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
zaharov [31]
3 years ago
6

Suppose there exists a market for coffee that is in equilibrium at 500 cups brewed per week for $3/cup. Now suppose the demand f

or coffee shifts outward (to the right). What are some reasons this shift might have occurred?
Business
1 answer:
Anton [14]3 years ago
7 0

Answer:

Increase in Substitute good price , Decrease in Complementary Good price, Fall in Income , Taste & preferences change in favour of good.

Explanation:

Demand is the ability & willingness of consumer to buy a product at a price , period of time.

There are four factors affecting Demand with following relationships with it : Price of Good (inversely related) , Price of related goods (substitutes-directly related) & (complements-inversely related), Income (directly related) , Taste & preferences (depends).

Any Change in 'Quantity Demanded' due to change in good's own price leads to movement on the demand curve (contraction or expansion). Any 'Change in Demand' due to factors other than price shifts the demand curve (rightwards or leftwards).

So : Increase in substitute good's price (eg- tea) price makes coffee relatively cheaper, Decrease in complementary good's price (eg - sugar/milk) makes coffee altogether cheaper, taste & preference change in favour of coffee consumption (eg- people learning advantages of caffaine consumption). All these mentioned Increase the Demand for coffee & shifts its curve rightwards.

You might be interested in
A single-channel queuing system has an average service time of 10 minutes and an average time between customer arrivals of 15 mi
amm1812

Answer: (a ) 4 per hour (b ) 4.5 minutes (c ) 3 minutes

Explanation:

Average time between customer arrival = 15 minutes

Average service time = 10 minutes

(a) To calculate the customer arrival rate

Arrival rate = 1 / time between Arrival

= 1 / 15

= 0.066 × 60

= 4 per hour

(b) To calculate the average number of customers in queue

( Arrival time )^2 / service time ( service time - Arrival time)

= (15)^2 / 10 ( 10 - 15)

= 225 / 10 (-5)

= 225 / 50

= 4.5 minutes

(c) To calculate the average time customers spend in the system

Arrival time / service time - Arrival time

= 15 / 10 - 15

= 15/ -5

= 3 minutes

7 0
3 years ago
Twinkies on the shelf of a convenience store lose their fresh tastiness over time. We say that the taste quality is 11 when the
Dafna1 [17]

Answer:

4.27 days

Explanation:

Initial taste quality = 1

Quality of tastiness declines using this function

Q(t)  = 0.85^t ( t in days )

<u>Determine when the taste quality will be 1/2 of original value</u>

i.e. when Q(t) = 1/2

1/2 = 0.85^t

= In ( 2 ) = - t ( In 0.85 )

∴ t = - In (2) / In (0.85)

     = 4.265 days  ≈ 4.27 days

7 0
3 years ago
The new ASC Topic 606 for revenue recognition:
denpristay [2]

Answer:

addresses when and how revenue should be recognized in contracts that provide both goods and service to customers.

Explanation:

ASC 606 is a new standard that provides guidance on revenue recognition to the companies that provide goods and services to its customers. This standard is for both public and private entities. Earlier there were some variations in the revenue recognition process across different companies. The new standard has now simplified standardization in financial reporting.

5 0
3 years ago
The developers of your new system have proposed two different AIS designs and have asked you to evaluate them. This evaluation p
Tamiku [17]

Answer:D - system analysis

Explanation: The system analysis stage in the System Development Life Cycle is on of the most important step. Here the security of the system is analysed to test if it will perform the function accurately without security bridge.

At this state, the security activity of the system is tested.

4 0
3 years ago
You just won the grand prize in a national writing contest! As your prize, you will receive $500 a month for 50 months. If you c
nadya68 [22]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Cash flow= $500

Number of months= 50

Monthly interest rate= 0.07/12= 0.00583

First, we need to calculate the future value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= cash flow

FV= {500*[(1.00583^50) - 1]} / 0.00583

FV= $28,928.06

Now, the present value:

PV= FV/(1+i)^n

PV= 28,928.06/(1.00583^50)

PV= $21,631.67

5 0
3 years ago
Other questions:
  • X2 issued callable bonds on January 1, 2015. The bonds pay interest annually on December 31 each year. X2's accountant has proje
    6·1 answer
  • In two to three sentences, explain how a tariff on cars can reduce the demand for imported cars.
    5·1 answer
  • "Bardron, an information technology company in the country of Conimount, wanted to start its business in the country of Bertholt
    13·2 answers
  • PLEASE HELP!
    7·2 answers
  • Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $305,000, vari
    11·1 answer
  • 1.4. Explain the role of financial markets in the economy.​
    6·1 answer
  • g 7. Problems and Applications Q3 Gilberto loves watching Downton Abbey on his local public TV station, but he never sends any m
    13·1 answer
  • American Enterprise Company's total current assets were $12,000 and its total current liabilities were $4,000. If American Enter
    5·1 answer
  • What are 10 ways that people use percentages in their daily life
    13·2 answers
  • OCF from Several Approaches [L01] A proposed new project has projected sales of $125,000, costs of $59,000, and depreciation of
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!