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makkiz [27]
2 years ago
6

Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considere

d to be competitive, LML does not a. have any fixed costs of production. b. choose the quantity of butter to produce. c. set marginal revenue equal to marginal cost to maximize profit. d. choose the price at which it sells its butter.
Business
1 answer:
Mrac [35]2 years ago
7 0

Answer: d. choose the price at which it sells its butter.

Explanation:

In a competitive market, the individual sellers do not choose a price to sell at but rather the market does. This is due to the high number of sellers in the market so individual sellers do not have bargaining power.  

The price will therefore equal the firm's marginal revenue as well as Average revenue.

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sesenic [268]

Answer:

This is a personal question man

Explanation:

Im sorry, but I can't answer personal questions

Sorry

6 0
2 years ago
When Carolina is in the grocery store buying milk for her children, she picks up a tube of toothpaste at the same time. The toot
yKpoI14uk [10]

A relatively inexpensive item that merits little shopping effort, is called Convenience product.

<h3>What is the Product?</h3><h3></h3>

Product refers to the finished goods or the material that has been converted from the raw material to fulfill the needs of the customer. There are four types of product i.e. convenience goods, shopping goods, specialty products, and unsought goods.

Convenience product is that type of the product which can be purchased with the minimal efforts because it is cheap in value and can be purchased frequently.

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7 0
1 year ago
Nancy owns 10% interest in ABC Corporation and 20% of the outstanding shares of XYZ Corporation. Her son Nick owns 60% of the ou
harkovskaia [24]

Answer:

20%

Explanation:

Ownership of XYZ Corp. in ABC Partnership = 100% of ABC Partnership * Percentage owned by XYZ Corp.

= 100% * 50%

= 50%

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= 10% + (50% * 20%)

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5 0
3 years ago
The Office of Management and Budget ______. Group of answer choices
Serga [27]

Answer Choices:

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D. consents to treaties and  trade agreements negotiated by the President

Answer:

A.

7 0
3 years ago
Read 2 more answers
if business owners want to maximize the value of the company, they should invest in projects that have the .
Komok [63]

Answer:

if business owners want to maximize the value of the company, they should invest in projects that have the greatest value added.

6 0
1 year ago
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