Given scenario: Person X is the owner of the small company which provides heating oil to business customers and residential customers in the rural country. Person X is a respected member of the community. Due to energy efficiency and a move away from oil heat, the profits are cut down to nothing. Person X hired Person H for the post of marketing manager. During the prior heating season, due to increase in the oil prices, customers are comfortable to pay more than $2.60 per gallon. However, Person H stated that providing the special offer (pricing $2.40 per gallon) helps to give more profit. To determine: The role of supply and demand in the scenario.

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I'm a senior majoring in Business Management at University. Weakness: Performed all 4 years in my High School’s Talent Show - Situation: - Task: - Action: - Result:

Answer 1

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Chapter 1, Problem 1.19EE

Summary Introduction

Given scenario:

Person X is the owner of the small company which provides heating oil to business customers and residential customers in the rural country. Person X is a respected member of the community. Due to energy efficiency and a move away from oil heat, the profits are cut down to nothing. Person X hired Person H for the post of marketing manager. During the prior heating season, due to increase in the oil prices, customers are comfortable to pay more than $2.60 per gallon. However, Person H stated that providing the special offer (pricing $2.40 per gallon) helps to give more profit.

To determine: The role of supply and demand in the scenario.

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