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3 years ago

Explain how self-interest and competition work together to regulate prices.

Business

2 answers:

Katena32 [7]3 years ago

7 0

Answer:

- Self-Interests exist in both customers and the companies who sells the product.

Self-interest held by the companies will determine how much profit that they desire to acquire. Some owner wanted a high profit margin, some wanted lower , etc. Self-interest held by customers will determine the type of value that the consumers expect from the product and how much money they're willing to pay to obtain it.

Both of this will create a push and pull in the market. Eventually, the price will fall to the spot where both sellers and consumers believe as 'fair.'

- Competition is an additional factor to regulate prices that tends to be beneficial for the customers.

The existence of competition make consumers have more than one option in order to obtain a similar product. This <u>make companies have to reduce their self-interest and offer prices that can compete with the competitors.</u>

This tend to bring the prices lower from the initial equilibrium.

qwelly [4]3 years ago

4 0

Answer:

- Self-Interests exist in both customers and the companies who sells the product.

Self-interest held by the companies will determine how much profit that they desire to acquire. Some owner wanted a high profit margin, some wanted lower , etc. Self-interest held by customers will determine the type of value that the consumers expect from the product and how much money they're willing to pay to obtain it.

Both of this will create a push and pull in the market. Eventually, the price will fall to the spot where both sellers and consumers believe as 'fair.'

- Competition is an additional factor to regulate prices that tends to be beneficial for the customers.

The existence of competition make consumers have more than one option in order to obtain a similar product. This make companies have to reduce their self-interest and offer prices that can compete with the competitors.

This tend to bring the prices lower from the initial equilibrium.

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Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothi

natulia [17]

Answer:

Klean Fiber Company

Incremental Analysis for the Special order of 250,500 units of Y-Go undergarments:

Direct materials $2.04 $511,020

Direct labor 0.40 100,200

Variable manufacturing overhead 1.04 260,520

Fixed manufacturing overhead 1.02 255,510

Total costs $4.50 $1,127,250

Fixed manufacturing overhead 1.02 255,510

Incremental costs $3.48 $871,740

Explanation:

a) Data:

Full Capacity = 1,031,000

The per unit and the total costs at full capacity for Y-Go:

Per Undergarment Total

Direct materials $2.04 $2,103,240

Direct labor 0.40 412,400

Variable manufacturing overhead 1.04 1,072,240

Fixed manufacturing overhead 1.44 1,484,640

Variable selling expenses 0.34 350,540

Totals $5.26 $5,423,060

b: In her decision to accept or reject the special order for 250,500 units of Y-Go undergarments by the U.S. Army, the Klean Fiber Company will only consider the relevant incremental unit cost of $3.48 and not the whole unit cost of $5.26. The $3.48 cost excludes the fixed overheads or the selling and administrative expenses.

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3 years ago

Sophie made pies and sold them from her food trailer at businesses. This is an example of a(n)A. direct marketing channel.B. dis

BigorU [14]

Answer:

Letter A is correct.<u> Direct marketing channel.</u>

Explanation:

A distribution channel is the most effective way a company decides to get its products to the end consumer at the right place at the right time. Intermediaries or business chains can be used to get the good to the customer. Some examples of distribution channels are: manufacturer, internet, retailers and shipping centers. Distribution channels can be direct or indirect.

In the case of the above question, Sophie's sales occurred through a direct distribution marketing channel, because this is configured as the one where the consumer can purchase the product or service direct from the manufacturer, there are no intermediaries for the product to reach the final customer. And proper transportation or logistics teams are also used to effectively deliver directly.

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3 years ago

If a firm goes out of business because of negative economic profits, its books

Rainbow [258]

Answer:

The answer is B.

Explanation:

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3 years ago

After the federal government stepped in to keep some businesses from failing, new attention was focused on executive compensatio

olganol [36]

Answer:

lets look at the options and find the correct one!

obviously technology is not related to this at all. so we can cut it off.

Operations is not applicable as an answer as well. it doesn't seem to fit in.

Structure and executive pay are two different things so nope! not that one!

d. people this option is a bit confusing so lets keep it for now.

e. social responsibility seems like fits in too as the government money saves these companies, the companies have a responsibility to have a fair pay towards their executives.

but as the question asks "example of an organization change attempt focused on influencing", in my view the most suitable one would be PEOPLE since the Politicians, tax payers and news media are all trying to do this by influencing people.

Explanation:

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3 years ago

Anniston Company purchased equipment and incurred the following costs: purchase price of $68,500, cost of trial runs for $400, i

Dmitry_Shevchenko [17]

the cost of the equipment is : $72,650

What is incurred?

In accounting, the phrase "incurred" refers to the moment that a transaction or an expense occurs and needs to be documented. To put it another way, it is the precise date that a financial operation occurred and needs to be recorded in the accounting system. Under the accrual method of accounting, the idea of "incurred" is particularly crucial in generally accepted accounting rules. According to this idea, all transactions—regardless of their nature—must be acknowledged (recorded) as soon as they are incurred, regardless of when they were actually paid for. This implies that it is necessary to maintain accurate and trustworthy accounting records.

Learn more about incurred with the help of given link:-

brainly.com/question/26811193

#SPJ4

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1 year ago