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Papessa [141]
3 years ago
7

A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. the price of each good is $10. calculate

the firm's short-run profit or loss. loss of $6,000 profit of $6,000 profit of $30,000 there is insufficient information to answer the question.
Business
1 answer:
Inessa [10]3 years ago
8 0
Here is your answer: <span>loss of $6,000.</span>
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Suppose there is a 5 percent increase in the price of good X and a resulting 10 percent decrease in the quantity of X demanded.
lilavasa [31]

Answer:

Price elasticity of demand for X=-2

Explanation:

The price elasticity of demand is a measure of the sensitivity in quantity of good demanded in relation to a change in price. It is often used to determine whether a good is elastic or inelastic. An elastic good is a good whose demand changes spontaneously with a change in price while an inelastic good is a good whose change in price doesn't affect the quantity demanded. Most inelastic goods are needs while most elastic goods are luxuries. A need is an item that most people cannot do without even if the price changes while a luxury is a good that most people can do without especially if the price of that good increases.

The price elasticity of demand can be determined using the expression below;

Price elasticity of demand=%change in quantity demanded/%change in price

where;

%change in quantity demanded={(Final quantity-initial quantity)initial quantity}×100=-10%

%change in price={(Final price-initial price)/initial price}×100=5%

replacing;

Price elasticity of demand=(-10%/5%)=-2

Price elasticity of demand=-2

6 0
3 years ago
The concepts of flexibility and real options are closely related to the importance of history and ________ described as potentia
Fittoniya [83]

Answer:

The correct answer is letter "A": path dependence.

Explanation:

Path dependency refers to the stage in which a company does not engage new ventures because it is too familiar with its current processes. Besides, the entity has the belief that continuing with the historical product is has been offering is more cost-effective than engaging in the production of a new good.  

<em>The competitive advantage of the institution remains the same during the whole time which is a weakness because the market of the firm could change but the firm does not implement any measure to keep the pace of the market fluctuations.</em>

5 0
4 years ago
Why do companies practice price discrimination
timofeeve [1]
Its almost the same thing as price gouging but not really

3 0
3 years ago
Read 2 more answers
Starbucks – a matter of ethics!
Sergeeva-Olga [200]

Yes , Johnson was known to have openly acknowledge that his decision was based in ethics and morality as he talked about Starbucks policy that is made to help keep the third place environment in line with their mission.

<h3> Did his apology and actions promote awareness of an ethical issue? </h3>

Yes, Johnson’s apology is one that calls for awareness regarding the issue as he did apologized to the two men who were involved in the case and also carried on some changes to prevent such scenarios from ever occurring again.

<h3> Did it create a positive or negative difference in the communities Starbucks serves? </h3>

The new policy did make a positive atmosphere in the community as it created a free society where people can study,  work and also socialize while option to buying coffee or food.

<h3>Did it make a positive or negative difference for Starbucks employees and customers?</h3>

Yes, it also created a positive difference for Starbucks customers and employees as it portrays a friendly, safe, and welcoming environment set up already for consumers and a place where people can take a nap without any having any set backs. Employees were also given "unconscious bias training" that will be beneficial for the company.

<h3>Did his apology and actions promote awareness of an ethical issue? </h3>

In the issue with Starbucks, Johnson made an apology and the actions is one that boast awareness in regards to ethical issue. In the apology made by him, one can say yes, it formed a positive or negative difference in the communities where Starbucks is.

<h3>Does Johnson explicitly accept responsibility for the incident</h3>

Yes, Johnson explicitly took responsibility for the incident and he also apologizing and told the newsmen that the video was "hard to watch" since the treatment of the black men was unfair and should not have occurred in that way.

<h3> Does he identify ways to collaborate with others when necessary?</h3>

He did identify ways to work collaborate with others when necessary as he meant with the two men involved in the case and also organize a training for his employees.

<h3>Does he show he understands what his role is in fixing this problem?</h3>

Yes he does this is because he made every effort to deflate the issue and also prevent it from every occurring again.

<h3>Did Johnson’s apology and follow-up actions uphold Starbucks’ mission and core values? </h3>

Johnson’s apology and follow-up actions is one that uphold Starbucks’ mission and core values as he did investigate what happened and implement the right thing to do in such situation.  

<h3>Did Johnson clarify his values and the company’s values in his apology and with his subsequent actions?</h3>

In course of issuing his apology, Johnson did clarify his values and the values of the company as he made effort for the training of the staff again and going to Philadelphia to speak to the two men who were involved in a dialogue.

<h3>Did he identify gaps between stated and actual values?</h3>

Yes he did he identify gaps between stated and actual values as he talks about what the company stands for and others.

He finds the gaps between stated and actual values and his apology did help Starbucks employees figure out if their personal values align with the company’s as they were said yo be given training again.

<h3>If you were the CEO of Starbucks, what would you do after such an incident?</h3>

If I am the CEO,  I will makes sure to take the right steps immediately as Johnson delayed a little bit and as such people protested. I will keep the people up to date with information regarding how the issue is been handled.

Learn more about Ethical Conduct from

brainly.com/question/13383200

#SPJ1

7 0
2 years ago
Consider the following questions: Which customers are most likely to renew their subscription to our service at the regular pric
inn [45]

Answer:

The correct answer is predictive analysis.

Explanation:

Predictive analysis uses historical data to predict future events. Normally, historical data is used to create a mathematical model that captures important trends. This predictive model is then used with the current data to predict what will happen next, or to suggest actions to take in order to obtain optimal results.

Predictive analysis has received a lot of attention in recent years due to advances in the technology that supports it, especially in the areas of big data and machine learning.

7 0
3 years ago
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