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
Alecsey [184]
3 years ago
5

Suppose one rental car company raises its prices and the rival car companies leave their prices unchanged. But when another rent

al car company lowers its prices, the other companies match the price decrease.
This situation is an example of ______.
Business
1 answer:
Karo-lina-s [1.5K]3 years ago
7 0

Answer:

This situation is an example of cross Price elasticity of Demand

Explanation:

If change in Price in Rental Company A doesn't necessitate change in prices in Rental companies B.C.D.E & F

Then the products A has on offer are not close substitutes to the rival companies

However where Rental company G lowers his price and it immediately triggers a Price reduction in Companies B to F, then obviously they offer similar products that are close substitutes and serve similar segment or channel of the Market Size. Thus failure to lower their Price will automatically see Customers rent cars more from Company G.

This situation is an example of cross Price elasticity of Demand

You might be interested in
In a project network, the critical path is the sequence of activities which has the:________.
Scorpion4ik [409]

In a project network, the critical path is the sequence of activities which has the longest time. A series of interconnected tasks known as the critical route has a direct impact on the project's completion date.

<h3>What do you men by the project network?</h3>

A project network is a graph that displays the actions, lengths of time, and dependencies among your project's tasks.

Techniques like Gantt charts, PERT charts, and critical path management can be used to form project networks. The project network has a number of paths, but each terminal piece must be located on just one of those paths.

A project's workflow is shown graphically in a project network diagram. A network diagram is a project management chart that lists boxes for activities and roles, followed by arrows that show the timetable and order in which the work must be done.

Therefore, in a project network, the critical path is the sequence of activities which has the longest time. A series of interconnected tasks known as the critical route has a direct impact on the project's completion date.

To know more about the project network, visit:

brainly.com/question/29417593

#SPJ2

3 0
1 year ago
Read 2 more answers
Perrette Motor Company rebuilds automobile engines that have been damaged or are in need of extensive repair. The rebuilt engine
kow [346]

Answer:

Perrette Motor Company

Computation of the cost per equivalent unit for materials and conversion for the month:

1. Material cost per equivalent unit: $1,100

2. Conversion cost per equivalent unit: $1,350

Explanation:

a) Data and Calculations:

                                Units     % of completion          Equivalent unit

                                          Materials Conversion    Materials Conversion

Beginning WIP        120         50%        50%                 60                60

a) Started and

Completed             530        100%       100%             530               530

b) Ending WIP        220          50%        30%              110                  66

Equivalent units                                                        640                596

Cost of production:

                                       Materials      Conversion

Beginning WIP              $68,000          $73,200

Started & completed    636,000           731,400

Total cost                    $704,000       $804,600

Equivalent units               640                   596

Cost per equivalent unit $1,100             $1,350

b) When calculating the equivalent units under the weighted average process costing method, the units beginning work-in-process are not taken into consideration, but the costs are.

5 0
3 years ago
When money prices are used to facilitate comparisons of value, money is said to function as a.
Jlenok [28]

Hi! Your answer will be medium of exchange.
Hope this helps! Have a good day!

7 0
2 years ago
Other financial data for the year ended December 31, 2020: Included in accounts receivable is $1,200,000 due from a customer and
shepuryov [24]

Answer:

$2,500,000

Explanation:

Calculation for the current liabilities total

Account payable and Accrued Liabilities $1,761,000

Add Income tax payable $654,000

Add Deferred income tax liability $85,000

Current liabilities total $2,500,000

($1,761,000+$654,000+$85,000)

Therefore the Current liabilities total is $2,500,000

4 0
3 years ago
Refer to the accompanying graph. If the market price for the product falls, then which of the curves would shift?A. MCB. ATCC. A
ella [17]

If the market price for a product falls, the curve that would shift would be the D. Curve D.

<h3>What curve shifts with market price ?</h3>

In the given graph, the curve that would shift as a result of a shift in the market price would be the demand curve or D. This is because this demand curve is a horizontal curve which makes it perfectly elastic.

A perfectly elastic curve will change demand when there is a change in market price as more people will be interested in the good or service and try to get more or it.

Find out more on shifts in curves at brainly.com/question/29730751

#SPJ1

6 0
1 year ago
Other questions:
  • When a parent uses the equity method throughout the year to account for its 80% investment in an acquired subsidiary, which of t
    10·1 answer
  • The mean amount spent by a family of four on food per month is $700 with a standard deviation of $85. Assuming that the food exp
    10·1 answer
  • Guatemala is open to international trade in maize without any restrictions, it will import tons of maize. Suppose the Guatemalan
    7·1 answer
  • ​Connecticut, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the compar
    5·1 answer
  • Grameen Bank extends credit to the very poor to give them the opportunity to build better lives. Other businesses target poor pe
    7·1 answer
  • Which of these are considered broad economic goals? Dependability, equity, efficiency Freedom, equity, growth Reliability, hones
    7·1 answer
  • A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and an est
    6·1 answer
  • Saffron Industries most recent balance sheet reports total assets of $42,000,000, total liabilities of $16,000,000 and stockhold
    7·1 answer
  • Why do you think business provide bonus to its employees?​
    15·1 answer
  • Your brother rarely filters his observations and often makes insensitive comments that
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!