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3 years ago

Tom produces commemorative t-shirts in a competitive market. if tom decides to decrease his output, this will

2 answers:

6 0

In a competitive market, a large number of producers compete with each other to satisfy the needs of their consumers. In here, no one or group of producers can dictate the price. They have only one major decision to make—and that is, what quantity to produce. Therefore, when Tom decided to produce commemorative t-shirts, and decrease his output, This decision did not increase his revenue, since did not lead to higher market price nor the competitors will decrease their output. The answer is C. decrease his revenue, for price remains the same.

nataly862011 [7]3 years ago

5 0

Answer would be C, Decrease his revenue, since his output has decreased and the price remains the same.

Tom produces commemorative t-shirts in a competitive market. If he decided to decrease his output, this will decrease his revenues since his output has decreases and the price remains the same.

When there is a decrease in the quantity of a product produced by the company, the revenues will also decrease because when more quantity is sold, more revenue is generated and vice versa, keeping the price at a constant number.

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Matthew is a divisional manager at Venus Inc. and reports to the CEO of the company. The CEO delegates resources and authority t

ddd [48]

Answer:

A) Information asymmetry.

Explanation:

An information asymmetry can be defined as a situation where there is an imbalance of information between two parties in their knowledge of important points, factors and details. Thus, because one party has more information or knowledge than the other, this usually results in an inefficient outcome and or failure.

The theory of information asymmetry was developed and introduced by three (3) notable Nobel prize winning economists, namely; Michael Spence, George Akerlof and Joseph Stiglitz.

In this scenario, Matthew a divisional manager at Venus Inc. reports to the CEO of the company. Matthew has more employees working for him than required and he has not told the CEO about this, even though there are other departments that are in need of more employees.

Hence, the concept illustrated here is an information asymmetry.

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3 years ago

If employees are told that budgets must be cut by 10 percent, they may automatically assume that 10 percent of employees will lo

Mandarinka [93]

Answer: This tendency to make assumptions is referred to as CLOSURE.

Explanation: CLOSURE is defined as the experience of an emotional conclusion usually to a difficult period. This is usually done bearing in mind that the experience is open to more than one meaning, interpretation or explanation. In this case, the information given to the employees is a polysemy/ambiguous making their assumptions referred to as closure.

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3 years ago

Which of the following is true about a "credit"? I. It is part of the double-entry procedure that keeps the accounting equation

kipiarov [429]

Answer:

III. I, II, III, and IV.

I. It is part of the double-entry procedure that keeps the accounting equation in balance.
II. It represents a decrease to assets.
III. It represents an increase to liabilities.
IV. It is on the right side of a T-account.

Explanation:

The debit-credit balance is necessary for maintaining the accounting equation in balance, i.e. all the debits must have a corresponding credit.

Asset accounts increase when they are debited and decrease when they are credited.

Liabilities accounts decrease when they are debited and increase when they are credited.

Debits are on the left side of a t-account and credits are on the right side.

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3 years ago

(Economics)

bixtya [17]

Entrepeneur is a person who organizes, operates, and assumes the risk for a business venture so a cleaning supplies business is run by an entrepreneur. But a musician also operates a business and assumes risk. In my opinion both are entrepreneurs. But the person with the cleaning bisiness is for sure!

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3 years ago

Read 2 more answers

13. The primary difference between GDP and Real GDP is

professor190 [17]

Answer:

I think option D is correct

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2 years ago