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In the long run, decisions are related to the fixed variables like size of the building, floor area, machinery etc, these variables are considered as fixed in short run.
You own a restaurant. Which decision is most likely to be made in the long run?...
Using your own work experience, but preferably your current employer, discuss a recent pricing decision made by the company. Do you think it was an optimal solution? If not, why not? If you were solely responsible for this pricing decision, how would you have acted differently? You should use the tools learned this week, including elasticity as a basis of your response. (You may leave out specific identifying information about the company in order to protect corporate privacy.)
a) b) c) d) Make or Buy A restaurant bakes its own bread for a cost of $140 per unit (300 loaves), including fixed costs of $33 per unit. A proposal is offered to purchase bread from an outside source for $97 per unit, plus $8 per unt for delivery Prepare a dilferential analysis dated July 7 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the bread, assuming that fixed costs are unaffected by the...
Can you provide explanation for answers? ce Which of the following is the best example of a long-run decision? A. An automobile manufacturing company is considering whether to invest in robotic equipment to develop a more cost-effective production technique. B. An automobile manufacturing company is considering whether to expand its existing workforce while keeping the same factory and equipment. C. A business consulting firm is considering whether to hire some interns to assist with research and data processing D. A...
Context: You own three Chick-Fil-A franchises. In your sales district, you know that the average weekly sales are $542,000. One of your stores (Clarkesville store) brought in an average of $530,000 each week in the last year. Assume that you conducted the most appropriate test and found the following: Z = 3.32 Lower Critical Value = -2.00 Upper Critical Value = 2.00 P-value = 0.0015 Level of significance = 0.05 ----------------------------------------------------------- 1a) Based on this information, which of the following...
Have you ever wondered how many different ways there are to run a small restaurant? Delivering a sit down eating experience is a common process after all. In Japan it is fairly common to have a sushi restaurant that serves sushi on a conveyor belt! Interestingly, these sushi restaurants are typically very inexpensive. In Boston, there is usually at least one of these restaurants. For example, you could try Enso Sushi, but the sushi there is at least $2 per...
Tobias, Michael, and Gob are hanging out one night at their favorite margarita restaurant and decide that it would be fun if they could spend more time together. The three friends decide to open Go Buy Us Some Coffee. They each contribute some capital to start the business and divide responsibilities based on their strengths—Michael handles the finances, Gob deals with customers, and Tobias manages the employees. Go Buy Us Coffee is an overnight success and the team quickly decides...
Problem 1. You plan to go on a month-long hiking trip, mostly in the forest. You know that you will need a bug repellant. But how much depends on the weather and other factors. From previous experience you know the probability distribution of the number B of bug repellant cans that you will need. It is as follows 0 1 2 34 5 6 7 8 9 10 T P(B02 .03 .05 1 2 2 1 1 1 05 .05...
2. Inputs and outputs Antonio's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Antonio's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Antonio signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Antonio's kitchen cannot fit more than three ovens, Antonio cannot change the number of ovens he uses in his production of...
2. Inputs and outputs Poornima's Performance Pizza is a small restaurant in Denver that sells gluten-free pizzas. Poornima's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Poornima signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Poornima's kitchen cannot fit more than two ovens, Poornima cannot change the number of ovens she uses in her production of pizzas...
Overview JAVA LANGUAGE PROBLEM: The owner of a restaurant wants a program to manage online orders that come in. This program will require multiple classes. Summary class, customer class, order class and the driver class. Summary class This class will keep track of the cost of the order and output a summary, which includes the total for the order. The methods in this class are static. There are no instance variables, and instead uses an Order object that is passed...