Answer:
3821 irjejjejjwjwjwjdjdjskskskskakakakakskaka
Answer: A. equal to marginal cost where it intersects the demand curve
Explanation:
In a pure competition, the market is efficient because it balances demand and supply and gives an equilibrium price that takes both of them into account.
In this market, the price is equal to the marginal revenue of a firm and the profit maximizing level of production is where the marginal revenue intersects the marginal cost.
The efficient level is therefore where price equals marginal cost. The same goes for a natural monopoly. If economic efficiency is to be achieved, the natural monopoly's price must equal the marginal cost at the equilibrium price.
Answer:
Food cost ratio=0,275
Labor cost ratio= 0,25
Total Cost ratio=0,525
Contribution Margin (profit) for the food cost= 9500
Range for a good overall food cost for a restaurant operation=28% - 35%
Part 2:
beverage cost ratio=0.23
range for a good overall liquor cost= 18%-23%
Explanation:
Food cost ratio=Food Cost/Food Sales
=$5500.00/$20000.00=0,275
Labor Cost Ratio = Labor Cost/Food Sales
$5000.00/$20000.00=0,25
Total Cost ratio= ($5500.00+$5000.00)/$20000.00= 0,525
Contribution Margin (profit) for the food cost? Total Sales--Total Costs
=$20000-($5500.00+$5000.00)=9500
What is the range for a good overall food cost for a restaurant operation?
28 % to 35% range
Part 2:
Beverage cost ratio? Beverage Cost/Bar Sales = $1500.00/$6500.00
=0.23
Range for a good overall liquor cost? 18% to 23% range
Answer: personal selling rather than mass media advertising in the promotional mix the firm is using a Standardized strategy
Explanation:
Hope this helps <3