It basically means that, if you are a shareholder of a certain business, you are only a liability up to the extent where your shares hold you to
Answer:
The internet has radically affected international business.
Explanation:
First, the internet has made it easier for firms to engage in international business and trade because it reduces barriers to entry, facilitates communications, and becomes a vehicle for the creation of new economic sectors.
Second, the internet has made competition between companies more stiff in some sectors, but has resulted in the formation of oligopolies, duopolies, and even monopolies in other sectors, especially those that are very intensive in all kinds of capital, from human capital to technological capital, to financial capital.
Third, the internet has made the concept of appropriability more important because intellectual property has gained more importance, and also because the internet has made it easier to engange in intellectual property theft.
Finally, managers can protect the proprietary technology of their firms by using the most advanced tools of virtual security and protection, this is why many computer scientists are hired in this sector.
Answer:
Demand Curve is same as Average Revenue (AR) curve.
Total Revenue, Marginal Revenue, Average Revenue have been solved below
Explanation:
The demand curve that Vesoro faces is identical to 'Average Revenue' <u>curve</u>. As, AR curve represents average price (P) buyers are willing to pay for a quantity of a commodity.
Average Revenue (AR) is total revenue (TR) per unit quantity. AR = TR/ Q. Total Revenue is the total revenue for all quantities, TR = P x Q
So, Average Revenue = (P x Q) / Q = P ie price. This states that average price willingness to pay is same as AR, demand curve is AR curve.
Assuming perfect competition constant price = $5
Q P TR= PxQ AR= TR /Q MR (marginal revenue = TRn -TRn-1)
0 5 0 0 _
1 5 5 5 5
2 5 10 5 5
3 5 15 5 5
