If the price of a good produced by a competitive firm increases, then the total revenue of the firm will decrease with the decrease in the quantity sold.
<h3>What is the effect of increase the price under the competitive firm?</h3>
The perfect competitive firm is defined as the competitive firm, means there are many firms present in the industry that sell same commodity at same price.
If any firm increases the prices of their product in the market, its revenue also decreases as the another firms sell the same product at the same price. As a result of that, the total revenue of the firm will increase.
Therefore, the If the price of a good produced by a competitive firm rises, the total revenue of the firm will fall as the quantity sold decreases.
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Answer:
Firm B is in the auto rental business. It is not the nation’s largest rental company, but significant barriers to entry enable it to serve customers across the United States more conveniently and at a lower price than local rivals.
Explanation:
For the given options we considered Firm B to be treated as the oligopolist as the firm nor its competitors would have the major impact over the market also there are entry & exit barriers from the market
So the firm B should be chosen as the oligopolist
Therefore the same should be considered and relevant
Answer:
It's important
Explanation:
Because maybe when you stay in hotel and then you have your things then you actually die in accident in the hotel then if someone or forensics or policemen/policewoman want your details she/he will check your room gotel
Answer:
Yes Gordon can sue Floors n' Mores for the settlement of the contract keeping in mind that Gordon has made partial completion of the contract. Full payment would be determined based on the completion of the total work in line withe the plans submitted when the contract was signed
Explanation:
In order to understand the scenario in case if Gordon wants to sue Floors n Mores they can only be compensated for the amount of project completion in line to the expectations that matches to Floors n More.
For Example if 75% of the work is in line with the expectation of Floors N More then Gordon should be paid total amount payable multiply by 75%.
Usually in such cases if the contract is fulfilled to certain extent it is preferred to close the contract based on the %age of completion because major reconstruction, buying of fixtures and furniture was executed. Hence major risks and rewards were transferred to Floors n Mores.
Answer:
Export assistance centre
Explanation:
Rhett has decided to contact export assistance centre. These centres are specifically designed to help US exporters to construct trading strategies. Export assistance centres help new exporters to maintain global strategies and how to compete in the international market. Rhett believes that export assistance centre will help him to develop new expertise in exporting eyeglass frames.