims produced by individuals before the debate is determined as Persuasive arguments theory.
  • It doesn't see dialogue as an important element of judgment results, although as a potential mechanism for facilitating communication.

Thus the above is the right answer.

5 0
3 years ago
Irving purchase a car for $5,000 his interest rate is 10% for the year how much will he pay in one year's time​
Anna35 [415]

Answer:

$500

Explanation:

The cost of the car is $5000

the interest is 10% per year

the interest paid in one year time will be

I= p x r x t

p = $5000; r =10% or 0.1 ;and t = 1

I = $5000 x 0.1 x 1

I= $500 x 1

Interest payable in one year is $500

3 0
3 years ago
When required reserves exceed actual reserves, commercial banks will be forced to have borrowers:?
torisob [31]

Repay loans so that the bank can get it reserves back up to the required level

6 0
3 years ago
Sasha works for a large corporation, and sometimes, she finds it difficult to see how she fits into the corporate picture. Howev
FinnZ [79.3K]

Answer:

C. It can boost employee productivity.  

Explanation:

Sasha's company decision to establish an employee stock ownership plan has the potential benefit of boosting employee productivity because staff members and people in general are motivated by rewards.

Employee stock ownership plan is a staff reward scheme where a company's employees are awarded shares of the company they work for, hence they become both staff and shareholders of that company.

Sometimes these plans are futuristic, they are awarded at a certain date in future if the company achieves certain goals. Hence the productivity of employees are boosted in the bid to boost the company's performance and achieve their share rewards

8 0
3 years ago
Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is
Karo-lina-s [1.5K]

Answer:

The answer is E. $24,000

Explanation:

Straight line depreciation method equals

Cost of asset - salvage value / number of years.

Cost of asset is $135,000

Salvage value is $15,000

Number of years is 5 years

$135,000 - $15,000/5 years

$120,000/5 years

=$24,000

Straight line method of depreciation has equal amount all through the year.

The first year through it end life.

Therefore, machines' first year depreciation under the straight-line method is $24,000

6 0
3 years ago
Other questions:
  • What tips should you follow when writing the trip report? Check all that apply.
    14·1 answer
  • What is an indicator of increased economic growth in a nation?
    15·1 answer
  • Louise owned a house next to Robert's house. Robert made a contract with Midcity Painters to paint his house. The painters arriv
    9·1 answer
  • true or false: M-3 is money that people can gain access to quickly and easily to pay for goods and services.
    8·1 answer
  • Which benefit is shared by both Monopolies and Oligopolies?
    9·1 answer
  • When Mandy last got her drive-through order at the fast-food restaurant, she thought the employee who helped her was cold and un
    7·1 answer
  • Driving skills are a basic qualification of
    13·2 answers
  • Descriptive account does not capture all that is involved. (T/F)true or false​
    9·1 answer
  • RAWRRRRRRRRR Whahahaha​
    5·1 answer
  • What are the essential elements for a commodity to be rich in economics.​
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!