Answer:
Instructions are listed below
Explanation:
Giving the following information:
For each of the following, indicate the possible effects on demand, supply, or both as well as equilibrium price and quantity of chocolate ice cream.
a. A severe drought in the Midwest causes dairy farmers to reduce the number of milk-producing cattle in their herds by a third. These dairy farmers supply cream that is used to manufacture chocolate ice cream.
Demand: decreases (because of the higher price)
Supply: restrains.
Equilibrium price: rises
Equilibrium quantity: decreases
b. A new report by the American Medical Association reveals that chocolate does, in fact, have significant health benefits.
Demand: increases
Supply: increases
Equilibrium price: rise
Equilibrium quantity: increases
c. The discovery of cheaper synthetic vanilla flavoring lowers the price of vanilla ice cream.
Demand: decreases
Supply: decreases
Equilibrium price: decrease
Equilibrium quantity: decrease
d. New technology for mixing and freezing ice cream lowers manufacturers' costs of producing chocolate ice cream.
Demand: remains
Supply: increase
Equilibrium price:
Equilibrium quantity:
Answer:
tempering
Explanation:
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Answer:
D. Consumption by $80 billion.
Explanation:
Marginal propensity to Save = 1 / MPS
= 1 / 0.2
= 5
= $20 billion × 5
= $100 billion
= $100 - $20
= $80 billion
Therefore, a $20 billion rise in investment spending will increase consumption by $80 billion.
The drawbacks of the method adopted by CarMax were related to target markets and their Core values, market competencies, idea of Test drives before purchase of product, emergence of competitive companies with their Competitive products and development of a sustainable competitive edge.
CarMax is a vehicle retailer organization situated in US. It provides less expensive cars to customers mainly due to the large inventory that it owns. It provides the option of test driving of car before actually selling it. One of the major weaknesses of the CarMax was it outdated inventory management system. Some customers were even not satisfied with their car selling policies. The disruption in emerging technologies and Changing consumer behavior with huge variety of vehicles also posed certain challenges to the delivery services of CarMax.
Learn more about CarMax at:
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