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kotykmax [81]
3 years ago
10

Consider a competitive market with a large number of identical firms. The firms in this market do not use any resources that are

available only in limited quantities. In this market, an increase in demand will:
a. increase price in the short run but not in the long run.
b. increase price in the long run but not in the short run.
c. increase price both in the short and the long run.
d. not affect price in either the short or the long run.
Business
1 answer:
lozanna [386]3 years ago
4 0

Answer:

a. increase price in the short run but not in the long run.

Explanation:

The firms don't use resources that are available in limited quantities. So, as firm output increases, they can use resources in higher quantity but at the same price.

Therefore, as quantity demanded increases, the firms can supply higher quantity without any increase in resource cost. So, price  increase in short run but not in the long term.

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The shareholders can vote during annual general meetings on matters relating to dividends, membership of the board of directors and investment adviser.

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2 years ago
Abc company sells 4,530 chairs a year at an average price per chair of $175. the carrying cost per unit is $39.27. the company o
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Answer:

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BrainTrust Company produces and sells educational toys for children. In pricing its product, the company needs to make sure it p
gayaneshka [121]

Complete Question:

BrainTrust company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is what percentage of total distribution cost?

a. 50%

b. 75%

c. 30%

d. 100%

Answer:

a. 50%

Explanation:

In this scenario, BrainTrust Company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is 50% of total distribution cost.

In supply chain management, the total distribution cost can be defined as the overall expenses incurred by a manufacturer in the process of delivering finished goods and services from the production stage to the final consumer. The total distribution cost can either be direct or indirect expenses incurred on insurance, handling, storage, shipping, packing and logistics.

<em>Generally, the total amount spent on the movement of goods and services from one location to another, usually accounts for half (50%) of the overall expenses incurred in total distribution cost. </em>

8 0
3 years ago
True or False: If Hubert's Fire Engines were a competitive firm instead and $100,000 were the market price for an engine, decrea
KatRina [158]

Answer:

False

Explanation:

In a perfectly competitive market the sales revenue is based on pricing also. As the pricing policy also plays an important role in the marketing technique to attract customers.

As the quality served is generally the same in the market, there is no issue in that but when the price is reduced expected sales will increase and accordingly the expected revenue also increases.

As the sales is expected to increase the revenue will also increase accordingly, even though the price is reduced, due to increase in sales quantity the expected change shall not be same as that of the change in price.

Thus, the statement is False.

5 0
3 years ago
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