If a concession stand received $5,550 in gameday sales, and its profit for the event was $3,330, what were the expenses?

The right choice among the options provided is; "<span>c. price, quantity demanded".
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The demand curve is a graphical tool that depicts the relationship between the price of a good and the quantity demanded. Generally, the price appears on the vertical axis to the left, while the quantity demanded is represented along the horizontal axis. There exists an inverse relationship between these two variables, indicating that as the price goes up, the quantity demanded decreases.

Answer: 90 days and 4.06 times

Explanation:

The short-term operating cycle is calculated by adding Average production process time + Days goods are held + Days Accounts receivable are due]

= 40 + 15 + 35

= 90 days

With a 365-day year, the cycle will turnover;

= 365/90

= 4.0556

= 4.06 times

Explanation:

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Response:

13.33 years

Clarification:

The duration required for an investment to recover its original expenditure is known as the payback period. For projects yielding consistent cash inflows, the payback period can be calculated using the following formula:

Payback period = Initial investment/cash flows

Here, the initial investment equals $2,000,000.00

cash flow = extra sales per year plus savings on utilities

= $125,000 + $25,000 = $ 150,000

thus, the payback period = $ 2,000,000 / $ 150,000

= 13.33 years

Answer:

In New York, if 1 Dollar is equivalent to €0.7809 while in Paris it equates to €0.7793, traders can capitalize on this currency discrepancy for profit. They would purchase Euros in Paris and subsequently sell them in New York, earning a profit of $0.016 for each Euro exchanged. For instance, trading €1,000,000 would yield profits amounting to $16,000. Conversely, if traders engage in transactions at both locations for the same amount, there would be no profit earned since the exchange rates would be equalized.