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viktelen [127]
3 years ago
11

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 A. can choose quantity of butter that it produces but not the price at which it sells its butter. B. cannot choose either the price at which it sells it butter or the quantity of butter that it produces. C. can choose both the price at which it sells its butter and the quantity of butter that it produces. D. can choose the price at which it sells its butter but not the quantity of butter that is produces.
Business
1 answer:
Mice21 [21]3 years ago
3 0

Answer:

A. can choose the quantity of butter that it produces but not the price at which it sells its butter.

Explanation:

Taking into consideration the characteristic of the market explained in the exercise we would say that it is a Competitive Market.

One of the characteristics of a Perfect Competitive Market is that the price of the products is determined by the market, which means that no single seller can't change or influence the price on its own.

Hope it helps. Good luck.

You might be interested in
The firm negotiates a new agreement with its workers for lower wages. The ATC curve should be __________ and the AFC curve shoul
WINSTONCH [101]

Lower; unchanged

  • Average total cost (ATC) in economics is calculated as total fixed and variable costs divided by the number of units produced. The normal shape of the average total cost curve is a U, meaning it drops, bottoms out, and then rises. The total cost of an organization is the sum of its fixed and variable costs.
  • The vertical summation of AFC and AVC must be obtained in order to graph average total costs (ATC). Plot the points as shown on the left after adding the two at each output level. Because it is the result of adding the AFC and AVC curves, the ATC curve is higher than the other two. You can see that it is U-shaped, just like the AVC curve, on the left.

Thus this is the answer.

To learn more about curve, refer: brainly.com/question/25109150

#SPJ4

4 0
2 years ago
George secured an adjustable-rate mortgage (ARM) loan to help finance the purchase of his home 5 years ago. The amount of the lo
Minchanka [31]

Answer:

$1,680

Explanation:

during the first 5 years, the monthly payment will = $2,816.18

I prepared an amortization schedule. After the 60th payment, the principal owed = $335,580

the new monthly payment considering that the interest rate fell significantly to 3.5% = $1,680

calculation to determine the monthly payment:

present value of the loan = monthly payment x PVIFA

monthly payment = present value / PVIFA

PVIFA, 0.29167%, 300 periods = 199.7501

monthly payment = $335,580 / 199.7501 = $1,680

Download pdf
4 0
3 years ago
The following is cost information for the Creamy Crisp Donut Company:
SCORPION-xisa [38]

Answer:

Given:

Annual lease = $22000

Annual revenue = $380000

Payments = $120000

Utilities = $8000

Value (entrepreneur's talent ) = $80000

Forgone Entrepreneur's interest = $6000

Therefore, we'll first compute the accounting profit using the following formula :

<em>Accounting profit = Annual revenue - Annual lease - Payments - Utilities </em>

<em>Accounting profit = 380000 - 22000 - 120000 - 8000 </em>

<em>Accounting profit =$230000 </em>

Therefore, the economics profit can be evaluated using the following formula:

<em>Economic profit = Accounting profit - Opportunity cost (Salary of entrepreneur) - Value (entrepreneur's talent) - Forgone Entrepreneur's interest</em>

<em>= 230000 - 50000 - 80000 - 6000</em>

<em>= $94000</em>

5 0
3 years ago
A fall in the u. s. interest rate differential ______ the demand for u. s. dollars
boyakko [2]

A fall in the U.S. interest rate differential <u>decreases</u> the demand for U.S. dollars.

Demand for the dollar is typically excessive as it is the world's reserve foreign money. other elements that have an effect on whether or not or not the dollar rises in value in evaluation to every other foreign money encompass inflation prices, change deficits, and political balance.

Higher interest rates have a tendency to attract foreign investment, growing the demand for and cost of the house American foreign money. Conversely, decrease interest prices have a tendency to be unattractive for foreign funding and reduce the forex's relative fee.

The cost of money is decided through the charge stage. If prices inside the u.s.a. upward thrust faster than the ones of different nations, people will typically count on the foreign exchange value of the U.S. dollar to fall. call for U.S. dollars will lower and delivery will increases.

Learn more about Demand here brainly.com/question/1245771

#SPJ4

4 0
1 year ago
Miranda and Jason are in the tutoring business. Miranda is willing to tutor as long as she gets $20, while Jason will not tutor
Molodets [167]

Answer:

Miranda = $10; Jason = $0

Explanation:

Producer surplus is the difference between the price of a good or service and the least amount a producer is willing to accept for his product.

In this question, the price of tutoring is $30.

The least amount Miranda is willing to accept is $20. Her producer surplus is $30 - $20 = $10

For Jason, the least amount he is willing to accept is $35 which is higher than the price. Therefore, Jason would not accept to teach. As a result, his producer surplus would be zero.

I hope my answer helps you

7 0
3 years ago
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