Answer:
$105
Explanation:
In a perfectly competitive market, all suppliers and all consumers are price takers. That means that no one has enough market power to either raise or lower the price.
This means that the marginal revenue obtained by selling 15 more packages = 15 packages x $7 = $105
In a perfectly competitive market, the demand curve is perfectly elastic or horizontal at a given market price.
Answer: The correct answer is choice d - =A6 * 2
Explanation: The cell formula in spreadsheets are relative, so when you fill the formula from one row to the row below, it will also change the cells that it is pointing to in the formula down one row. In this case, when the formula B5 = A5 * 2 is filled to cell B6, then it will change to A6 * 2.
The interest rate and how well the product is selling.
Answer:
c. lower the risk of supply disruption
Explanation:
Having multiple suppliers is always a good sourcing strategy, as it <u>minimizes the risk of supply disruption</u>. If one of the suppliers fails to maintain the contract due to various reasons (bad business operating), the risk is dispersed among a few suppliers, so there is the contingency principle applied.
This way, the supply chain never gets disrupted.
Answer: (d.)The bakery faces a flat demand curve.
Explanation:
The bakery faces a flat demand curve because a firm in a perfectly competitive market is a price taker and the demand curve for a firm is equal to the price the supply curve is a part of Marginal cost above Average variable cost , so the supply curve is upward sloping
. The bakery is in the perfectly competitive market so it can earn positive, negative or zero economic profit in the short run and zero economic profit in the long run.
