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3 years ago

In monopolistic competition, which of the following would make an individual firm's demand curve less elastic?

Business

1 answer:

NARA [144]3 years ago

5 0

Answer:

The correct answer is option c.

Explanation:

In a monopolistic competition the firm faces a downward sloping demand curve. There are a number of firms in the market which are producing close substitutes. So, the firm faces an elastic demand curve. Which means that the quantity demanded will fall when there is an increase in price level.

Though if people have certain degree of loyalty toward the firm's product, the consumer will prefer the product even when price increases.

So, the loyalty towards brand will make the demand curve less elastic.

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FromTheMoon [43]

Answer

x and y axis representing

Explanation:

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4 years ago

Describe major laws that are responsible for consumer protection, and the entities that have responsibility for oversight.

Sholpan [36]

Answer:

Major consumer-protecting laws are:

Explanation:

1. Major federal Act Section 5- This legislation specifies that all firms are required to treat the customer equally and must not be at any disadvantage because of their exploitative treatment.

2. Fair Credit Report Act- This statute guarantees that it is treated equally and safely by all companies handling customer data. It makes sure that no unethical sharing of such information with any 3rd person takes place.

3. Financial Modernization Act - This legislation mandates all commercial banks in the United states to include it in principle how they safeguard and manage customer data securely.

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3 years ago

Sales revenue $440,000 Advertising expense 60,000 Interest expense 10,000 Salaries expense 55,000 Utilities expense 25,000 Incom

Sever21 [200]

Answer:

Lake's operating income is $120000

Explanation:

Operating income is the income generated by the operations of company less its operating cost. Another name that is used for operating income is Earnings before interest and tax (EBIT). The charges or income relating to non operating or financing activities is not included in the operating income and nor is the tax deduction included.

The formula for operating income = Sales - Cost of Sales - operating expenses.

The operating expenses here, are = Advertising + Salaries + Utilities

Thus, operating expenses = 60000 + 55000 + 25000 = $140000

The Operating Income = 440000 - 180000 - 140000 = $120000

8 0

3 years ago

A local bookstand believes that the demand for the Olympic edition of a sports magazine is normally distributed with a mean of 1

atroni [7]

Answer:

1,304 copies

Explanation:

Overage cost (Co) means like cost of over ordering

Co = Cost price - Salvage value

Co = $1.50 - $0 (No salvage value)

Co = $1.50

Underage cost (Cu) means like cost of under ordering

Cu = Selling price - Cost price

Cu = $5.00 - $1.50

Cu = $3.50

Service level = Cu / (Cu + Co)

Service level = $3.50 / ($3.50 + $1.50)

Service level = $3.50 / $5.00

Service level = 0.7

Z-value = NORMSINV (Service level), Using Ms Excel

Z-value = NORMSINV (0.7)

Z-value = 0.52

Optimal Order Quantity (Q) = Mean Demand + (Z-value*Standard deviation)

Optimal Order Quantity Q = 1,200 + (0.52*200)

Optimal Order Quantity Q = 1,200 + 104

Optimal Order Quantity Q = 1,304 copies

7 0

3 years ago

Depending on a person's _____, he or she may be held to a higher standard of care.

nalin [4]

I believe it’s Profession

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3 years ago