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faltersainse [42]
3 years ago
5

AgCo sells corn in a perfectly competitive market. Say the current market price for a bushel of corn is $4.00. If AgCo prices at

$4.10 per bushel for its corn, a. AgCo will sell less corn than other producers but still earn a reasonable profit. b. AgCo will sell no bushels of corn. c. AgCo's total revenue will increase. d. AgCo will maximize profit at that price.
Business
1 answer:
nordsb [41]3 years ago
6 0

Answer:

b. AgCo will sell no bushels of corn.

Explanation:

A perfectly competitive market refers to market has many buyers and sellers will all the market selling the undifferentiated product without any difference.

Some of the others attributes of a perfectly competitive market are that buyers and sellers have perfect information about the price of a good,  no barriers to entry and exit, similar products are being sold, there are free entry and exit to the market, and all sellers are price takers.

All sellers are price takers implies that the price of good is determined or given by the market. Therefore, any attempt to increase the price beyond the price given by the market will result into a zero sale because the buyers will immediately switch to another seller selling at the market price which lower.

Based on the above explanation, AgCo will sell no bushels of corn because its prices at $4.10 per bushel for its corn is higher than the current market price for a bushel of corn of $4.00.

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The following are topics in macroeconomics:

  1. The optimal interest rate for the Federal Reserve to target
  2. The effect of a large government's budget deficit on the economy's price level

The following are topics in microeconomics:

How a quota on textile imports affects the textile industry

<h3>What is microeconomics and macroeconomics?
</h3>

Microeconomics studies individuals and business decisions, while macroeconomics studies the government decisions and its impact on the economy.

Macroeconomics is a top-down approach while microeconomics is a bottom-up approach to analysing the economy.

To learn more about macroeconomics, please check: brainly.com/question/13244131

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4 0
1 year ago
A Japanese insurance company purchases U.S. government securities. From the perspective of the United States, the balance of tra
Helga [31]

Answer:

a. not change; improve

Explanation:

Balance of trade is the difference in value over a period of time between a country’s imports and exports of goods and services,  usually expressed in the unit of currency of a particular country (e.g., dollars for the United States, yen for the Japan).

Balance of payments record the receipts and payments of the residents of the country in their transactions with residents of other countries.

A Japanese insurance company purchases U.S. government securities. From the perspective of the United States, the balance of trade with Japan will not change and the balance of payments with Japan will improve.

7 0
2 years ago
Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom
vodka [1.7K]

Answer:

Their average hourly productivity as a team for chicken breasts will be

45.

Explanation:

Here, it is given that Mike and Tom debone chicken breasts for Ted' chicken company.

Mike debones 30 chicken breasts,

Meanwhile Tom is having his own experience in this work and knows how to calculate the hourly work

So, Tom allows Mike to debone only 60 chicken breasts per hour.

Now its mentioned that both Tom and Mike had worked 40hrs per week.

So, their average hourly productivity as a team will be:

                 frac\ {{30} +{60}} {2}

                    ⇒ 45

So, their average hourly productivity as a team for chicken breasts will be 45.

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3 years ago
The home health nurse teaches an elderly client with dysphagia some strategies to help limit repeated hospitalizations for aspir
Effectus [21]

Answer:

1. "I have to remember to raise my chin slightly upward when I swallow."

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3 years ago
Brad notices that customers at his store prefer certain types of snack foods over others. In response to his customers' preferen
jarptica [38.1K]

Answer:

micro-merchandising

Explanation:

Micro - merchandising -

It refers to the type of merchandising , in which the retrailer alteres the positioning of the goods and services according to the needs and demands of the consumers , is referred to as micro - merchandising .

In this type of practice , the needs and demands of the consumer is the main focus of this merchandising .

Hence , from the given scenario of the question ,

The correct answer is micro-merchandising .

3 0
3 years ago
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