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ohaa [14]
2 years ago
9

Phil’s filling station gas station operates on a patch on the highway in a patch where there were no gas stations close by. It e

njoyed high profits. After a while, Glen’s gas another gas station opened up close by. The profits for the first gas station are likely to decrease because a. ​it has to lower prices, since its product is now more price elastic b. ​It has to lower prices since its product is now more price inelastic c. ​due to the increased availability of substitutes d. ​both A&C
Business
1 answer:
Harman [31]2 years ago
7 0

Answer: Both A and C

Explanation:

The Phil's filling gas station operates on a highway was solo in that area and had no other gas stations nearby.It enjoyed the profit .

Sooner a new gas station opened near Phil's gas station.The profit of the Phil's gas station started decreasing. This was because the it has to lower prices to increase its demand and as there were substitutes available in the market now, people moved to another gas stations for their need.

Both of the cases will decrease its profit.

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Hedge Fun is a landscaping firm that specializes in topiary. It contracts with the owners of 125 local homes and provides its se
tekilochka [14]

Answer:

Break-even level of output = 56

Explanation:

Given:

Annual Revenue = $1,300

Total Fixed cost = $28,000

Variable cost = $800

Computation of contribution:  

Contribution = Sales - Variable cost

Contribution = Revenue - Variable cost

Contribution = $1,300 - $800

Contribution = $500

Computation of Break-even level of output:

Break-even level of output = Total Fixed cost / Contribution

Break-even level of output = $28,000 / $500

Break-even level of output = 56

3 0
2 years ago
Perggy's Bakes, a bakery in New Orleans that exclusively sells its confectionery products online, makes its products only when i
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Answer:

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Explanation:

7 0
2 years ago
Your company wants to set aside a fixed amount every year to a sinking fund to replace a piece of industrial equipment costing $
nika2105 [10]

Answer:

If the company makes 8 deposits, one per year earning 7% per year, in order to get $375000 at the 8 year, the company has to deposit $34,874.16 each year.

Explanation:

To get this number the best option is to use a excel spreadsheet and solver add-in. In a table with 8 columns (8 years), organize the payments and the rule of interest: payment year 1*(1+7%)^8+payment year 2*(1+7%)^7+payment year 3*(1+7%)^6+payment year 4*(1+7%)^5+payment year 5*(1+7%)^4+payment year 6*(1+7%)^3+payment year 7*(1+7%)^2++payment year 8*(1+7%)^1 where all the payments are equal (payment 1=p2=p3...=P8)

4 0
2 years ago
What effect does the change in the market for cripps pink apples have on the price of the apples and on the quantity supplied an
Anika [276]

Answer:

The change in the market for Cripps  is positively related with other apples.

Explanation:

The Cripps pink apples are the substitute to the other apples so there is a direct relationship between the price one commodity and the demand for its substitute commodity. Therefore, if the price of Cripps pink apples rises, then the demand for other apples will rise also because of substitute goods. Similarly, if the price fall, then the demand for other apples will also fall. Thus substitute goods encompass a positive relationship.

3 0
2 years ago
Malik is employed by an architecture firm. Malik most likely works in
adelina 88 [10]

The correct answer is B. Pre-construction.

Pre-construction is the project which is done before construction starts.

In pre-construction a person evaluates the documents which are being associated with the project.

The person evaluates equipment and material expenses what they will cost, and time when the construction will be finished.

3 0
2 years ago
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