You are an owner of a car wash, and you meet with other neighborhood car wash owners. Consider that trips through the car wash and washing your car at home are substitutes. In an attempt to increase sales, you collectively decide to lower prices of trips through the car wash by 10%. Which of the following are consequences of this price change? Choose one or more: A. The supply of trips through the car wash will decrease. B. The demand for trips through the car wash will not change. C. The supply of trips through the car wash will increase. D. The demand for trips through the car wash will increase. E. The quantity supplied of trips through the car wash will decrease. F. Demand for washing your car at home will decrease.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You are an owner of a car wash, and you meet with other neighborhood car wash owners. Consider that trips through the car wash and washing ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The spot price of silver is $25 per ounce. The storage costs are $0.24 per ounce per year payable quarterly in advance. Assuming that interest rates are 5% per annum for all maturities, calculate the futures price of silver for delivery in 9 months.
Answers (1)
On January 1, 2019 Miller Corporation had retained earnings of $8,000,000. During 2019, Miller reported net income of $1,500,000, declared dividends of $500,000, and had revenues of for $10,000,000.
Answers (1)
An interviewer can form a strong opinion of you within the first 30 seconds of meeting you.
Answers (1)
Which option would you select to control being linked to other people's posts? Timeline and tagging settings Location settings Security settings Privacy and tools
Answers (1)
Using the adage you get what you measure when designing the performance evaluation system
Answers (1)
New Questions in Business
Monmouth Inc.'s stock has a 30% chance of producing a 20% return, a 30% chance of producing a 10% return, and a 40% chance of producing a - 10% return. What is the firm's expected rate of return?
Answers (2)
Oahu Industries' average total assets for the year are $4,000,000, its average total stockholders' equity for the year are $3,000,000, its net income is $800,000, its gross margin is $2,000,000, and its net sales are $10,000,000.
Answers (1)
Following the completion of the bank reconciliation, an adjusting entry was made that debited cash and credited Interest Revenue. Therefore the bank reconciliation must have included an item that was: A.
Answers (2)
Which of the following is least likely to be a factor in developing a sales forecast? a. Number of salespeople employed by the firm's major competitors b. Geographic area in which the product is sold c. Entire product line d.
Answers (1)
Should you use a personal website, such as a blog, for research? Question 20 options: True False
Answers (1)