(Solved by Humans)-Quick Change and Fast Change are competing oil change businesses.
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- Quick?Change?and?Fast?Change?are?competing?oil?change?businesses.?Both?companies?have?5,000?customers?and?currently?make?the?same?amount?of?profit.??The?price?of?an?oil?change?at?both?companies?is?$20.?Quick?Change?pays?its?employees?on?a?salary?basis,?and?its?salary?expense?is?$40,000.?Fast?Change?pays?it?employees?$8?per?customer?served.?Suppose?Quick?Change?is?able?to?lure?1,000?customers?from?Fast?Change?by?lowering?its?price?to?$18?per?vehicle.?Thus,?Quick?Change?will?have?6,000?customers?and?Fast?Change?will?have?only?4,000?customers.?Select?the?correct?statement?from?the?following.?
- ???????????????????????????????????????????????Quick??????????????????????????Fast????????????????????????Rev??????????????????$100,0000???????????????????$100,000????????????????????????Cost?????????????????(??40,000)?????????????????????(??40,000)????????????????????????NI????????????????????$??60,000?????????????????????$??60,000?????????????????????????After?Change??????????????????????????Rev??????????????????$108,000?????????????????????$80,000????????????????????????Cost?????????????????(??40,000)?????????????????????(??32,000)????????????????????????NI????????????????????$??68,000?????????????????????$48,000??
- ????????????
- Quick?Change's?profit?will?remain?the?same?while?Fast?Change's?profit?will?fall.?????
- Fast Change?s profit will fall but it will still earn a higher profit than Quick Change.
- Profits will decline for both Quick Change and Fast Change.
- Quick Change?s profit will increase, and Fast Change?s profit will decrease.
- None of the above.
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This question was answered on: 10 May, 2025
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