Answer:
B. should shut down.
Explanation:
In the short run, if price is less than average variable cost, the firm should shut down; cease production temporarily. It would be better for the firm to shut down than to continue production and earn losses. If output is increased, average variable cost increases and loss increases.
A perfect competition firm is a price taker so it cannot adjust the price for its products.
Answer:
a. competitor
Explanation:
Where a new firms decide to supply or produce goods or services that are of close substitute to the ones produced by a firm, such new firms are termed competitors to the old ones. This is because the two firms both new and old will be competing for the scarce resources of the consumer and the market share. Here Panera Bread will be offering goods of close substitute to Rosemarie and Dominique products
The correct answer is: [C]: "business process model" .
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FALSE. Cartels are NOT CORPORATIONS that control almost all of the production and sale of a single product.
A cartel is an agreement between competing firms to control prices of goods. They may also come into agreement to hinder the entry of a new competitor.
A cartel rises in an oligopoly. This means that few sellers are in the market and these sellers control the price and production of various goods.
