1. Why may a restaurant charge very high prices for wine and bottled water and yet quite...
Question:
1. Why may a restaurant charge very high prices for wine and bottled water and yet quite reasonable prices for food?
2. Why are clothes with designer labels so much more expensive than ‘own brand’ clothes from a chain store, even though they may cost a similar amount to produce?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 56% (16 reviews)
1 Because the demand for food is relatively elastic people may well comp...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
People who need life-saving drugs cannot do without them and surely will be willing to pay very high prices for them. So why cant producers of life-saving drugs charge any price that they wish?
-
You, CA, have been working for Plener and Partners, Chartered Accountants (P&P), a mid-size CA firm, for three years. You have been assigned a new project for a long-term client of your firm, Oxford...
-
A restaurant faces very high demand for its signature mousse desserts in the evening but is less busy during the day. Its manager estimates that inverse demand functions are p e = 20 Q e in the...
-
machine element is made of an alloy with Yield strength of 200 Mpa and fracture strain is 0.08. A machine element is characterized by the normal stress components as shown in the figure. The Answer...
-
The director of surgery at a local hospital is interested in understanding his unit's costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with...
-
The following information is available for Argust Corporations pension plan for the 2011 fiscal year: Accrued benefit obligation, 1/1/11, accounting basis...... $315,000 Accrued benefit obligation,...
-
A survey included 4230 responses from Internet users who decided to respond to a question posted by America OnLine (AOL). Here is the question: How often do you use credit cards for purchases? Among...
-
The employees of Carson Bakery Company earn total wages of $7,780 during January. The total amount is taxable under FICA, FUTA, and SUTA. The state contribution rate for the company is 4.3%. The...
-
A hotel normally charges $130 per night for a room. At this price, they can usually get 50 rooms reserved. For every $10 they increase the price, they lose 2 rooms. If you let "n" be the number of...
-
Assume the following data for Quality Care Dry Cleaning for the year ended December 31. Gross earnings $355,600.00 All employees salaries are greater than $7,000 in the fi rst quarter of employment...
-
1. What do you think caused the large increase in the price of coffee in 1997? 2. Use supply and demand diagrams to explain (a) The fall in coffee prices in the late 1990s and early 2000s, and in the...
-
1. How would drivers make a rational decision about when to switch from E100 to blended petrol? 2. How would you work out the cross-price elasticity of demand for blended petrol with respect to a...
-
Resistance and support areas for a stock market index are viewed as technical indicators of: a. Economic barriers. b. Psychological barriers. c. Circuit breakers. d. Holding patterns.
-
AAA Inc., a pharmaceutical firm, provides discounted prescription drugs through direct mail. AAA has a small systems staff that designs and writes AAAs customized software. With the addition of a...
-
A 0.013 kg rubber stopper is attached to a 0.93 m length of string. The stopper is swung in a horizontal circle, making one revolution in 1.18 s. Find the speed of the stopper in (m/s).
-
What is the efficiency of a heat engine that performs 700 J of useful work from a reservoir of 2700 J?
-
1. Create a class that will accept id numbers ranging from 1 to 29 (please do this) 2. The id numbers are nodes of a binary tree. 3. Traverse the tree in inorder, preorder, and postorder and display...
-
Could you discuss the role of chaos engineering practices in validating and improving the fault tolerance of distributed systems, whereby intentionally injecting failures and simulating real-world...
-
Zaire Corporation granted an ISO for 250 shares of its stock to Bruno on July 20, 2015, for service rendered. The option price was $130 and the fair market value was $130 on the date of the grant....
-
Pappa's Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the year, and the inventory count at December 31 are...
-
How could it better account for late raw material deliveries when they did occur? Explain briefly
-
Caroline Corp purchased the assets of Hayden Inc. for $7 million cash. The fair value of Hayden Inc's assets was 3.4 million and the purchased company had total liabilities of $350,000. How much...
-
a. Performed $27,000 of services on account. b. Collected $19,100 cash on accounts receivable. c. Paid $5,200 cash in advance for an Insurance policy. d. Paid $810 on accounts payable. e. Recorded...
Study smarter with the SolutionInn App