Answer:
The value of a product is determined by the ratio of its quality to its price. The higher the value of a product, the better will be its competitive position. ... The value of a product is determined by the ratio of its quality to its price. The higher the value of a product, the better will be its competitive position.
Answer:
Option B is correct.
Explanation:
In order to answer this question correctly, we first need to understand the law of demands.
Law of demands: It says that the relationship of price and quantity demanded is inversely proportional. It means if the price of a particular product goes high, then the quantity of demand will be reduced. Similarly, if the price of the product is low then the quantity of demanded will be higher.
Here,
Option B is the most relevant to the Law of Demand which says that Kathleen eats more steak when the price is low. It means when the price is low, the quantity of steak demanded is higher in Kathleen's case. Furthermore, Kathleen eats less when the price is high. It means, when the price of steak is higher then the quantity of steak demanded from Kathleen is low.
Hence, Option B is the correct option which fulfills the law of demand.
Answer:
Option A : Because at zero profit, with her revenue, she can cover all her costs—explicit and implicit (opportunity cost).
Explanation:
Perfectly Competitive Market
This is simply a market the market participants are said to be price takers that is no consumption decisions by individual consumers and no production decisions by individual producers can be able to affect the market price of a good.
Perfectly Competitive Industry
This is simply an industry where producers are said to be price takers.
Explicit Costs
These are costs that are simply known as "out-of-pocket" costs or in accounting costs. They are an individual's fixed and variable costs of doing business.
Implicit Costs
These are costs that do not partains to monetary payment as they are the opportunity costs of doing business.
It is said that at zero profit, the revenue covers all the costs, including the implicit ones. The fact that her implicit costs are covered shows that no outside option or opportunity that is superior to the zero economic profit option is chosened.
<span>She might jump to a solution before correctly diagnosing the problem. This might cause a continuation in the loss of employees, while still costing the business excess revenue. If she diagnoses the problem correctly, then she can work out a proper solution that may mitigate the turnover problem.</span>
Answer:
The annual amortization expense for 2019 will be $35000.
Explanation:
The amortization expense for the patent calculated based on the useful life of patent. The purchase of value of $235000 plus $10000 gives the total value of $245000 while use the patent of 7 years.
The formula for amortization expense = (Cost of patent - Residual value ) / Useful life of patent)
amortization expense = ($245000-0)/7 = $35000
The legal life would not count due patent in business use for limited life compare to legal life of patent.
