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Contact [7]
3 years ago
9

Suppose that a company is a price taker and sells its product for $15 each. This tells us that the firm is participating in the

market structure known as _______________ and that marginal revenue is ___________ for each unit sold.a.monopoly; less than $15b.perfect competition; less than $15c.monopolistic competition; equal to $15d.perfect competition; equal to $15
Business
1 answer:
galben [10]3 years ago
6 0

Answer:

perfect competition; equal to $15

Explanation:

A Perfect competition industry is characterised by :

1. Firms that are price takers - They do not set price but prices are set by the forces of demand and supply.

2. Prices are equal to marginal revenue and average revenue.

3. plenty buyers and sellers.

4 free entry and exist of firms.

A monopolistic industry is chartcerised by :

1. Firms that are price makers.

2. Plenty buyers and sellers.

3. Price and average revenue are less than the marginal revenue

A monopoly is characterised by :

1. Firms that are price makers.

2. One seller

3. Price and average revenue are less than the marginal revenue

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In each of the following examples, name the factor that affects demand and describe its impact on your demand for a new cell pho
Murljashka [212]

Answer:

First of all let's understand what is demand

Demand is the total value of goods and services demanded in an economy during a specific time period at a given price level. It is also referred as the demand for the gross domestic product of a country.

a.

Future expectations:

Since the consumers are expecting the new model in the next year, they would prefer to buy the new model. Thus, present demand for mobile phone would decrease.

b.

Increasing disposable income:

The gift of $500 would increase the disposable income by $500. Since the person’s income increases, they would demand more. Thus, it leads to increase the demand for mobile phone.

c.

Related goods:

Text messaging is complementary goods with the mobile. Since the price of a text message is service price decreases, it leads to increase the demand for mobile.

d.

Preferences:

The friend increases the preferences of buying mobile by describing the positive aspects of new mobile. This increases the person’s interest and he would buy the mobile. Thus, strong preference leads to increase the demand for mobile.

4 0
3 years ago
THE MANAGERIAL ROLE OF A HUMAN RESOURCE MANAGER
Stolb23 [73]

Answer: They oversee the recruiting, interviewing, and hiring of new staff; consult with top executives on strategic planning; and serve as a link between an organization's management and its employees.

Explanation:

8 0
3 years ago
Cushman Company had $812,000 in sales, sales discounts of $12,180, sales returns and allowances of $18,270, cost of goods sold o
Svetach [21]

Answer:

$395,850

Explanation:

Calculation for Cushman Company Gross profit

Using this formula

Gross Profit=Sales-Sales discounts-Sales returns and allowances-Cost of goods sold

Let plug in the formula

Gross Profit = $812,000 - $12,180 - $18,270- $385,700

Gross profit= $395,850

Therefore Cushman Company Gross profit will equal $395,850

3 0
3 years ago
Your coworker Ginny is really concerned about a project that she has just been assigned. She is in charge of analyzing and deter
finlep [7]

If Ginny's boss wants to get the graphical representation of the relationship between the price and quantity of televisions supplied, then he would use th:

  • a. a supply curve

However, if he is interested in the visual representation, then he would have to use the:

  • a. supply schedule

<h3>What is a Supply Curve?</h3>

This refers to the representation of the relationship which exists between the price and supply of a particular good.

With this in mind, we can see that the best way to display the set of data in a graphic format is with the use of the supply curve while the representation of data in a visual format would be the use of a supply schedule.


Read more about supply curve here:

brainly.com/question/26430220

8 0
2 years ago
Frances receives one dollar for every pound of worms she gives her grandfather. which reinforcement schedule is this?
Inga [223]

The reinforcement schedule that is seen in the given scenario above is the fixed ratio. This is a type of reinforcement where in they usually rely on the operant conditioning principles in which an operant conditioning is where the individual’s behavior has changed due to the consequences involved.

7 0
4 years ago
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