1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Bigbucks Brokerage provided the taxpayer $2,400 in bicycle commuting reimbursement in 2020. How much of that reimbursement, if a
blsea [12.9K]

Answer:

Bigbucks Brokerage

The whole amount of $2,400 must be included in the taxpayer's income.

Explanation:

The Bicycle Commuting Reimbursement in 2020, given under a Bicycle Commuter Tax Benefit program, is taxable as income to the employee. According to the provisions of the Tax Cut and Jobs Act, the restriction placed on the Bicycle Commuter Tax Benefit will expire in 2026.  The bicycle commuting reimbursement is a benefit that can only be offered by employers and is regarded as a taxable benefit to the affected employee.

5 0
3 years ago
The increasing participation of women in the labor force has been termed the:
Effectus [21]
<span>Women participating in the labor force is known as shattering the glass ceiling. The term originated in the 1980s and refers to woman who are moving up in the business world.</span>
3 0
3 years ago
Why might workers dislike a lean production environment?
Marianna [84]

Answer:

Workers do not like to work in a lean production environment because there are fewer opportunities for an employee to advancement within the company. Pursuant to a leaner production line, more workers become stress due to higher levels of responsibility.

Explanation:

3 0
3 years ago
Read 2 more answers
As companies started to seek scale economies and efficiency, their goal was to take advantage of ­­­­­­­____________ in function
allsm [11]

Answer: e. Both b & d

Explanation:

Economies and Efficiency can be achieved by managing costs better. This can be done by training employees more so that they may use deep skills gained to be able to keep costs low by being more efficient on the job.

A good place to reduce costs would be the common costs. The business can target these costs by optimising them which means to reduce costs while still maximizing output and value. Reducing the costs here would lead to better efficiency.

7 0
3 years ago
1- 26. The county supervisor sends out a survey via U.S. mail asking residents how much they are each willing to pay toward a ne
Ierofanga [76]

Answer:

The answer is option A) Sending out a survey via U.S. mail asking residents how much they are each willing to pay toward a new community swimming pool  is an example of contingent valuation.

Explanation:

Contingent Valuation is a survey based economic valuation technique. This is a method of estimating the value that a group of people places on a good.

The Contingent Valuation approach asks people to report their willingness to pay to obtain a product, or willingness to accept to give up a product.

Just like the case demonstrated above whereby the county supervisor sends out a survey via U.S. mail asking residents how much they are each willing to pay toward a new community swimming pool.  

However, the approach is different in Revealed Preference valuation. Here inference is made from observed behaviors in regular market places.

3 0
3 years ago
Read 2 more answers
Other questions:
  • On January 1, Year 1, Stratton Company borrowed $100,000 on a 10-year, 7% installment note payable. The terms of the note requir
    10·1 answer
  • Which of the following products is most likely to be produced in a process operations system?
    15·1 answer
  • What is gained by using the circular flow diagram to illustrate gdp
    11·1 answer
  • With respect to marketing planning, the type of plan that tends to be very detailed in nature and typically covers a year or les
    9·1 answer
  • Tom is the quality control manager for the company XYZ. XYZ recently received some complaints about its product A's quality and
    12·1 answer
  • Ralph, a director at ZincX Inc., has been sued by the company's shareholders for making a poor financial decision that cost the
    12·1 answer
  • Managers perform an external analysis so that they know about​ ________.
    10·1 answer
  • Bank "A" is offering 2% interest and a $100 debit card on a newly opened savings account with a minimum balance of $1,000 for on
    14·2 answers
  • Line Corporation's balance sheet showed the following amounts for their liability and stockholders' equity accounts: Current Lia
    7·1 answer
  • Which of the following is most likely to cause structural unemployment?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!