User Account

All Pages

Is the demand for pizza relatively more elastic or inelastic

Assignment Help Accounting Basics
Reference no: EM131041469

Janet Gordon and Phil Hopkins graduated several years ago with M.S. degrees in accounting and set up a full-service accounting firm. Janet and Phil have many small business clients and have noticed some pricing trends while compiling annual financial statements. The following data are for five of the pizza parlors which are Janet and Phil's clients:

 

Quantity Sold

Average Price

Mamma Mia's

18,000

$10.00

Happy Time Pizza

21,000

7.90

Keg and Pie Pizza

22,000

8.00

Fast Freddy's Pizza

30,000

7.00

Pizza-pizza

24,000

7.50

Required:

1. Is the demand for pizza relatively more elastic or inelastic?

2. What type of market structure characterizes the pizza industry? How do you suppose that Mamma Mia's can charge so much more per pizza than Fast Freddy's does?

Reference no: EM131041469

Questions Cloud

Theoretical value of the american put : The risk-free rate is 4 percent. Assume a two-period world. What is the theoretical value of the American put with an exercise price of 105?
Describe at least two alternatives to oil : Describe at least two alternatives to oil that are currently available and discuss the barriers that keep these alternatives from replacing oil as our primary means of energy?
Identical call option on the same stock : A European put option on a stock priced at $50 has a price of $3. The present value of the exercise price of the option is $49. The stock is not expected to pay a dividend. What must be the price of an identical call option on the same stock?
Information pertaining to the hotel services and guest : Christy also collected information pertaining to the hotel's services and guest rooms. What information can Christy learn from these questions?
Is the demand for pizza relatively more elastic or inelastic : What type of market structure characterizes the pizza industry? How do you suppose that Mamma Mia's can charge so much more per pizza than Fast Freddy's does?
What roles were women expected to play in roman society : What roles were women expected to play in Roman society? To what extent did women challenge those expectations? Does the role of women shift between the Republic and Empire? How do different types of evidence give us different ideas about the role..
Ti improve the level of service provided by the hotel : What additional information woukd be helpful ti improve the level of service provided by the hotel? And how can this additional information be collected?
Discuss the effects of your own enculturation : Identify three premises reasons from the Procon.org website that support your position and explain why you selected these specific reasons - Discuss the effects of your own enculturation or group identification that may have influenced your biases.
How to improve the pertection and promotion of human rights : Human rights law paper: 5-6 page peper on how to improve the pertection and promotion of human rights as we move further into the 21st century. in this research paper you will select one human rights area to depiict (example, free speach in syria,..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd