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
Scorpion4ik [409]
3 years ago
8

Suppose the elasticity of demand for your parking lot spaces, which are located in a downtown business district, is –1.8, and th

e price of parking is $7 per day. Additionally, suppose that your MC is zero, and your capacity has been 80% full at 9 AM each day over the last month. Since demand is______, and the lot is below capacity,________is the optimal pricing strategy.
Business
1 answer:
LekaFEV [45]3 years ago
4 0

Answer:

ELASTIC

DECREASING PRICE

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

The demand for your parking lot spaces is elastic. if the price of parking is reduced, the demand for parking would rise

You might be interested in
Collins, Inc. issued a nontaxable stock dividend of one share for each share owned. Melissa, a shareholder of Collins, had a tot
DiKsa [7]

Answer:

$5,000

Explanation:

Based on the information given we were told that had a total basis in her 500 shares of stock of the amount of $5,000 which means that The total basis of Melissa's 1,000 shares of stock after the dividend is $5,000 which is her total basis in her 500 shares of stock.

7 0
3 years ago
Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________
Hatshy [7]

This is perceived value, making the check ups free increases the value.

5 0
3 years ago
Hungry lunch has net income of $73,402, a price-earnings ratio of 13.7, and earnings per share of $.43. How many shares of stock
kati45 [8]

Answer: The number of shares outstanding is approximately 170702.32 shares.

We have :

EPS                       $0.43

Net Income       $73,402

The formula for computing EPS is

EPS = \frac{Net Income}{Number of shares outstanding}

Substituting the values from the question in the formula above we get,

Number of shares outstanding = \frac{73402}{0.43}

Number of shares outstanding = 170702.3256

7 0
3 years ago
Read 2 more answers
Defining leadership as a ______ means that it is not a trait or characteristic that resides in the leader, but rather a transact
alex41 [277]

Answer:

Process.

Explanation:

Defining leadership as a process means that it is not a trait or characteristic that resides in the leader, but rather a transactional event that occurs between the leader and the followers.

This ultimately implies that, beyond an individual possessing the traits or qualities of a leader, leadership in itself is a process that revolves around the activities or happenings between the leader and those who he or she is leading, which are the followers.

<em>Hence, leadership is simply a continuous process. </em>

3 0
3 years ago
the tendency of naive investors to buy high (after prices have risen for several periods) and sell low (after prices have droppe
Dominik [7]

The tendency of naive investors to buy high (after prices have risen for several periods) and sell low (after prices have dropped for several periods) can be explained by the behavioral tendency known as anchoring.

<h3>What does anchoring in purchasing behavior mean?</h3>

A behavioral finance heuristic known as "anchoring" refers to the unconscious use of unimportant information, such as the price at which a security was purchased, as a fixed reference point (or "anchor") for making decisions about that security in the future.

The cognitive bias known as "anchoring" occurs when the mere existence of an initial number has an outsized impact on later decision-making. The TV's exorbitant cost acts as an anchor that encourages buyers to spend more money than they intend to. By announcing a lower price after stating a price, the anchoring effect in making purchase decision is activated. Customers will view the higher price as being more comparable to the original, lower price than the alternative prices being provided.

To learn more about purchase decision, visit:

brainly.com/question/26517026

#SPJ1

4 0
1 year ago
Other questions:
  • Carlisle Company has been cited and must invest in equipment to reduce stack emissions or face EPA fines of $18,500 per year. An
    14·1 answer
  • Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase
    15·1 answer
  • Dimitri has several apple trees in his yard, and apples are a perfectly competitive market with a price of $2 per pound. if dimi
    11·1 answer
  • LO 7.2What operating budget exists for manufacturing but not for a retail company?
    13·1 answer
  • MySchool Notebook Company uses 100,000 pounds of plastic pellets per year in the production of their custom 3-ring school binder
    6·1 answer
  • When conducting a SWOT analysis, information about turnover, profit margins, and staff quality can be used to identify:
    5·1 answer
  • Which of these statements about liquidity traps is false? Firms are unlikely to undertake investment during liquidity traps beca
    14·1 answer
  • Tom Lewis, an individual taxpayer, performs services for the Red Cross at an out-of-town location for three weekends during the
    9·1 answer
  • Bilbo signs a lease agreement for an apartment with Cato, who owns and manages the Deer Creek Apartments complex. These parties
    6·1 answer
  • Assuming the issuer does not default, can capital gains or losses be a component of the holding period return on a zero-coupon b
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!