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alisha [4.7K]
3 years ago
10

A perfectly elastic demand curve implies that the firm: A) must lower price to sell more output. B) can sell as much output as i

t chooses at the existing price. C) realizes an increase in total revenue which is less than product price when it sells an extra unit. D) is selling a differentiated (heterogeneous) product.
Business
1 answer:
dsp733 years ago
4 0

Answer:

A perfectly elastic demand curve means that the firm can sell as much output as it chooses at the current price.

Explanation:

The perfectly elastic demand implies that the demand curve is horizontal line parallel to the X axis. The price is fixed at a point and the firm can sell any amount of output at this point. The demand is infinite at the given price level. If the firm makes any changes in this price level, the demand will become zero.

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B. its application to real-life organizations

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3 years ago
g Experts suggest that firms wanting to globalize through e-commerce must first localize, which means firms need to ________. A.
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Answer:

C. modify their products and services to meet the needs and interests of local cultures

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4 0
3 years ago
A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Num
Oduvanchick [21]

Answer:

Profit Maximising Quantity = 775

Explanation:

Price P = 35 - 0.02Q

Total Revenue TR = Price x Quantity = P X Q

= (35 - 0.02Q)(Q)  = 35Q - 0.02Q^2

Total Cost TC = 8000 + 4Q

Profit = TR - TC

[35Q - 0.02Q^2] - [8000+4Q]  =  35Q - 0.02Q^2 - 8000 - 4Q

Profit Function = - 0.02Q^2 + 31Q - 8000

To find out profit maximising Quantity , we will differentiate Profit Function with respect to Q & equate it to 0.

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So 775 is profit maximising quantity

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