1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rainbow [258]
3 years ago
13

When firms are said to be price takers, it implies that if a firm raises its price: a. buyers will go elsewhere. b. buyers will

pay the higher price in the short run. c. competitors will also raise their prices.
Business
1 answer:
MatroZZZ [7]3 years ago
3 0

Answer:

The correct answer is a. buyers will go elsewhere.

Explanation:

This situation occurs when there is competition, that is, other businesses that offer the same or similar products as those of a particular company. In this scenario, the potential buyer will notice the difference according to their previous experiences and will find a way to acquire products from another brand that offer the same satisfaction as the product that rose in price. You must be very cautious with this practice, since it can end up damaging the operation, and in the worst case, leading to bankruptcy.

You might be interested in
During the course of your examination of the financial statements of the Hales Corporation for the year ended December 31, 2021,
Nana76 [90]

Answer:

$35,260

Explanation:

Calculation to Determine the proper amount of net income for 2021

Unadjusted net income $33,000

Adjustments:

a. Insurance expense overstated $2,800

[4,200-(4,200/3)]

b. Sales revenue overstated $(675)

c. Supplies expense overstated $645

d. Interest expense understated $(510)

(12%*17,000*3/12)

Adjusted net income $35,260

Therefore the proper amount of net income for 2021 will be $35,260

3 0
3 years ago
Green Frog is an environmentally friendly firm in the cosmetics industry. Even though Green Frog is environmentally friendly, th
kakasveta [241]

Answer:

D) Growth in earnings per share averaging 15% or better annually for the next five years

Explanation:

First of all, objectives must be well defined and measurable. That is why increasing profitability is a good idea but not a very good strategic objective, since a 0.00001% growth in profits will still comply with it. The same applies with growing market share.

Improving product quality will help improve total sales but it is not a financial objective.

The only financial objective that is precise and measurable is option D, which sets the goal of increasing earnings per share at least 15% every year.

5 0
3 years ago
What is a brand promise?
Burka [1]
Usually, a brand promise is some sort of statement said by an organization to its consumers, or customers, stating what the customers may expect from their product(s) and/or service(s).

Hope this helps!
5 0
3 years ago
Why should all small business owners develop business plans even if they are not required to obtain financing?
NISA [10]

A business plan would help small business owners to know how to operate the business, achieve goals and what activities need to be conducted in case they missed anything out. It helps a business to plan out and conduct business operations.

4 0
3 years ago
Tim Company had sales of $30,000, increase in accounts payable of $5,000, decrease in accounts receivable of $1,000, increase in
ipn [44]

Answer:

$31,000

Explanation:

decrease in accounts receivable = $1,000

Sales = $30,000

Cash collected from customers = Sales plus decrease in accounts receivables

                                                    = $30,000 + $1000

                                                    = $31,000

The decrease in account receivables represents the collection of cash from a customer. If sales amount to $30,000, all must have been collected in cash hence no amount was outstanding to increase receivables. Hence the addition of the two items gives the cash collected from customers.

5 0
3 years ago
Other questions:
  • It's the end of the accounting period and no electric bill has been received (but expense has been incurred. ; you should record
    7·2 answers
  • Adam elects the accrual method of accounting for his business.
    15·1 answer
  • A father wants to save for his eight?year?old son�s college expenses. The son will enter college 10 years from now. An annual am
    11·1 answer
  • Josh and Joe are opening a copy store. There are no competing copy stores in the area. They must decide how to organize the busi
    14·1 answer
  • ___________-reflects the true cash position of the company, and can differ from the balance that reflects the money that the bus
    8·1 answer
  • Andy's business is not able to pay its debts, and the prospects for its finances to improve are slim. Andy decides not to contin
    5·1 answer
  • College Logos buys​ logo-imprinted merchandise and then sells it to university bookstores. Sales are expected to be $ 2 comma 00
    13·1 answer
  • An appraiser has selected a comparable sale that recently sold 85,000 inclusion in an appraisal. The comparabte has bedrooms, ba
    7·1 answer
  • How much do actors make in a year?
    13·2 answers
  • all of the following people would be considered insureds under the liability section of a homeowners policy except
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!