What is a company's market share?

"In the summer 2012 the lobster catch in Maine was especially large, but instead of celebrating the fisherman were suffering fro

34kurt

Answer:

Inelastic

Explanation:

The inelastic demand means the demand of the product does not vary when there is much change in the price. Let us assume that if the price is increased by 20% so the demand decreased only by 1% so here we can said there is inelastic demand

Also due to increased in the supply, the demand does not increased that much. So if the price is decreased so the demand does not respond due to which the total revenue comes down

So as per the given situation, having the large quantity caught the revenue is decreased so here the demand should be considered inelastic

4 0

3 years ago

Does a competitive firm’s price equal its marginal cost in the short run, in the long run, or both? explain

DerKrebs [107]

The price of a firm is equal to its marginal cost in both the short and long run. In both the short and long run, price equals marginal revenue. Firms should increase output as long as marginal revenue exceeds marginal cost, and reduce output if marginal revenue is less than marginal cost.

Note that when we are in long-term equilibrium, we are also in short-term equilibrium. In the long run, P = min(ATC), and the entering firm chooses the set with the lowest ATC. The MC curve intersects ATC at min(ATC), so the same quantity has a price equal to MC.

For a perfect competitor, marginal return equals price and average return. This means that the firm's marginal cost curve is a continuous supply curve with values greater than the average variable cost. If the price falls below the average variable cost, the company will be closed.

In a perfectly competitive market, price equals marginal cost in both the short and long run.

Learn more about the firm here brainly.com/question/15130516

#SPJ4

5 0

1 year ago

Lance Brothers Enterprises acquired $515,000 of 3% bonds, dated July 1, on July 1, 2018, as a long-term investment. Management h

Dmitriy789 [7]

Answer:

1st July,2018

investment in bond $515,000 ( debit)

discount on bond investment $80000 (credit)

Lance Brothers paid $435,000 ( credit)

31st, December 2018

cash $7725 (debit)

discount on bond 975 ( debit )

interest revenue is $8700 (credit )

Explanation:

Given data

investment = $515,000

bond = 3%

interest rate = 4%

Lance Brothers paid = $435,000

to find out

investment in the bonds on July 1 and interest on December 31

solution

we know here

on 1st July,2018

investment in bond that is = $515,000 ( debit)

and we know Lance Brothers paid = $435,000 ( credit)

so discount on bond investment = 515000 - 435000 = $80000 (credit)

and

on 31st, December 2018

cash will be = investment in bond × 3% /2

cash = 515,000 × 3% /2

cash = 15450 /2 = $7725 (debit)

interest revenue = Lance Brothers paid × 4% / 2

interest revenue = 435,000 × 4% / 2

interest revenue is 17400 /2 = $8700 (credit )

so and discount on bond = interest - cash

discount on bond = 8700 - 7725 = 975 ( debit )

5 0

3 years ago

Which of the following statements about pay and promotion equality is false?

o-na [289]

Answer: A

Explanation: Just passed the test:)

8 0

4 years ago

The text discusses strategic trade-offs that are different between Walmart and Nordstrom even though they are in the same indust

Radda [10]

<u>Solution:</u>

I have selected Nintendo and Sony as the 2 companies to compare their tradeoffs policies based on their gaming devices as the product of choice. While Sony works towards creating an all-round experience for the people in the terms of creating their game consoles, based on the needs of the players to have a product capable of the best graphics possibility at an affordable price, Nintendo focuses more on the playability factor and the connection their customers have with their brand more than the factor of pricing and placement and as a result, they both have different categories of customer and game players which use their product.

Nintendo focuses on gameplay itself and the environment that supports it while providing hardware capable to achieve the bare minimum requirements while song's product essentially provides the best possible hardware at the price point, allowing them the factor of future upgradability and utilizing the difference in requirements to their advantage, both have tradeoffs with cost, market segment and approachability.

5 0

3 years ago