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IRINA_888 [86]
3 years ago
14

In a market with many sellers, businesses compete for customers by offering _____ and _____.

Business
1 answer:
iVinArrow [24]3 years ago
7 0

lower prices and better product quality

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The campground will make the most economic profit whenit has property rights to a clean lake . True or False: The fish cannery w
babymother [125]

Answer:

hi your question is incomplete here is the complete question

Consider a lake found in the town of Center Barnstead,

The town has a campground whose visitors use the lake for recreation. The town also has a fish cannery that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the fish cannery's waste decreases the campground's economic profit.

Suppose that the fish cannery could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the campground would no longer be affected. If the fish cannery uses the recycling method, then the fish cannery's economic profit is $1,500 per week, and the campground's economic profit is $1,800 per week. If the fish cannery does not use the recycling method, then the fish cannery's economic profit is $2,000 per week, and the campground's economic profit is $1,000 per week. These figures are summarized in the following table.

Action

Profit

Fish Cannery

Campground

Total

(Dollars)

(Dollars)

(Dollars)

No Recycling 2,000 1,000  

Recycling 1,500 1,800  

Total economic profit is highest when the recycling production method is   .

When the fish cannery uses the recycling method, the campground earns $1,800−$1,000=$800$1,800−$1,000=$800 more per week than it does with no recycling. Therefore, the campground should be willing to pay up to $800 per week for the fish cannery to recycle water. However, the recycling method decreases the fish cannery's economic profit by $2,000−$1,500=$500$2,000−$1,500=$500 per week. Therefore, the fish cannery should be willing to use the recycling method if it is compensated with at least $500 per week.

Suppose the campground has the property rights to the lake. That is, the campground has the right to a clean (unpolluted) lake. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method and will pay the campground   per week.

Now, suppose the fish cannery has the property rights to the lake, including the right to pollute it. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method, and the campground will pay the fish cannery   per week.

ANSWER

  • True
  • True

Explanation:

The campground will make the most economic profit when it has property rights to a clean lake : True. this is true because the Fish cannery will be using the recycling method and from the table it is seen that when the recycling method is used The Campground make the most economic profit

The fish cannery will use the recycling method regardless of who has the property right : TRUE . this is because the Fish cannery will use the recycling method anyways because the recycling method would not pollute the water hence not interfering with the campground activities in case they own the property rights.

6 0
3 years ago
Suppose that Italy and Sweden both produce rye and cheese. Italy's opportunity cost of producing a pound of cheese is 5 bushels
mars1129 [50]

Answer:

Italy has a comparative advantage in the production of cheese

Explanation:

Suppose that Italy and Sweden both produce rye and cheese.

Italy's opportunity cost of producing a pound of cheese is 5 bushels of rye while Sweden's opportunity cost of producing a pound of cheese is 10 bushels of rye.

<u>By comparing the opportunity cost of producing cheese in the two countries, you can tell that Italy has a comparative advantage in the production of cheese because it has a lower opportunity cost (as a matter of fact half the cost) in comparison with Sweden.</u>

<u>Comparative advantage is an economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners</u>

6 0
2 years ago
Which careers are apart of the Finance career cluster?
elena-s [515]

Answer:

D, most likely

Explanation:

3 0
2 years ago
Read 2 more answers
From 1970 to 1998 the U.S. dollar Group of answer choices gained value compared to the Italian lira because inflation was higher
balu736 [363]

Answer:

A. Gained value compared to the Italian lira because inflation was higher in Italy.

Explanation:

8 0
3 years ago
Green Thumb Nursery has 53,000 shares outstanding at a market price of $63.57 per share. The earnings per share are $3.57. The f
mamaluj [8]

Answer: $3.70

Explanation:

Earnings per share = Net income / Number of shares

Net income = Earnings per share * Number of shares

= 3.57 * 53,000

= $189,210

The number of shares that Green Thumb bought back is:

= Stock repurchase amount / Market price of shares

= 117,000 / 63.57

= 1,840 shares

After the repurchase the number of shares is:

= 53,000 original shares - 1,840

= 51,160 shares

New EPS = 189,210 / 51,160

= $3.70

6 0
2 years ago
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