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
When working with international firms, U.S businesses expect socially responsible behavior from their business partners.
<h3><u>Why do U.S businesses increasingly focus on international businesses?</u></h3>
American businesses are aware that doing business abroad will boost productivity and broaden their population, which will promote economic expansion. Since the beginning of time, there have been numerous international exchanges, and American businesses now recognize the advantages of offering their services abroad.
To cut costs, some US companies relocate abroad. To grow their business, other companies venture abroad. Many companies can successfully operate on a global scale.
You can learn more about international business using this link:
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Answer:hahah
Explanation:u are so unsmart hahah lol
Net income = revenue - expenses.
The revenue was $100,000 + $19,000 = $119,000
Expenses was $56,000
$119,000 - $56,000 = $63,000
The net income is $63,000.
Answer:
Net income 167,900
Explanation:
Sales revenue 36,000 x $14 = 504,000
Cost of good sold- <u> (230,600) </u>
Gross Profit: 273,400
Marketing expenses (77,000)
Administrative expenses <u> (28,500) </u>
Net income 167,900
Missing information attached.
We subtract the cost of good sold to get the gross profit.
the material, labor and overhead cost are included in the cost of good sold so we don't have to conted again. We will only post the expenses not related to manufacturing department which are, selling and adminsitrative.
