Answer: It should shot down immediately.
Explanation:
If the market price is equal to average cost at the profit-maximizing level of output, then the firm is making zero profits. If the market price that a perfectly competitive firm faces is below average variable cost at the profit-maximizing quantity of output, then the firm should shut down operations immediately.
Answer: True
Explanation: The given case does illustrates business acquisition. Business acquisition refers to the process in which one company purchases majority or all of the shares of another company.
In the given case, Laurie corp. purchased Smith inc. and the part of production is then transferred to the purchased company for the ease of operations.
Hence, from the above we can conclude that the answer is true.
Answer:
Specialization is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency. Many countries, for example, specialize in producing the goods and services that are native to their part of the world, and they trade them for other goods and services.
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Goods made domestically and than sent to other countries and sold are called exports
