If a firm's marginal costs <u>fall</u>, then its <u>price falls.</u>
This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.
On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.
Hence, in this case, it is concluded that "If a firm's marginal costs <u>fall</u>, then its <u>price falls</u>."
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The extra $2 that you saved on the $4.50 you were willing to pay for it represents consumer surplus. Consumer surplus is the difference between the total amount that a consumer is willing to pay for a good or service versus what they actually pay for the good or service. The $2 represents what the consumer was willing to pay for the milk.
Answer:
b) A central bank is expected to achieve a 3% annual inflation rate
Explanation:
Inflation targeting is a type of monetary policy where the central bank of a country sets an inflation rate as its goal or target.
Answer:
Option B Depreciation expense
Explanation:
The allocation of cost of the plant and equipment for the period being used is the concept of depreciation and is a period cost because when the asset is purchased its value decreases gradually with time which means some of the machinery value would be deminish during the year depending upon the technological factors, life of the equipment, etc. So the period cost will arise regardless of that we either use the asset or not which is the definition of period cost which in this case is depreciation cost and the allocation of cost of plant and equipment over its useful life is also depreciation cost.
Armon apparels designs, manufactures, and distributes athletic apparel and accessories for men and women. the company has only nine distributors across the united states. these distributors control a nationwide network of 600 retailers. the company does not sell its products through other channels. this is an example of selective distribution.
Which of the following descriptions is the most complete and accurate description of a click-only business? These are companies that previously did not exist as businesses and started websites. A major US retail chain has decided to expand its business by adding an online e-commerce site.
In this channel, scaffold manufacturers sell their goods directly to customers. An example of a ZERO LIMIT channel is a factory outlet store. Many service providers, such as vacation companies, bypass traditional retail intermediaries, and travel agents, and sell directly to consumers.
If the company decides to use a commercial agent instead of the company's sales representative, which of the following problems is most likely to arise? becomes difficult.
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