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
Lapatulllka [165]
3 years ago
10

When gasoline prices rise​ rapidly, angry customers often accuse the major oil companies of​ ________, or enriching themselves a

t the expense of consumers.?
Business
1 answer:
Thepotemich [5.8K]3 years ago
6 0
Price gouging is the term that means when a company is raising prices on a product or service at the expense of their consumers in order to make more money. When gasoline prices rise, angry customers often accuse oil companies of this.<span />
You might be interested in
This question examines the market for mangos. You will use a demand function to construct the demand schedule, calculate the pri
raketka [301]

Answer:

Task 1. Use the table below to find the quantity of mangos demanded at each price.

For a price of $1, the quantity demanded of mangos is:

Q = 150 - 25 ($1)

Q = 125

For $2:

Q = 150 - 25 ($2)

Q = 150 - 50

Q = 100

For $3

Q = 150 - 25 ($3)

Q = 150 - 75

Q = 75

For $4

Q = 150 - 25 ($4)

Q = 150 - 100

Q = 50

For $5

Q = 150 - 25 ($5)

Q = 150 - 125

Q = 25

Task 2. Calculate the price elasticity of demand when the price falls from $5 to $4.

The formula is

Price Elasiticy of Demand (PED) = ((Q2 - Q1) / (Q2 + Q1) / 2 ) / ((P2 - P1) / ((P2 + P1) / 2)

Now, we plug the amounts into the formula

PED = ((50 - 25) / (50 + 25) / 2) / ((4 - 5) / (4 + 5) / 2)

PED = 0.1666 / -0.0556

PED = -3

We take the absolute value, 3, which is a PED higher than 1, meaning that demand is elastic: the quantity demanded in this case increased more than the price.

Task 3. When the price of a mango falls from $5 to $4, does total revenue fall or rise? How do you know?

Revenue = Price x Quantity

Under the first scenario, revenue = $5 x 25 = $125

Under the second scenario, revenue = $4 x 50 = $200

So revenue increased by $75.

Task 4. When the price of a mango falls from $3 to $2, does total revenue fall or rise?

First scenario = $3 x 75 = $225

Second scenario = $2 x 100 = 200

So revenue actually falls by $25.

4 0
3 years ago
Consider the relative liquidity of the following assets:
NeTakaya

Answer:

1. A $20 bill

2. A bond issued by a publicly traded company

3. The funds in a money market account

4. Your car

Explanation:

Liquidity means that how easily an asset can be converted into cash.

1. Currency is the most liquid means of medium of exchange, so $20 bill is highly liquid asset.

2. A publicly traded bond can be converted into cash within a couple of days, so it is second most liquid asset.

3. The funds invested in the money market can be withdrawn within agreed period of time which can be in months or days so it can be at seconf or third most liquid asset.

4. A car can take more than a month to locate a customer to sell it at appropriate price so it is the least liquid asset.

4 0
3 years ago
What main nutrients does a cola drink have?
Rzqust [24]

Answer:

coke dont have nutrients

Explanation:

coke be killin u lol

3 0
3 years ago
Read 2 more answers
This problem has been solved!
Vsevolod [243]

Answer:

option (B) Costs outweigh benefits by $1,600

Explanation:

Given:

Software costs = $10,300

Employee training cost = $8,200

Expected hardware upgrade cost = $12,100

Expected benefits from the inventory tracking system = $29,000

Now,

The total cost of the inventory tracking system

= Software costs + Employee training cost + Expected hardware upgrade cost

= $10,300 + $8,200 + $12,100

= $30,600

Since the cost is more than the benefit, the cost outweigh the benefit

the difference of outweigh = Cost - Benefit = $30,600 - $29,000 = $1,600

Hence,

the correct answer is option (B)

7 0
3 years ago
sun-Jun is a representative for a Chinese company that is based in Confucian culture. When Sun-Jun mentions to his staff that gu
marysya [2.9K]

Answer: relationships or connections the business has

Explanation:

From the question, we are informed that Sun-Jun is a representative for a Chinese company that is based in Confucian culture and that when Sun-Jun mentions to his staff that guanxi should be taken into consideration.

Guanxi means connection which brings about the facilitation of deals. In business, relationships are essential.

6 0
3 years ago
Other questions:
  • A process called? _________________ is where members of the distribution channel act as if they were assembly stations in the fa
    5·1 answer
  • What was the four-firm concentration ratio in the u.s. soda market in 2009?
    13·1 answer
  • What is the point at which supply and demand intersect at a given price?
    10·2 answers
  • This year, Mr. Thomas has a higher credit score than he did last year. Which of the following should Mr. Thomas expect with the
    13·2 answers
  • Sannella Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales S
    10·2 answers
  • Which of the following listings correctly describes the order in which the four types of budgets must be prepared?
    14·1 answer
  • A monopoly firm is the only seller of a good or service that A) does not need to be advertised. B) has no close complements C) d
    13·1 answer
  • Cho ví dụ môi trường kinh doanh ở các nước đầu tư
    15·1 answer
  • Which trait do MOST employers look for when hiring new employees?
    9·1 answer
  • What do you think Madison needs to include in the fire prevention training plan?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!