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marin [14]
3 years ago
8

You run a small classroom market experiment with only three buyers and three sellers. The willingness to pay​ (reservation value

) for buyer A is​ $7 for each​ unit; for buyer​ B, it is​ $5 for each​ unit; and for buyer​ C, it is​ $3 for each unit. The willingness to accept​ (reservation value) for seller X is​ $2 for each​ unit; for seller​ Y, it is​ $4 for each​ unit; and for seller​ Z, it is​ $6 for each unit. ​1.) Using the multipoint curve drawing tool​, draw the demand curve for this market. Label the curve appropriately. ​2.) Using the multipoint curve drawing tool​, draw the supply curve for this market. Label the curve appropriately. ​(Hit the​ "Esc" key after you have plotted your last point to exit the drawing​ tool) Carefully follow the instructions​ above, and only draw the required objects.

Business
1 answer:
BabaBlast [244]3 years ago
7 0

Answer:

Please see attachment .

Explanation:

Please see attachment .Please note that the sketch for supply and demand curves  are staircase shaped.

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Why do Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands?
malfutka [58]

Answer:

Explanation:

The main reason for this is to try and position their brand or product in the best way possible within the market. Perceptual maps allow marketers to see how individuals are perceiving the competitive brands as well as their own brands, the markets use this information to determine which position will best benefit their brand in the market and hopefully beat the competition.

4 0
3 years ago
In competitive settings, profits will lead firms to _________________ and losses will lead firms ___________, so the incentives
wel

Answer:

The correct answer is: enter the market; exit the market.

Explanation:

In a perfectly competitive market, there is no restriction on entry and exit of firms. So profits will attract other potential firms to join the market. And when the existing firm incurs losses it will cause them to stop operating and exit the market.  

Because of this, the firms in competitive settings are motivated to produce at a low cost and they come up with new ideas to please customers so that they earn a profit.

5 0
3 years ago
Evert Company makes two types of circuit boards. One is a high-caliber board designed to accomplish the most demanding tasks; th
Allisa [31]

Answer:

The calculation is shown below:-

Explanation:

a. Unit-level activities

Total direct labor hours = 27,000

Total inspection cost = $540,000

Per direct labor hours cost = $540,000 ÷ 27,000

= $20

Allocations

High caliber = 6,000 × $20

= $120,000

Low caliber = 21,000 × $20

= $420,000

b. Batch-level activities

Total number of batches = 40

Total inspection cost = $540,000

Cost per batch = $540,000 ÷ 40

= $13,500

Allocations

High caliber = $13,500 × 20

= $270,000

Low caliber = $13,500 × 20

= $270,000

c. Product-level activities

Total number of inspections = 5

Total inspection cost = $540,000

Cost per inspections = $540,000 ÷ 5

= $108,000

Allocation

High caliber = $108,000 × 3

= $324,000

Low Caliber = $108,000 × 2

= $216,000

d. Facility-level activities

Total number of square feet = 100,000

Total inspection cost = $540,000

Cost per square feet = $540,000 ÷ 100,000

= $5.4

Allocation

High caliber = 30,000 × $5.4

= $162,000

Low caliber = 70,000 × $5.4

= $378,000

4 0
3 years ago
one of the ten principles of economics is that a country's standard of living depends on its ability to produce goods and servic
Ber [7]

The statement is false. According to Ten Principles of Economics the statement is false.

Among the Ten Principles of Economics is that a nation's ability to generate products and services determines its standard of living. Only a country that can create a lot of products and services can have a high level of living. Since American workers are more efficient than Nigerian workers, Americans have a higher standard of living. Because Japanese employees' productivity has increased more quickly than that of Argentine workers, the Japanese have experienced a higher rate of living standard growth. George Mankiw's book Principles of Economics lays out a fundamental set of rules that are economically sound theories that can be verified.

Countries that have had higher output growth per person have typically done so without higher productivity growth.

True

False

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8 0
1 year ago
What is a common element of most budget documents in which the chief executive highlights the major issues, constraints, priorit
vivado [14]

The budget message approach is a formal oral presentation through the government to the council that explains the price range in phrases of dreams to be executed and how the budget pertains to the Comprehensive Plan.

The budget summary includes budgeted quantities, encumbrances, transaction totals, and finances balances and is the net equal to the printed BSR. The budget summary file now additionally includes Open Balances.

A budget proposal summarizes the predicted prices for an upcoming undertaking a good way to ease investment from project stakeholders. Your budget thought breaks down the cost factors associated with your undertaking. This suggests to stakeholders the blessings and/or drawbacks of having worried.

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3 0
1 year ago
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