In most cases, the business owners are <u>unwilling to take the time</u>. Market research is incredible important when running a business, and by not doing it, you are going into a market that you have no idea about. This can hurt the business in the short-term because they won't know which demographics to serve, how the location they're in contributes to their sales, what products or services are popular, and if there is a lot of competition in their market. All these can have negative impacts on the business and it's why market research is so important!
It can also be because <u>they don't know how to do it</u>. Most business owners don't really know how to research demographics and competition, so they tend not to do it, or hire others who how to do it.
Consumer surplus drops when a good's price rises while keeping everything else constant.
<h3>What is consumer surplus ?</h3>
Consumer surplus is a financial estimate of the benefits that consumers receive from market competition. When customers pay less for a good or service than they would be willing to, this is known as consumer surplus.It measures the extra benefit that consumers get from paying less for something than they would have been prepared to.
In order to quantify the social advantages of public goods like national highways, canals, and bridges, the idea of consumer surplus was created in 1844. It has been a crucial tool for welfare economics research and government tax policy development.
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The answer in the space provided is the mutual benefit
organizations as this is the one responsible of advancing the members’
interests in which is a voluntary collective. This is an organization or
corporation that are non profited and are being established in ways that will
be of benefit to the people involved.
Answer:
fixed cost per unit,
Explanation:
Fixed cost is cost that does not vary with output. It remains constant regardless of the units of output produced. An example of fixed cost is rent.
fixed cost per unit = fixed cost / output
Let us assume that rent (fixed cost) is $500. When output is 1 unit, fixed cost per unit = $500 / 1 = $500
when output is 2 units, fixed cost per unit = $500 / 2 = $250
when output is 10 units , fixed cost per unit = $500 / 10 = $50
Answer:
b. deliver the goods to a particular destination.
Explanation:
Under the delivery contract when there is a contract between the buyers and sellers, the seller is obligated to deliver the good to a particular destination. After delivery to the destination the seller's obligation to the buyer ends.
So the contract between Timber Mills corporation and Ur-Choice Lumber yards, the supplier must deliver the goods to a predetermined location.
