Germaine is operating in a perfectly competitive market. As there are many competing florists, each selling somewhat unique floral arrangements, earning zero economic profits in the long run.
<h3>What is perfectly competitive market?</h3>
Perfectly competitive market is considered when all the competitors have same items and has no influence on pricing, and companies can enter and exit the market at any moment.
The market without restriction, customers have perfect or complete information, and companies are unable to set prices, according to economic theory.
Thus, the situation is of perfectly competitive market.
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Answer:
For the business to make profits
Explanation:
Marginals revenue is the additional income realized from the sale of an extra unit. It is the revenue that a firm will gain by selling one more unit of a product or service.
Marginal cost is the expense incurred in the production of one more unit of a product. A business compares marginal revenue to marginal cost to decide if it will cease or continue with production and selling activities.
For a business to continue selling and make profits, marginal revenue must be greater than the marginal cost. In other words, the revenue realized by selling one extra unit must exceed the cost of producing that item. Selling one more unit when the marginal cost is more than the marginal revenue will result in a loss.
If the marginal revenue from a computer is $40 and the marginal cost is $50, selling on extra computer results in a loss of $10. But if the marginal revenue from the same computer is $60, the sale on one more unit will be a gain of $10.
By staying positive as often as possible, you make others around you positive. By being positive you feel better, more healthy, more confident, and have more courage.
Answer:
A & B
Explanation:
Your income is a asset to value the estimations of your loan application. The loan length, the repayments and negotiate a fixed or flexible interest rate among the loan, depending on the type.