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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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lakkis [162]

Answer:

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Explanation:

bshshshhdshshshhshdbshjdjdkdjddjjdndndndnfnfkdk

8 0
3 years ago
Imagine that businesspeople from a high-context culture (e.g., Japan or China) meet their counterparts from a low-context cultur
tino4ka555 [31]

Answer:

As per Chegg guidelines .

Explanation:

For a high-context culture, the social environment or social context has more importance than the words being spoken. This means that in a high context culture, low-contex culture is not as important as the nonverbal communication, because nonverbal communication has more importance . For the high-context culture, a contract is just a beginning point for negotiations in closing the deal. Signing of the contract does not necessary means closing of the business deal. Some of the examples of high-context cultures are China, most Arab countries, Latin America, most African countries, most other Asian countries, and Italy. In reality, most cultures fall somewhere along a continuum, or sliding scale, in their perception of the importance of context (with high and low being the end points of the continuum

4 0
3 years ago
Based on the Information that follows, prepare the cost of goods sold section of a multiple-step income statement.
Shtirlitz [24]

Answer:

Cost of goods sold = $105,060

Explanation:

a) Data and Calculations:

Cost of goods sold section of the multi-step income statement:

Merchandise Inventory, January 1, 20--       $37,000

Purchases                                                       102,000

Purchases Returns and Allowances               (4,200)

Purchases Discounts                                       (2,040)

Freight-In                                                              800

Merchandise Inventory, December 31, 20--(28,500)

Cost of goods sold                                     $105,060

b) The cost of goods sold comprises the beginning inventory, purchases and freight-in costs incurred during the period, less purchases returns and discounts, and the ending inventory.  It represents the cost incurred directly for the goods sold.  This means that indirect costs are not included in the cost of goods sold.  Such costs are usually deducted as period costs before arriving at the net income.

7 0
3 years ago
Recent rains increase the demand for kayaks, as paddlers want to take advantage of the exciting river conditions on the oconee r
vagabundo [1.1K]
The question is incomplete and should state "Recent rains increase the demand for kayaks, as paddlers want to take advantage of the exciting river conditions on the Oconee river. New plastic technology makes kayaks less expensive to make, as a result, one should expect the equilibrium price of kayaks to purchased to fall and the equilibrium quantity of the kayaks to raise." The questions is also a true or false question. The answer will be false. It is false because both the equilibrium price will raise and so will the quantity. The increase in demand will will create a new curve in the demand which will raise the prices and the companies will make more kayaks. 
7 0
3 years ago
How are capital resources different from the other resources of production-- natural and human resources?
Elden [556K]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

The capital resources different from the other resources of production-- natural and human resources is c<span>apital Resources alone are not really needed for efficient production. The answer is B. </span>
6 0
3 years ago
Read 2 more answers
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