What happens to price when the cost of resources rise and falls

1 answer:

6 0

In any business, when the cost of resources rise, the price of buying the commodity will also be high, this is because when it cost you much to produce a commodity, you will end up charging a higher price when selling it. Failure to do so may lead to making loses. The opposite is also true, when the cost of resources fall, the pricing will also be less.

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In the short run, a monopolistically competitive firm will A. select the rate of output where price equals marginal cost. B. ma

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Answer:

Option D is correct.

Select the rate of output where marginal revenue equals marginal cost

Explanation:

Reason: Profit = Revenue - Cost

To maximize profit we take the derivative. Results in in Max Profit occurring at Marginal Revenue = Marginal Cost

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2 years ago

Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and both states are deciding whether or not to c

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Answer:

B. Wisconsin gains 200, Illinois gains 300

Explanation:

Assuming that one state cleaning the lake does not interfere with the costs and social benefits of the other state (events are independent), Wisconsin will incur 1,200 in costs and receive 1,100 in benefits from its own cleaning and 300 from Illinois' cleaning. Illinois will incur costs of 900 and receive 600 in benefits from its own cleaning and 400 from Wisconsin's cleaning.

The payoff for each state is:

$W = -1,200+1,100+300\\W=200\\I=-700+600+400\\I=300$

Therefore, Wisconsin gains 200, Illinois gains 300.

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2 years ago

Which e-commerce business model used in procurement and sourcing has a seller-operated service that consists of a number of elec

SIZIF [17.4K]

Answer:

The correct answer is: electronic marketplace.

Explanation:

An electronic marketplace gathers sellers and suppliers through the worldwide web who offer their products virtually to fasten the purchase process and reach a larger number of consumers. These characters have a well-structured business even if it is not physical. Their objective is to give consumers to shop online without the need of going to the store in person.

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The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations

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The price of coffee rose sharply last month, while the quantity sold remained the same can be a result of several situations and therefor there are several explanations that are possible:
Demand increased, but supply was perfectly inelastic.
Demand increased, but supply decreased at the same time.
Supply decreased, but demand was perfectly inelastic.

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Whitman and Greene are partners in a real estate venture. At January 1, 2020, their respective capital balances were $200,000 an

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Which describes the cross section of the rectangular prism that passes through vertices A, B, C, and D?

(A rectangular prism with measurements 3 centimeters, 10 centimeters, 6 centimeters.)

a rectangle with two 10-cm sides and two 6-cm sides
a rectangle with two 10-cm sides and two sides that are longer than 6 cm
a nonrectangular parallelogram with two 10-cm sides and two 6-cm sides
a nonrectangular parallelogram with two 10-cm sides and two sides that are longer than 6 cm

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3 years ago