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3 years ago

As the only clothes producer, you will not have _____. competition profits production costs

Business

2 answers:

JulsSmile [24]3 years ago

7 0

The correct answer is A. Competition

Explanation:

In the economy, competition occurs when there are two or more companies or economic firms producing and selling the same product. This causes the companies to implement different techniques to try to sell more than other companies, also, in this case, factors such as price, quality, or place play an important role in defining the sales of each company.

This also implies, if you are the only producer of some good for example, telephones, clothes or sculptures in a specific place such as a town, city or country, you will not have competition because there would not be other companies or people producing the same goods, and therefore you will not have to compete or do anything for buyers to choose you instead of others. Thus, as the only clothes producer, you will not have competition.

Sholpan [36]3 years ago

5 0

COMPETITION because your the only one producing clothes.

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Answer:

a. Acct. receivable % uncollectible Est. uncollectible

1-30 days old $63,000 3% $1,890

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b. Date General journal Debit Credit

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($5,420 - $270)

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3 years ago

During a pandemic, goods and services may become scarce as a result of: A. Unwillingness to purchase goods and services due to f

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Answer: D. Restrictions on travel into and out of affected areas.

Explanation:

Restrictions on travel in and out of affected areas can lead to Scarcity in a Pandemic because there is no free movement of labour and capital.

With borders shut down, goods that were normally imported will suddenly become very hard to acquire because getting them through travel bans is very hard and in most cases, impossible.

Also affected are services as, for instance, the people who provided such services might live in or come from the place they provide said service to. Getting into those areas might prove too cumbersome a task thereby limiting Service provision.

Looking at the current Corona Virus Pandemic that has seen the most extensive Travel Restrictions by Countries in recent times and looking at the Scarcity being suffered by those same countries, drawing the conclusion that the Scarcity is as a result of an impediment to free movement of Goods and Services is most logical.

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3 years ago

Read 2 more answers

Kelsey wants to buy some bananas. one grocery store sells them at 2 pounds for $0.89. another store sells them at 3 pounds for $

MAVERICK [17]

Too find he lowest units price you divide the price per pound by the number of pounds. At the first store it is roughly 44 cents per unit. The second store is about 33 cents per unit. The lower unit price is 33 cents per pound at the second store.

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3 years ago

Suppose the price of hot wings is $10, the price of beer is $1, and the consumer’s income is $50. In addition, suppose the consu

IgorC [24]

Answer:

a. budget constraint intersects the vertical axis at 25 beers.

Explanation:

A budget constraint shows all the combinations that a consumer might purchase of two given products or services. The total consumption can be represented by a consumption possibilities frontier curve:

originally you could purchase 50 beers or 5 hot wings
then as the price of beer increases to $2, you can only buy 25 beers or 5 hot wings

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3 years ago

When tolls on the Dulles Airport Greenway were reduced from $1.75 to $1.00, traffic increased from 10,000 to 26,000 trips a day.

Artemon [7]

Answer:

Price elasticity of demand, $P_{ED}$ = 1.63

Explanation:

We know,

Price elasticity of demand, $P_{ED}$ = $\frac{Percentage change in Quantity Demanded}{Percentage change in prices}$

We will be using mid-point method to calculate the price elasticity.

Here,

Percentage change in Quantity demanded = $\frac{Q_{1} - Q_{0}}{\frac{Q_{1} + Q_{0}}{2}}$ × 100

or, Percentage change in Quantity demanded = $\frac{26,000 - 10,000}{\frac{26,000 + 10,000}{2}}$ × 100

Therefore, % change in Quantity demanded = $\frac{16,000}{18,000}$ × 100 = 88.89%

Again,

Percentage change in price = $\frac{P_{1} - P_{0}}{\frac{P_{1} + P_{0}}{2}}$ × 100

or, Percentage change in price = $\frac{1.00 - 1.75}{\frac{1.00 + 1.75}{2}}$ × 100

Therefore, Percentage change in price = $\frac{-0.75}{1.375}$ × 100 = - 54.55%

Therefore, Price elasticity of demand, $P_{ED}$ = 88.89% ÷ (- 54.55%) = 1.63

We know, price elasticity is always positive. Therefore, we have to give an absolute value for price elasticity.

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3 years ago