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Alexxx [7]
3 years ago
10

A service station owner in Staten​ Island, New​ York, was worried that raising the price of gasoline would cause the quantity de

manded to fall by so much that he would be in a worse situation than if he did not raise the price. If raising the price of gasoline would cause the owner to receive less total revenue from the sale of​ gasoline, the demand for gasoline is __________ .
Business
1 answer:
lara31 [8.8K]3 years ago
5 0

Answer:

The demand for gasoline is elastic .

Explanation:

The elastic demand which is also termed as the price elasticity of demand, according to this concept the demand for a good is sensitive to changes in the price of goods, that means (according to this question ) if the prices of gasoline are increased by the service station owner, than the demand for gasoline would decrease . Here the demand would change by same percentage , that price would change.

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A__________ gap exists when a firm knows what it needs to do to meet customers' service expectations but sometimes fails to do i
astra-53 [7]

Answer:

a. delivery

Explanation:

The delivery gap is that gap which shows a difference between the company service timing and actual service timing that is given to the customer

The motive of the organization is to deliver the productions within the prescribed time so that the customers can get maximum satisfaction.  

But if the delivery is not made with the given that, the customer expectation falls which ultimately reduces the customer satisfaction towards the products delivered to them.

8 0
3 years ago
Job 590 has a total cost of $29,200. It has been charged manufacturing overhead costs of $7200. The rate is 85% of direct labor.
Gnoma [55]

Answer:

$13,529= Direct material

Explanation:

Giving the following information:

Job 590 has a total cost of $29,200. It has been charged with manufacturing overhead costs of $7200. The rate is 85% of direct labor.

Total cost= direct material + direct labor + allocated overhead

29,200= DM + (7,200/0.85) + 7,200

29,200 - 7,200 - 8471= dm

$13,529= DM

7 0
3 years ago
Why do economists generally favor deregulation of most industries?
Kazeer [188]
Sorry this description is a bit confusing but i couldn't really think of a way to phrase it properly :)

most economists believe that deregulation has the potential to be helpful because the fact that things aren't regulated by the government increases competition in people selling the same wares, which normally ends up lowering the price of that specific good and/or improving the quality of the good drastically (which means more people will be buying, it whatever it may be, which is good for the economy) 


8 0
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Which term refers to an economic situation where the large amount of money in circulation creates continuous pressure to raise p
Dvinal [7]
B. Inflation
Inflation is when a country prints too much money, therefore decreasing the value of the currency.
5 0
3 years ago
Read 2 more answers
Why is one dollar now worth more than one dollar in the future?
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Because then there will be a limited amount of supplies and resources on Earth, so the value will be rare and expensive.
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