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
vfiekz [6]
3 years ago
13

You manage a popular nightclub, and lately revenues have been disappointing Your bouncer suggests that raising drink prices will

increase revenues. Your bartender suggests that decreasing drink prices will increase revenues. You aren't sure who is right, but you do know that:
a) Your bouncer thinks the demand for drinks is elastic and the bartender thinks the demand for drinks is inelastic.
b) Your bouncer thinks the demand for drinks is inelastic and the bartender thinks the demand for drinks is elastic.
c) Both the bouncer and bartender think the demand for drinks is elastic.
d) Both the bouncer and bartender think the demand for drinks is inelastic.
Business
1 answer:
Anna35 [415]3 years ago
4 0

Answer:

The correct answer is option b.

Explanation:

The manager of a nightclub wants to increase the revenues. The bouncer suggests increasing the price of drinks while the barender suggests decreasing the price.

An increase in the price of drinks will cause the revenues to increase if the demand for drinks is inelastic. The increase in the price will cause a less than proportionate decrease in the quantity demanded. In this situation, a price rise will increase revenues as well.

While a decrease in the price of a product will cause the revenues to increase if the demand is elastic. In this situation a decrease in the price will cause a more than proportionate increase in the quantity demanded. As a result, the revenues will increase.

This implies that the biuncer thinks the demand for drinks is inelastic while bartender thinks it is elastic.

You might be interested in
Account Title Amount Account Title Amt Accounts Payable ---------------------- $ 204,975 Income Taxes Payable --------------- 78
Archy [21]

Answer:

          Stockholders Equity

Preferred Stock                375,000

Common Stock                562,500

Additional Paid-in Capital   81,900

Retained Earnings        <u>    306,000 </u>

Total Equity                    1,325,4‬00

Explanation:

We look into the list only for the equity accounts:

Which are the preferred stock, the common stock

and the additional paid-in caital.

We will also include the retained earnings account

All this accounts increase the equity, so we ujust need to add them together.

8 0
3 years ago
Suppose that you enter into a short futures contract to sell July silver for $17.20 per ounce. The size of the contract is 5,000
ivanzaharov [21]

Answer:

$0.20

Explanation:

For computing the change in future price, first we have to determine the loss which is shown below:

Loss = Initial Margin - Maintenance Margin

        = $4,000 - $3,000

        = $1,000

Now the change in future price would be

= Loss ÷ size of the contract

= $1,000 ÷ 5,000 ounces

= $0.20

The future price is increased by $0.20

And, if the margin call is not meet than the broker will stop at best price so that he cannot suffer more loss

7 0
3 years ago
Read 2 more answers
What is the relationship between a firm's industry environment and the firm's earning potential?
Damm [24]

An organization is more likely to generate above-average returns the more it can positively impact the environment of its industry.

The general rules of competition that affect all companies that offer comparable goods and services. Industry environment is a concept that Harvard professor Michel E. Porter advanced into the forefront of strategic thinking and company planning. The core of his work, which outlines the five factors that affect industry competition, first appeared in the Harvard Business Review. Strategic managers can link distant issues to their influence on a firm's operating environment with the use of his well-defined analytical framework.

To learn more about firms environment here

brainly.com/question/17494285

#SPJ4

3 0
1 year ago
The marginal cost of manufacturing x yards of a certain fabric is C'(x) = 3 − 0.01x + 0.000006x2 (in dollars per yard). Find the
Amiraneli [1.4K]

Answer:

There are 52 dollars increase on marginal cost when production rises

There are 58000 dollars increase on total cost when production rises

Explanation:

Please find attached word file with the calculations.

Download docx
8 0
3 years ago
Many older companies have changed from a defined-benefit plan to a(n) ________, which is a retirement plan where workers are cre
avanturin [10]

Cash balance plan is a retirement plan where workers are credited with a part of their pay annually and a predetermined rate of interest.

<h3><u>What is a Cash balance Plan?</u></h3>

A defined-benefit pension plan with a lifetime annuity option is referred to as a "cash balance pension plan."

<h3><u>What are some features of Cash balance plans?</u></h3>
  • Based on defined-benefit needs, the financing caps, funding requirements, and investment risk are established.
  • Like a defined-contribution plan, this type of plan is managed on an individual account basis.
  • The advantage of these programs is that age-based contribution caps are available.
  • Pretax contributions enable those 60 and older to save significantly more money each year than younger people.

You can learn more about defined pension plans work using the following link:

brainly.com/question/15241364

#SPJ4

6 0
1 year ago
Other questions:
  • Distinguish among a​ budget, a performance​ report, and a variance. A. A budget measures the differences between a performance r
    6·1 answer
  • Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $180,000. However, the b
    12·1 answer
  • Harry recently purchased a new store-brand laundry detergent and was impressed by the product. He has decided that he is going t
    6·1 answer
  • Your boss gives you an increase in the number of dollars you earn per hour. this increase in pay makes
    11·1 answer
  • In the ________ form of ownership, the business itself pays income taxes.
    12·2 answers
  • In august, Johns Co.’s account receivable balance was written off using the direct method. In November, Johns pays the balance i
    13·1 answer
  • An automatic stabilizer:________
    14·1 answer
  • Countries A,B, and C with respective total populations 50 million, 18 million, and 15 million also have annual GDP as:
    9·1 answer
  • You want to save at least $10,000 for a down payment on a new car. In cell B6, enter a formula to calculate how much you will ha
    10·1 answer
  • Please subscribe to my mom channel please<br><br>I need 100 subscribe​​
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!