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zlopas [31]
3 years ago
11

Stephen runs a pet salon. He is currently grooming 120 dogs per week. If instead of grooming 120 dogs, he grooms 121 dogs, he wi

ll add $65.65 to his costs and $65.65 to his revenues. What will be the effect on his profits of grooming 121 dogs instead of 120 dogs? Stephen's profits will change by $ (Enter your response rounded to two decimal places.)
Business
1 answer:
aniked [119]3 years ago
6 0

Answer:

Effect on income= $0

Explanation:

Giving the following information:

He is currently grooming 120 dogs per week. If instead of grooming 120 dogs, he grooms 121 dogs, he will add $65.65 to his costs and $65.65 to his revenues.

Contribution margin per dog= selling price - unitary variable cost

Contribution margin per dog= 65.65 - 65.65= 0

Effect on income= 0*1= $0

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Answer:

a. the owners of the firm also manage the firm

Explanation:

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It should be noted that the principal-agent problem arises when the owners of the firm also manage the firm

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When the price is $12 the quantity demanded is 50. When the price increases to $24 the quantity demanded decreases to 30. Calcul
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Answer:

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Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

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