Answer:
Nominal GDP in year 1 = $16
Nominal GDP in year 2 = $25
Nominal GDP in year 3 = $36
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
Nominal GDP is GDP calculated using current year prices
Nominal GDP in year 1 = 4 x $4 = $16
Nominal GDP in year 2 = 5 x $5 = $25
Nominal GDP in year 3 = 6 x $6 = $36
Answer: A. It has a competitive advantage in the industry
Explanation:
From the question, we are informed that the average cost of production for a bottle of water in the industry is 0.20 cents while its average price is 0.50 cents and that Water Inc. manufactures the same product for 0.10 cents while its average price is 0.40 cents.
The scenario shows that Water Inc has a competitive advantage in the industry. This is seen as the bottle of water is produced at a cheaper cost wen compared to its rivals.
Answer. C Binding price floor that creates a surplus
Explanation: A government imposed price of $12 in this market is an example of a binding price floor that creates a surplus as the government has fixed the price of the goods as $12 due to which the floor price is fixed and the surplus is created as the price is too high that the demand of the goods decreases. This intervention by the government is to create surplus by binding the floor price.
This is an example of <u>Competitor Analysis</u>
- An evaluation of the advantages and disadvantages of present and future rivals is known as competitive analysis in marketing and strategic management. In order to recognize possibilities and risks, this analysis gives both an offensive and a defensive strategic perspective.
<h3><u>What information should a competitor analysis contain?</u></h3>
- A competitive study should look at the attributes, market share, prices, marketing, differentiators, strengths, and weaknesses of your rivals as well as their locations, cultures, and consumer feedback.
- This article is for small company owners, both new and experienced, who wish to research their rivals to enhance their goods or services.
To learn more about Competitor Analysis, Click the Links.
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