Joe decided to start washing cars on his street. The other kids in the neighborhood noticed Joe was making a lot of money washing cars and decided to open their own car wash. When they opened their own car wash, the equilibrium price decreased and the equilibrium quantity increased.
The price at which the quantity provided and demanded are equal is referred to as the equilibrium price. It is established by where the demand and supply curves cross. If more goods or services are produced than are needed to satisfy demand at the going rate, there is a surplus, which pushes prices lower.
Reduced demand will result in a drop in the equilibrium price and a reduction in supply. With everything else remaining constant, an increase in supply will result in a decrease in the equilibrium price and an increase in the amount required. The equilibrium price will increase as the supply declines, while the quantity needed will go down.
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Where its triangle which takes into account a basic design like economic structure etc....
Answer:
$2080
Explanation:
Given: Cost of generator= $11000.
Residual value= $1000.
Estimated life of generator= 5000 hours.
Actual activity performed during the period= 1040 hours.
Now, finding the depreciation expense for the first year using the units-of-activity method.
Formula; 
⇒ Depreciation expense= 
Opening parenthesis
⇒ Depreciation expense= 
⇒ Depreciation expense= 
Hence, the depreciation expense for the first year using the units-of-activity method of depreciation is $2080.
Answer:
B.
Penetration pricing
Explanation:
Penetration pricing is a strategy that is used by new companies in a market to capture market share from more established competitors. The process is for the new company to charge a lesser price than the amount that the other companies are charging which will bring people to the new firm for patronage.
It will thus capture market share and due to the high demand, be able to make profits due to Economies of Scale.
By charging less than its competitors, the new bar's owner is most likely pursuing a Penetration Strategy.
Answer:
<u>Customer excellence</u>
Explanation:
Amazon's latest attempt to store up and enhance its competitive barriers by introducing a home service marketplace that may help it achieve a lasting , powerful advantage is an example of<em> Customer Excellence.</em>
Customer excellence help a company in attracting the customer towards it. Customer excellence can be achieve by making your customers happy, by providing them good quality of goods, by listening their grievances , by providing them after sale service which is an important thing , by never saying no to them , always provide help to them .
Employees of the company should always be attentive towards the need of the customer .They should have complete knowledge of the product so that customer have no doubt regarding the product at the time of purchasing. He should have the ability to read the mind of the customer and understand his need .
