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
Anettt [7]
3 years ago
6

Which of the following statements best reflects a price-taking firm? a The firm has an incentive to charge less than the market

price to earn higher revenue b If the firm were to charge more than the going price, it would sell none of its goods c The firm can sell only a limited amount of output at the market price befo
Business
1 answer:
MatroZZZ [7]3 years ago
5 0

Answer:

b

Explanation:

A price taking firm is a firm that must sell at the price determined by the forces of demand and supply. This is typical of firms that in industries that sell identical products.

If the firm charges a price higher than equilibrium price, customers would go to other suppliers and the firm would sell known of its product.

There would be no incentive for a firm to sell below equilibrium price because it would be earning losses.

An example of an industry characterised by price taking firms are perfectly competitive industries.

For example, a farmer selling oranges is an example of a price taking firm

You might be interested in
When it is reported that a nation is experiencing a "balance of payments deficit," this is best interpreted to mean that the nat
JulsSmile [24]
<span>When it is reported that a nation is experiencing a "balance of payments deficit," this is best interpreted to mean that the nation is experiencing? If it is reported that the nation is experiencing a balance of payments deific, the country is importing more goods, services and capital than it is exporting. When this happens, the nation has to borrow funds and items from other countries to help pay for what they are importing until the have the cash funds to pay for them, themselves. When this starts the happen, the nation that this is hurting should try and balance their payments and monitor transactions better to eliminate this in the future. </span>
8 0
3 years ago
Read 2 more answers
In Marubeni America Corp. v. United States, the federal appellate court ruled that the Nissan Pathfinder was, for tariff classif
Hitman42 [59]

Answer: the tariffs will vary depending on the classification.

Explanation:

Tariff is a form of tax that is usually imposed on the imports that are brought from other countries to a particular country.

With regards to information provided in the question, the classification of goods is significant because the tariffs will vary depending on the classification.

6 0
3 years ago
Gipple Corporation makes a product that uses a material with the quantity standard of 8.2 grams per unit of output and the price
Sunny_sXe [5.5K]

Answer:

Material price variance     <u>2830 unfavorable </u>

Explanation:

Material price variance

<em>A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favourable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite </em>

Standard material cost of 2                                            $

28,300 grams should have cost (28,300×$6.90) = 195270

but did cost (actual cost - 28,300×$7.00)=               1<u>98100 </u>

Material price variance                                                 <u> 2830  unfavorable</u>

<u />

3 0
3 years ago
Georgina​ Paul, a student of​ economics, was studying the last​ decade's money supply data for her country X. Georgina noticed t
Korolek [52]

The central bank introduced interest rates on checking accounts which induced people to move funds from savings to checking accounts.

Explanation:

Federal legislation restricts the amount of deposits or loans that you may make from a bank or credit union savings or money market account to six per month. When you reach the cap, the bank may charge you a fee — or you can close your account or convert it into a check account.

Another method to transfer funds from investments and bank accounts is through the use of online payment services such as PayPal, Venmo, etc. You must first transfer money out of your savings account to the corresponding payment app wallet and then submit the necessary amount from the bank to the check account.

7 0
3 years ago
__________ is measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that
Sergeu [11.5K]

Marketing control is measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

<h3>What is Marketing control?</h3>
  • The organizational discipline of Marketing control focuses on the effective administration of a firm's marketing resources and operations as well as the practical application of marketing orientation, strategies, and procedures inside enterprises and organizations.
  • To examine the industrial context in which the company operates, Marketing control uses methods from economics and competitive strategy. Marketing control includes value chain analysis, the examination of strategic groups of competitors, and Porter's five forces, among others.
  • When creating detailed competitor profiles, marketers utilize SWOT analysis to concentrate on the relative competitive strengths and weaknesses of each rival in the market.
  • Marketing control will look at each rival's cost structure, profit sources, assets, and capabilities as well as its competitive positioning, product differentiation, level of vertical integration, past responses to market changes, and other elements.

To learn more about Marketing control with the given link

brainly.com/question/17191750

#SPJ4

5 0
1 year ago
Other questions:
  • You invest $1,000 in a fund. You check your statement at the end of April and you have lost 13%. When the statement for May come
    13·1 answer
  • What does the investment component of GDP measure? a. spending on domestically produced goods by foreign buyers b. spending by h
    5·1 answer
  • Country A has real GDP per person of 250,000 while Country B has real GDP per person of 500,000. All else constant, Country A wi
    7·1 answer
  • Someone please help me..
    5·1 answer
  • Bramble Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6
    11·1 answer
  • An industry consists of three firms with sales of $250,000, $825,000, and $315,000. a. Calculate the Herfindahl-Hirschman index
    6·1 answer
  • Perform a horizontal analysis providing both the amount and percentage change. (Round Percentage answers to 1 decimal place. Dec
    10·1 answer
  • The cost, in dollars, to produce x designer dog leashes is C ( x ) = 8 x + 3 , and the price-demand function, in dollars per lea
    12·1 answer
  • If Jordan makes only the minimum monthly payments in March, April, and May, what will his balance be after he makes the minimum
    6·1 answer
  • When workers are asked to participate in a research study, vulnerabilities related to the subject's employment may include:When
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!