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Andru [333]
3 years ago
12

(Demand and Supply)What happens to the equilibrium price and quantity of ice cream in response to each of the following? Explain

your answers. a. The price of dairy cow fodder increases. b. The price of beef decreases. c. Concerns arise about the fat content of ice cream. Simultaneously, the price of sugar (used to produce ice cream) increases.
Business
1 answer:
erik [133]3 years ago
5 0

Answer: Full answer in explanation below.

Explanation:

a. The price of dairy cow fodder increases.

Because the cow fodder increases, this will cause the overall cost to make ice cream to increase. This will thus increase the equilibrium price of ice cream. Supply will decrease, and quantity will decrease because it's more expensive to produce ice cream.

b. The price of beef decreases.

Cows can be used for dairy products or to make beef. In this case farmers are making dairy poducts instead of meat. Therefore supply of ice cream will increase quantity will increase leading to a decrease in equilibrium price.

c. Concerns arise about the fat content of ice cream. SImultaneously, the price of sugar (used to produce ice cream) increases.

The concern about the fat content will lead to a decrease in the demand for ice cream. On the other hand, an increase in the price of sugar will lead to an increase in the cost of making ice cream. Less ice cream will be produced as a result. A simultaneous decrease in both supply and demand exists. This makes the price indeterminable.

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3 years ago
Collier/Evans defines servicescape as "all the physical evidence a customer might use to form an impression."
Slav-nsk [51]

Answer:

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Explanation:

The serviescape of a business includes the business appereance, layout, structure, signage, and equipment.

Walmart is a retail superstore that specializes in cheap consumer goods. The layout of the Walmart, is accordingly, spacious in order to accommodate as many products as possible.

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7 0
3 years ago
The following exchange demonstrates which problem solving technique?
Klio2033 [76]

Answer:

a. Fishbone Diagram

Explanation:

The problem-solving process can be defined as the systematic approach used to identify and determine the solution to a particular problem.

The steps involved in the problem-solving process are;

1. Identify and define the problem.

2. Gathering of information.

3. Consider your options.

4. Weigh disadvantages and evaluate a solution.

A Fishbone diagram is also referred to as Ishikawa diagram and it can be defined as a cause and effect diagram that is typically used by managers to identify possible reasons for failure, defect, variation, imperfection, so as to discover the root cause of a problem and proffering the right solution. It was designed and developed by Professor Kaoru Ishikawa in the 1960s.

Cause and effect can be defined as the relationship between two things or events in which an occurrence one (cause) leads to the occurrence of another (effect).

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3 0
3 years ago
Read 2 more answers
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