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TiliK225 [7]
3 years ago
15

Mike is a sole proprietor who buys, sells and repairs kilns and other equipment used in pottery making. He has an arrangement wi

th K&M, a large equipment maker, to sell K&M's kilns in both his own name and in K&M's name and to receive payments from customers. Mike's relationship with K&M is that of a ________________. Group of answer choices a) Independent contractor b) Special agent c) Broker Factor.
Business
1 answer:
Artyom0805 [142]3 years ago
6 0

Answer:

c) Broker Factor.

Explanation:

A broker factor is an agent that sells goods that are from someone else for a comission and this person takes possession of the products that is selling. Also, a broker factor can make a sell in his/her name and has authorization to receive the money from the sale. Because of this, Mike's relationship with K&M is that of a broker factor.

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Suppose that widgets are produced by a monopolistically competitive industry. If each firm in this market has the same cost stru
natulia [17]

Answer:

The equilibrium number of firms is 20.

Explanation:

Q = SH × b

   = 2,400 × (1/20)

   = 2,400 × 0.05

   = 120

Also given, Q = S / n

                120 = 2,400 / n

                  n = 20

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Market economies operate on the principle of supply and demand.
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What do we do when there is a fire? The branilest answer
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2 years ago
For a differentiation strategy to strengthen a company's strategic position and boost its competitive advantage, ______.
Tanya [424]

For a differentiation strategy to maintain a company's strategic situation and increase its competitive advantage an increase in value creation much surpass the increase in costs.

<h3>How does a differentiation strategy benefit in gaining a competitive advantage?</h3>

Differentiation gives a party two advantages:

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-It can help the firm to grow overall need and capture market share from its rival.

A generic strategy attempts to convince clients to pay a premium price for its good or services by supplying unique and desirable features. Using a differentiation strategy suggests that a firm is contesting based on uniqueness, rather than price.

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4 0
1 year ago
The market for plywood is characterized by the following demand and supply equations: QD = 800 – 10P and QS = 50P – 1,000, where
Sunny_sXe [5.5K]

Answer:

$3,750

Explanation:

at $25 per sheet of plywood:

total demand = 800 - (10 x 25) = 800 - 250 = 550

total supply = (50 x 25) - 1,000 = 1,250 - 1,000 = 250

the equilibrium price is:

800 - 10P₁ = 50P₁ - 1,000

1,800 = 60P₁

P₁ = 1,800 / 60 = 30

the equilibrium quantity (Q₁) is:

Q₁ = 800 - (10 x 30) = 800 - 300 = 500

at 250 units, the price should be:

250 = 800 - 10P₂

10P₂ = 550

P₂ = $55

total deadweight loss = 0.5 x  (P₂ - P₁)  x (Q₂ - Q₁) = 0.5 x  ($55 - $25)  x (250 - 500) = 0.5 x $30 x -250 = -$3,750

7 0
3 years ago
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