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Nostrana [21]
3 years ago
15

If consumers view cappuccinos and lattés as substitutes, what would happen to the equilibrium price and quantity of lattés if th

e price of cappuccinos falls?
Business
1 answer:
Mice21 [21]3 years ago
8 0

Answer:

Equilibrium price and quantity would fall

Explanation:

Substituite goods are goods that can be consumed in place of each other. If the price of a good increases, consumers can easily subsituite to the other good.

If cappuccinos and lattés are subsituites, if the price of cappuccinos falls, the demand for cappuccinos would increase and the demand for lattes would fall because lattes are now relatively more expensive than cappuccinos.

The fall in demand leads to a fall in quantity demanded and price.

I hope my answer helps you.

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Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follo
hammer [34]

Answer:

See below

Explanation:

Activity rate = Overhead costs/Estimated driver

Customer service : 175 per serv. req.

Project bidding : 400 per bid

Engineering support : 750 per design change

Activity costs allocated = Activity rate × Driver consumed

Activity costs

Gough industries. 39,800

Been inc. 47,150

The Martin group. 139,300

Artic Air inc.

Customer profitability report for the year ended, December 31

Gough industries Been inc. Martin Grou

Revenues

1,800,000 960,000 240,000

Cost of goods sold

840,000 448,000 112,000

Gross profit

960,000 512,000 128,000

Selling and administrative activities:

Customer service

6,300 4,900 20,300

Project bidding

20,000 16,000 38,000

Engineering support

13,500 26,250 81,000

Total selling and administrative support

39,800 47,150 139,300

Operating income(loss)

920,200 464,850 (11,300)

3 0
3 years ago
In the promotion element of the marketing mix, there are four main areas. Personal selling is direct spoken communication betwee
MAVERICK [17]

Answer: advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.

Explanation: Sales promotion are promotional activities used to stimulate consumers into purchasing a certain product. Sales promotion usually takes the form of giving discounted prices to customers, giving out extra incentive or gift items, freebies, voucher cards, coupon and other promotional offers which gives consumers extra material benefit when they purchase an item. Promotional offers are usually made during certain periods such as festive seasons, company anniversary or occasionally in other to drive sales or to wow customers.

7 0
3 years ago
Read 2 more answers
Jorge has $300 for work he performed. he expects to spend the money in the next few weeks to buy a new bike. which type of accou
Ber [7]

The best type of account for Jorge, who has $300 for work he performed and expects to spend the money in the next few weeks to buy a new bike is checking account. A checking account is useful for money that you will be spending soon, like in Jorge's case. Checking account can be accessed using checks, automated teller machines and electronic debits.

5 0
3 years ago
Read 2 more answers
_____ is the act of negotiating with employers regarding employment issues by employees who are members of a union.
jek_recluse [69]

Answer:

Collective bargaining

Explanation:

Collective bargaining is the process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment, including pay, benefits, hours, leave, job health and safety policies, ways to balance work and family, and more.

3 0
2 years ago
Subjective performance evaluations are subject to several rater errors, which makes objective measures seem a better alternative
Mandarinka [93]

Answer:

A Subjective performance evaluation is more feasible when evaluating jobs that cannot easily be evaluated by numbers, in finding problems such as ethical errors that objective evaluation cannot identify and in identifying the rate of achievement of work goals that cannot be recorded in an objective evaluation.

Explanation:

Though Objective evaluation has been the more favored form of evaluation for valid reasons, there are still situations where subjective performance evaluation does a better job in the workplace.

Some jobs for example, the job of an attorney, cannot easily be objectively evaluated. In this situation, it falls on the employer to evaluate the performance of the employee by using measurements like team play, professionalism and client service.

In objective analysis, some ethical approaches are overlooked and the achievement of the set goal is the major criterion for ratings. This affords employees the opportunity to use unethical means to achieve set targets and the objective performance evaluation skips it, leaving them safe and with high ratings. In subjective performance ratings however, the employer having the power to rate employers, could expose these unethical behaviors faster and actions, taken on them.

In the workplace, certain goals are set in overall goals, as a method to achieving the overall set target. In an objective performance rating, an employee could bypass these and still appear to have achieved the overall goal. An objective evaluation will miss this but a subjective evaluation could pick this out and make rating each employee based on these soft goals and overall goal achievable.

3 0
3 years ago
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