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professor190 [17]
3 years ago
11

Assume that we are looking at the local market for pizza. Assume that the equilibrium price is $20 and the equilibrium quantity

is 1000. Which of the following options best describes what would happen to this market if two new pizza restaurants open up for business in this market?
1. Supply would increase causing a surplus situation. Prices would then decline and this causes quantity supplied to decrease and quantity demanded to increase, this continues until there is a new equilibrium at a lower price and higher quantity.
2. Demand would decrease causing a surplus situation. Prices would then decline and this causes quantity supplied to increase and quantity demanded to decrease until the new equilibrium is reached at a lower price and lower quantities.
3. Supply would decrease causing a surplus situation. Prices would then decline and this causes quantity supplied to increase and quantity demanded to decrease until the new equilibrium is reached at a lower price and lower quantities.
4. Demand would increase causing a surplus situation. Prices would then decline and this causes quantity supplied to increase and quantity demanded to decrease until the new equilibrium is reached at a lower price and lower quantities.
Business
1 answer:
Ksivusya [100]3 years ago
4 0

Answer:

1. Supply would increase causing a surplus situation. Prices would then decline and this causes quantity supplied to decrease and quantity demanded to increase, this continues until there is a new equilibrium at a lower price and higher quantity.

Explanation:

Since in the question, it is given that the two new pizza restaurants are entered in the market that reflects increment in the number of sellers. Due to an increase in sellers, the supply curve shift to rightward. This will result in a decrease in the equilibrium price and an increase in equilibrium quantity

And we know that there is a direct relationship between the price and quantity supplied and there is an inverse relationship between the price and the quantity demanded

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4 0
1 year ago
An airport needs a modern material handling system for facilitating access to and from a busy maintenance hangar. A​ second-hand
Arlecino [84]

Answer:

The second hand machine should be chosen given that the NPV value is lower than that of the new system

Explanation:

cost of second hand system = $75,000

cost of  new system = $150,000

New system can decrease labor hours by 20%

number of useful life ( for both systems ) = 5 years

market value of second hand system after 5 years = $20,000

market value of new system after 5 years = $50,000

Second hand system can operate for 8 hours/day for 20 days = 8*20 = 160 hours per month = 1920 hours per year

labor cost = $40 per hour

MARR = 1% per month

<u> Determine the system that should be recommended</u>

we have to calculate the NPV for both options

for Option 1 ( second hand system )

labor cost = 40 * 1920 = $76800

cost of purchase = $75,000

MARR = 12% p.a.

residual value = $20000

First step : calculate the PV of maintenance cost = $76800× PVAF(12%, 5 years) = $276864

Next : calculate the PV of residual value =$20000× PVF(12%, 5th year)

= $11340

NPV = (75000 + 276864 - 11340 ) = $340,524

for Option 2 ( New Machine )

Labor cost = ( 1920 × 0.8 )hours ×40  = $61440

cost of machine = $150000

Pv of labor cost = 61440×3.605  = $221491.20

Residual value = $50,000

Hence ; PV of residual value = 50000 × 0.567 = $28350

Finally calculate the NPV = (150000+221491.20-28350) = $343,141.20

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3 years ago
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sergij07 [2.7K]

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Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.

In this scenario, a financial institution advertises itself as especially oriented towards educators and teachers. Thus, the category this institution would most likely fall under is a credit union because it's not run like businesses that is after making profit i.e it's a non-profit business established to assist employees with their finances.

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Answer:

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