We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Red house restaurant in cranston RI 02905 - Admission/Application Essay Example

Comments (0)
Red House Restaurant Cranston RI 02905 Name: Course: Tutor: Date: Executive Summary Red House Restaurant is situated in Cranston. The restaurant specializes in Chinese cuisine, sushi, and Asian noodles. The company faces competition from other restaurants in the region such as King’s Garden restaurant, China Star and Moon House restaurant…
Download full paper
Red house restaurant in cranston RI 02905
Read TextPreview

Extract of sample
Red house restaurant in cranston RI 02905

Download file to see previous pages... It is therefore vital to study the nature of demand, cost structure and effects of laws and international trade on the competitors in this industry. Analysis of Demand Economists describe demand as an economic principle that describes a consumer’s willingness and ability to pay a price for a specific good or service (Jain and Ohri 28). Price elasticity of demand is the correlation between the change in quantity demanded and price of a commodity. Price elasticity of demand is mainly used to measure the price sensitivity of consumers (Jain and Ohri 56). The restaurant reviews it prices based on the volume of customers, for instance during the festive seasons; there is high demand for foodstuffs therefore the restaurant exploits on this to increase the prices by a considerable margin. During such times, the consumers may be indifferent to the prices being charged by the restaurant since they are prepared to spend. During hard times, the restaurant is forced to review their prices downwards since the quantity demanded decreases. See figure. Demand Curve Price D3 D2 D1 Quantity D1 No Price elasiticity ( This is during peak seasons such as holidays) D2 Low Price Elasticity ( During normal periods) D3 High Price Elasticity ( During hard economic times) Cost Structures Cost structures refer to the classification of the costs incurred by a company in production of goods or provisions of services. For the production of products, the costs cover the growth of the idea, acquisition of raw materials and the actual creation of the product. A cost structure therefore covers the costs associated with each step in the process. The related costs are classified as either fixed or variable costs. Fixed costs include direct labor, manufacturing overhead, administrative overhead, warranty claims, and administrative overheads. Variable costs on the other had include direct materials, commissions, production supplies, piece rate wages, staff wages, bonuses, payroll taxes, travel expenses, entertainment expenses, direct materials, commissions, production supplies, and the discounts taken (Jain and Ohri 35). These are costs incurred by the restaurant on a day-by-day basis. Cost Structure (Shut down ) Price per unit(dollars) 11.05 MC 10.35 ATC AVC 9.65 8.95                 8.25         Shutdown point 0 10 20 30 40 50 60 70 80 90 Q The shut down point of the business is at the lowest point of the average variable cost curve. At this point the business may shut down and stop operation. average variable cost, the company is at a point of indifference i.e. between continuing operations and shutting down. Market Structure The Red House Restaurant operates in perfect/pure market structure. This market structure has many players who do not possess the individual power to influence prices. It is described as a perfect market since there are no entry and exit barriers to the establishment of Chinese restaurants in the region and most of the restaurants are in the business due the profit motive. The products sold among these restaurants are also homogenous and there are many consumers for the products. There is also a perfect mobility of factors of production in the area. The consumers in the area are also aware of the prices and quality of the foods sold by the restaurants in the area i.e. there is perfect information. In this kind of economic condition, most of the players are “ ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
A day in my life
A Day in my Life Every day of the week, my alarm clock, goes off at 4am. Each day is an early start for me, whether it is study, prepare for work, or prepare my baby’s things for the day. However, this does not mean that getting up is easy, and sometimes, the clock’s incessant ringing has me at the end of my tether.
3 Pages(750 words)Admission/Application Essay
Personal Statement for MBA Program
Since I know the only way for me to achieve my goals is by getting a solid education in my area of expertise, I need to attend an MBA program that offers me the
3 Pages(750 words)Admission/Application Essay
Evaluating italian restaurant
As we are British, we love the idea of having Italian wine, pasta and sauces. As we arrived at “La Italia” for the dinner I noticed that the exterior of the restaurant is as elegant as its good will in the town. Since we have reservation, we were
3 Pages(750 words)Admission/Application Essay
Random House
New entrants into the industry are a greater threat to smaller book publishers than they are to larger and more established ones. However, the larger publishers need to worry about existing
3 Pages(750 words)Admission/Application Essay
Active Learning Module 7
The sadistic behavior of Gacy was first noticed in 1964, after getting married to Marilynn Myers. While working as a manger in a restaurant owned by his father-in-law, Gacy somehow managed to lure a young boy to the back office, attempting to
1 Pages(250 words)Admission/Application Essay
Business continuity for the White House security staff
The details of the Government plans have been kept secret due to security concerns. Therefore business continuity of the security staff in the White House means the coordinated efforts and means by systems and personnel to make sure
4 Pages(1000 words)Admission/Application Essay
SOCIAL WORK IS THE SUBJECT Personal Statement Grad Application
My father has worked a social worker for over 25 years in a series of compassionate organizations. As I grew up, he worked as the director of the Federal Hill House Association in Providence RI. During this
5 Pages(1250 words)Admission/Application Essay
In general, the book portrays Carter as an egoistic, ambitious, and know-it-all person who had trouble dealing with criticism and external pressure. Cater writes that he
6 Pages(1500 words)Admission/Application Essay
Application essay- Fiance MFS
I’m an international student from Saudi Arabia. I graduated from high school in my native country; however, the upcoming summer I’m getting my bachelor degree at Roger Williams University in Bristol, RI. My current major is finance and my GPA is
1 Pages(250 words)Admission/Application Essay
Let us find you another Admission/Application Essay on topic Red house restaurant in cranston RI 02905 for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us