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s2008m [1.1K]
3 years ago
6

Assume there is an increase in the number of consumers in the market for a good sold by perfectly competitive firms that are ini

tially producing the profit-maximizing level of output. For the individual firm, this would result in:a. a decrease in price and increase in the profit-maximizing quantity of output.b. an increase in both price and the profit-maximizing quantity of output.c. an increase in price and decrease in profit-maximizing quantity of output.d. a decrease in both price and the profit-maximizing quantity of output.
Business
1 answer:
Nutka1998 [239]3 years ago
7 0

Answer:

Option (B) is correct.

Explanation:

Number of consumers in the market is one of the determinants of demand which shifts the demand curve.

In a perfectly competitive market, if there is an increase in the number of consumers in the market then as a result the demand for the product also increases which shifts the demand curve rightwards.

This rightward shift in the demand curve will result in an increase in both equilibrium price and equilibrium quantity which is also a profit maximizing quantity of output.

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Answer:

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Explanation:

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First step is to calculate the amount earned by each employee

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Using this formula

Numbers of Security hired=Security workers labor cost /Amount earned

Let plug in the formula

Numbers of Security hired=$23,520/$1,120

Numbers of Security hired=21 security workers

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The following data is available for Box Corporation: Common stock, par $10 (authorized 30,000 shares) $250,000 Treasury stock (a
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Answer:

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Explanation:

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Consider the following restaurants: Pizza Hut, Popeyes, and Taco Bell. When conducting a review on any business, the first thing
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Answer:

Strengths:

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Weaknesses:

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Opportunities:

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the business should work on:

The company has to focus more on new product development. Further, it is recommended to customize the taste of the product according to the local needs. Also, if the overhead cost is reduced by implementing modern and more economical infrastructure facility. The company has to make sure that, the facility also attract more customers. This would be added advantage to provide more offers and discounts to the customer. Hence this would increase customer satisfaction and bring more loyal customers.

Explanation:

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