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White raven [17]
3 years ago
9

Suppose ABC Dairy is one firm competing in the perfectly competitive market for milk. Now suppose ABC Dairy decides to produce o

nly organic milk. Which of the following best describes the effects of this change in the market?
a. ABC Dairy will still be a price taker because it is still operating in a perfectly competitive market.
b. ABC Dairy will have a monopoly on organic milk due to very high entry barriers.
c. The other dairy firms will produce with excess capacity, but ABC Dairy will be efficient.
d. ABC Dairy is differentiating its product and will likely be able to charge a higher price than before.
Business
1 answer:
Sedbober [7]3 years ago
8 0

Answer:

The correct option is D.

Explanation:

In a perfectly competitive market, there are many sellers selling the same product and in this market, firms have easy entry and exit, products are identical in nature from one seller to another and also the sellers are price taker.

So, in this case, ABC firm compete in this market for milk but later on they changed their production to produce organic milk and this change would be described by the effect that ABC firm is differentiating its product from market and they will have a chance to charge high price than earlier.

Therefore, the correct option is D.

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A journal entry includes a debit to Salaries and Wages Expense of $5,000; a debit to Salaries and Wages Payable of $3,000; and a
riadik2000 [5.3K]

Answer: The entry is a reflection cash payment of $8000 which is a reduction of liabilites of $3000 on salaries payable and an expense of $5000 incurred on salaries.

Explanation: The transaction coud be a typical scenario of a payment for salaries previously due provided for while also paying for the presently incurred salaries expense.

4 0
4 years ago
If korean exports to the united states decline by $15 billion, by how much will cumulative korean spending drop if their mpc is
Andrew [12]
Given:
Change in exports: 15 billion
MPC = 0.75

MPC = Change in Consumption / Change in Disposable income

MPS stands for Marginal Propensity to Consume while MPS stands for Marginal Propensity to Save.

MPC + MPS = 1
MPC = 1 - MPS
MPS = 1 - MPC

Spending Multiplier = 1/MPS

Since MPC = 0.75 then MPS = 0.25

Spending Multiplier = 1/0.25 = 4

Change in Export * Spending Multiplier

15 billion * 4 = 60 billion

The cumulative Korean spending will drop by 60 billion.


8 0
3 years ago
I am a rational and risk-averse person, and I have an option of making the following bet: I receive $500 cash, after which I rol
Tamiku [17]

Answer:

I should not accept the bet; the precise level of risk aversion does matter.

Explanation:

Risk averse person is the one who is not willing to take the risk even if he is given high returns. Risk averse person will always avoid the risks. In the given scenario the person is risk averse. If he rolls out the dice he has to pay $200 times the dice number which means he just have two chance (dice rolls 1 or dice rolls 2) for getting return otherwise he will loose the bet and he will have to pay money from the pocket.

4 0
3 years ago
The purpose of applying for a patent is to protect the company's right to
Marizza181 [45]
The purpose of applying for a patent is to protect the company's right to have the idea for yourself and not have people knock it off.
6 0
4 years ago
The way you perceive and process information is based in part on your:
harkovskaia [24]

Your emotions, thoughts, and experiences play a role in how you take in and make sense of the information around you. Option A Emotion is correct

This is further explained below

<h3>What are emotions?</h3>

In general, an emotion is a feeling that may be brought on by the circumstances that you are in or the persons that you are with. Joy, love, fear, fury, and hatred are some examples of feelings.

In conclusion, emotions are psychological phenomena that are triggered by shifts in the way the neurophysiological process was carried out in the brain.

These mental states are uniquely tied to a variety of factors, including thoughts, feelings, behavioral responses, and a level of enjoyment or dissatisfaction. The scientific community has not yet come to a consensus on a single definition for the term "definition."

Read more about emotions

brainly.com/question/14171081

#SPJ1

4 0
2 years ago
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