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gregori [183]
3 years ago
12

Many new restaurants have opened in Collegetown in recent years. Given this change in supply, what type of demand would result i

n a larger drop in prices for restaurant meals?
Business
1 answer:
Darina [25.2K]3 years ago
7 0

Answer: Inelastic demand

Explanation:

When new restaurants have opened in College town in recent years, the supply for restaurant meals increase. This will lead to a rightward shift in the supply curve for restaurant meals leading to a fall in the price and an increase in the quantity. The fall in price will be larger the more inelastic demand is.  When demand is more elastic then a fall in price will be less when supply increases.

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Suppose the Digby company shifts focus to only competing in the Thrift and Nano segments, while competing on price by reducing c
Bess [88]

Answer:

Niche cost leader strategy

Explanation:

In simple words, A niche cost pioneer or leader aims to exploit consumer markets that are price responsive. Its objective is to undercut all rivals' costs while remaining sustainable. Under this business strategy, the producer try to create a strong customer base by offering lower prices as it is the best motivation for the customer to try a specific product.

Thus, from the above we can conclude that the correct answer is niche cost leader.

6 0
3 years ago
20. The National Response Framework is a comprehensive guide to prevention, protection, response, recovery, and mitigation. A. T
Vlad1618 [11]

Answer:

Answer is option A, i.e. True.

Explanation:

The National Response Framework is a regarded as a comprehensive guide to deal with various emergencies and disasters that may threaten the normal ongoing process of a nation. This guide provides all the details regarding the prevention, protection, response,, and recovery from different types of dangerous situation that might adversely affect the well being of the nation.

8 0
3 years ago
Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 an
Andrej [43]

Answer:

<u>Foster Manufacturing </u>

<u>Journal Entries</u>

<u>Sr. No                       Particulars                       Debit           Credit</u>

1                    Work in Process Job No. 221        1200

                    Work in Process Job No. 222      1700

                   Work in Process Job No. 223       2400

                    Work in Process Job No. 224      2600

         Factory Overhead  Indirect Materials      600

                              Materials Inventory                                  8500

Materials Requisitioned to specific jobs work in process inventory.

2. Direct Labor    Work in Process Job No. 221        1600

     Direct Labor  Work in Process Job No. 222      2200

  Direct Labor    Work in Process Job No. 223       2900

    Direct Labor Work in Process Job No. 224      2800

                                                   Indirect Labor      400

                                      Payroll                                               9500

                                         Factory OverheadControl               400

Direct Labor used for specific jobs.

3.          Work in Process Job No. 221              1120

                    Work in Process Job No. 222      1540

                   Work in Process Job No. 223       2030

                    Work in Process Job No. 224      1960  

                         Manufacturing Overheads                            6930

Manufacturing Overheads applied to specific jobs at the rate of 70%.

4.     Finished Goods Inventory          $ 7940

      Opening   Work in Process Job No. 221                       3600

         Work in Process Job No. 221 Materials                     1200

         Work in Process Job No. 221 Direct Labor               1600

         Work in Process Job No. 221 MOH                          1540

Job 221 completed and transferred to finished goods.

                   

3 0
3 years ago
At the beginning of the year (January 1), Buffalo Drilling has $12,000 of common stock outstanding and retained earnings of $7,1
Mrrafil [7]

Answer:

                                Statement of stockholders' equity

                              at the end of the year (December 31)

                                     <u>Common Stock</u>        <u>Retained Earning</u>       <u>Total</u>

Opening Balance              $12,000                       $7,100               $19,100

Income for the year                                                $7400              $7400

Dividend Paid                                                        ($2,100)             ($2,100)

Common stock issuance  <u> $6,900  </u>                  <u>                 </u>           <u> $6900  </u>

End of the year Balance    $18,900                    $12,400             $31300

3 0
3 years ago
In order to implement contractionary policy, the government and central bank must _____ goverment spending _______ taxes, and __
Vedmedyk [2.9K]

Answer:

increase, decrease, decrease

Explanation:

3 0
3 years ago
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