1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mezya [45]
3 years ago
7

When industries are limited by the size of the domestic market, opening trade to the world markets will likely lead to ________

and ________ real GDP per capita in the domestic country. a. diseconomies of scale; increase b. diseconomies of scale; decrease c. economies of scale; increase d. economies of scale; decrease
Business
1 answer:
kari74 [83]3 years ago
4 0

Answer: c) economies of scale; increase

Explanation:

When industries are limited by the size of the domestic market, opening trade to the world markets will likely lead to economies of scale and increase real GDP per capita in the domestic country.

When this industry choose to break out of this limitation placed on them due to the small size of market in their country, the idea of opening trade to the world market would lead to reduction in production costs since they now have a larger market (and thus produce more). Also, the real GDP per capita in the domestic country should increase since the company in this domestic nation has expanded its production to the world market.

NOTE:

Economies of scale occur when the cost of production is now reduced because there is an increase in a company's production.

You might be interested in
Which of the following would be most likely to increase your opportunity cost of attending college? a recession in the economy t
kipiarov [429]

Answer:

To start a job today that would permit you to earn about 50 percent more than you expected to make after graduation.

Explanation:

Opportunity cost is the cost of best next option foregone for choosing the current option. Here, the best opportunity foregone is of earning and starting the job today which will allow to earn 50 % more than what can be earned after completing the graduation, as already for graduation fees will be paid, along with further expenses. In that case if dropping graduation and starting a job was this beneficial then it would have been better.

Therefore the following has increased the opportunity cost of pursuing graduation.

to start a job today that would permit you to earn about 50 percent more than you expected to make after graduation

4 0
3 years ago
The pricing function is an integral part of the companies :
ozzi

Answer:

Yes

Explanation:

Pricing plays an essential role for a product and organisation. At a very basic level, an organisation exists to make profit. A price must cover the cost of a good sold.

Pricing also plays a role in the perception of a product (marketing mix). For example, an Apple product is not cheap because of some perceived value of the product.

Another reason why pricing is integral is in times of competition, it may be worthwhile to use price to take market share from competitors.

8 0
3 years ago
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processin
jekas [21]

Answer:

$142,524

Explanation:

The computation of the total cost assigned to the ending work in process

inventory is shown below:

As we know that

Total cost =  Material + Labor

where,  

Material = 21,400 units × 100% × $3.60 = $77,040

And,

Labor = 21,400 units ×  60% × $5.10 = 65,484

So, the total cost is $142,524

We simply added material and the labor cost according to their completion percentage and its cost per equivalent units

7 0
3 years ago
The purpose of a flexible budget is to:
Ksenya-84 [330]

Answer:

c. update the static planning budget to reflect the actual level of activity for the period

Explanation:

A flexible budget is a  financial plan of expenses and revenues based on the actual level of output. A flexible budget adapts to changes in prices and company needs. Because the budget varies with the market condition, it is called a variable cost.

Due to their variable nature,  flexible budgets are used to update the static estimates at the end of a period. The company compares the actual result in the flexible budget with that of a static budget. The management uses a flexible budget to evaluate the business performance for the period. Specific areas of success and failures are highlighted. Decisions on areas that need improvement can then be made.

8 0
3 years ago
A purely competitive firm should produce in the short run if its total revenue is sufficient to cover its:
Leokris [45]

Answer:

D. total variable costs

Explanation:

A purely competitive firm should produce in the short run if its total revenue is sufficient to cover its <u>total variable costs</u>.

In short run, fixed cost had to be incurred even if it shuts down. So it should operate as long as price is greater than average variable cost.

8 0
3 years ago
Other questions:
  • ritical analysis Q10 Suppose that unexpectedly rapid growth in real income abroad leads to a sharp increase in the demand for Am
    11·1 answer
  • Moorman Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The
    13·1 answer
  • Why are public works projects like the Honolulu Rail project nearly impossible to stop once they have been approved, even if lat
    11·1 answer
  • You bought one of Great White Shark Repellant Co.’s 8 percent coupon bonds one year ago for $1,044. These bonds make annual paym
    9·1 answer
  • Which statement(s) is (are) TRUE? I. Technological knowledge refers to the physical capital that is used to make goods and servi
    11·1 answer
  • Determine the prior Year and Current Year common-size percents for cost of goods sold using net sales as the base.(5 thousands)
    14·1 answer
  • Review and evaluate is an important step in the risk management process because conditions change and mistakes may be identified
    15·1 answer
  • In a period of falling interest rates, a bond dealer would engage in which of the following activities?I Raise prices in interde
    5·1 answer
  • A company with current-year sales of $4,500,000 and cost of goods sold of $3,248,000 reduced its inventory days from 119 days in
    12·1 answer
  • Total Output Price Marginal Revenue Average Total Cost Marginal Cost 1 $ 100 $ 100 $ 100.00 $ 30 2 90 80 63.00 26 3 80 60 52.67
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!