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Alexxx [7]
3 years ago
7

A "price taker" is a firm that Question 8 options: does not have the ability to control the price of the product it sells. does

have the ability, although limited, to control the price of the product it sells. can raise the price of the product it sells and still sell some units of its product. sells a differentiated product. none of the above
Business
1 answer:
Masja [62]3 years ago
6 0

Answer:

Does not have the ability to control the price of the product it sells

Explanation:

A price taker is a firm that doesn't have the ability to control the price of the product they sell.

Price taker exist in a perfectly competitive market where individual firms cannot dictate prices of goods and services.

A perfectly competitive market is characterised by

1) presence of large number of buyers and sellers.

2) There is free entry and exit.

3) Sellers sell homogenous product, that is, identical product.

4) Buyers have access to information.

In contrast to price taker, we also have price makers who have the ability to control the prices of product they sell.

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Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company
Monica [59]

Answer:

$91

Explanation:

Given the following information,

Direct materials per unit = $54

Direct labor per unit = $20

Variable overhead per unit = $6

Fixed overhead for the year = $462,000

For Absorption costing method, it includes all costs associated with production, including fixed and variable cost. The unit product cost is calculated using direct material, direct labor and total unitary manufacturing overhead.

Unitary cost = (Fixed overhead for the year / Units produced) + Direct materials per unit + Direct labor per unit + Variable overhead per unit

Unitary cost = ($462,000 / 42,000) + $54 + $20 + $6

Unitary cost = $11 + $54 + $20 + $6

Unitary cost = $91

Therefore, the product cost per unit is $91

5 0
3 years ago
What do you think about the 7dream concept for seven- eleven japan? from a supply chain perspective, is it likely to be more suc
VashaNatasha [74]
The Seven Dream concept of the Seven Eleven convenience store is a good supply chain concept that targets e-commerce customer. While most of the e-commerce portal are successful these days, 7 Dream comes as an unique inception. This allows customer to order via online and collect from the store deliveries at their convenience as well. The concept is seem to be more preferred in Japan, where customers have preference towards store delivery of the shipped goods. In fact, the 7- eleven in Japan is more successful than any other countries where the franchise has its stores open.

From the supply chain perspective, I think 7dream concept will be more successful in Japan than in USA. The reason being the urban customer of Japanese market and convenient access  for them to store and pick up. For place like USA, where population is sparsely distributed to large area, this supply chain concept will not be very effective. For Suburban population, this model will be very inconvenience as they have to drive a long way to store to collect their deliveries, which they could have easily got home delivered via other such services. 

6 0
3 years ago
Why does a taxminusdeferred retirement account accumulate more money than a taxable​ account, assuming the same amount is contri
skad [1K]

Answer:

Simply because tax-deferred accounts are taxed only when the investor receives or withdraws money from them. For example, a 401 (K)'s interest and capital gains are not taxed until the beneficiary retires and starts to receive payments, and that may take a long time.

It is not the same to be taxed immediately, because that reduces the amount invested. For example, you invest have $100 to invest and your income tax rate is 22%.

  • a tax-deferred account that earns 5% per year will earn $5, and then the principal will increase to $105 for the next, and keep earning more money.
  • a taxable account will only have a $78 after taxes are paid, and if it earns 5%, then it will only earn $3.90 at the end of the year, and the principal will increase to $81.90.

8 0
3 years ago
Both buyers and sellers are price takers in a perfectly competitive market because
Paladinen [302]

Answer:

The price is determined by government intervention and dictated to buyers anti sellers each buyer and teller knows it it illegal to conspire to affect price.

Explanation:

A perfectly competitive firm is a price taker, which implies that it must acknowledge the equilibrium price at which it sells products. In the event that a perfectly competitive firm attempts to charge even a modest sum more than the market price, it will be not able make any sales.

7 0
3 years ago
As it advances on the ________, Boston Market has added pickup, delivery, and full-service catering to its original restaurant f
Andre45 [30]

Answer:

d. retail positioning matrix  

Explanation:

In the example, it is noted that Boston Market has added value to its original restaurant format (with pickup, delivery...) on the one hand. On the other hand, they broadened the product line with the grocery foods. The two factors imply the axes of the <em>retail positioning matrix.</em>

The <em>retail life cycle</em> is an often confused topic that is similar to the <em>product life cycle</em> (which is related to products and services exclusively) conceptually.  It consists of the following phases: innovation, growth, maturity and decline. Although this example can be correlated to the <em>innovation </em>phase of the retail life cycle, we cannot pinpoint the Boston Market's place on the retail life cycle curve, as we do not have info about its competitors, market share and other external info. Therefore, we cannot detect whether the company is in its up or down phase.

The <em>wheel of retailing</em> is an irrelevant concept, which refers to the tendency that most retailers enter a market in an extremely competitive manner (low cost, for example) and then becomes more exclusive (high cost, better reputation...).

3 0
3 years ago
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