When the level of output, marginal cost is $1 and average variable cost is $1.50. The firm should "produce no output units".
<h3>What is purely competitive market?</h3>
Perfect competition refers to a fictitious market structure. If there is perfect competition, there are no monopolies.
The following characteristics of this kind of structure are crucial:
- All enterprises sell the same product, which is a homogeneous or commodity good.
- Every business is a price taker, meaning that they have no control over the market price for their goods.
- Market share has no bearing on price adjustments.
- The product being supplied and the pricing each business is seeking with in past, present, or future are all completely or perfectly known to buyers.
- Resources such as labor and capital are totally movable.
- There are no fees for businesses to enter or exit the market.
Each genuine market can be categorized as imperfect since they all occur beyond the level of the ideal competition model.
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Answer:
one-to-one marketing
Explanation:
one-to-one marketing includes
-know your customers
-differentiate your customers
-improve customer interactions
-customize the product to the customer.
Answer:
Year 1 = $387
Year 2 = $516
Explanation:
Loan has been granted on 1 April in Year 1 i.e. for a period from 1 April to 31 December = 9 months.
Interest for year 1 @6% = $8,600 X 
= $387
Interest for year 2 will be from 1 January to 31 December =
$8,600 X 
= $516
Therefore interest revenue to be reported by Rosewood Company will be as follows
Year 1 = $387
Year 2 = $516
Answer:
a. Book value is greater than cash received.
Explanation:
Book value of an asset is the cost of an asset less accumulated depreciation
Cash received is the price the asset is sold for.
If the asset is sold for less than its book value, it is sold at a loss
If an asset is sold for more than its book value, it is sold at a gain
B) Added value
Explanation:
Added value - It is an improvement to the product or service making it more worthwhile.
Competitive advantage makes the product or service more desirable than other competitors.
In this scenario, there is no competition of the services as yet, but definitely has an added value by improving the services.
