Answer:
False
Explanation:
A firm should end production and shut down only when its total revenue falls below variable costs, because at this point, production will bring about more losses, compared to if the company isn't producing at all.
<u>If total revenue exceeds and can cover its variable cost, a firm should remain in operation in the short run</u> (even if it is incurring losses), as this contributes to paying off the firm's fixed costs.
Answer: reduce output.
Explanation:
In a competitive market, firms do not have control over the price that they sell their goods in the market but they do have control over their costs. It is recommended to produce/ sell goods at a quantity where Marginal Revenue will equal Marginal cost (MR = MC).
In a Competitive Market, Price is the same as Marginal revenue which means that Marginal revenue here is $25 and the Marginal Cost is $26. At this quantity of output, the Marginal Cost is larger than the Marginal revenue.
Company should therefore reduce output to a quantity where Marginal Cost will equal Marginal revenue.
<span>Lost profits are consequential damages. Haddad is right that a buyer may not recover consequential damages that it could have prevented by cover. But Jewell-Rung offered legitimate reasons for not covering: the only Lakeland garments now available to it were those made by Olympic. Olympic would not sell a competitor the garments at reasonable prices. Further, Jewell-Rung could not rely on the quality of the garments manufactured by a different company. Jewell-Rung's failure to cover was reasonable and the company was entitled to prove its lost profits. Jewell-Rung Agency, Inc. v. Haddad Organization, Ltd</span>
Answer: The product life cycle of a unique marketing can be characterized by introduction, growth, maturity and decline.
Explanation:
The product life cycle of a unique marketing can be characterized by introduction, growth, maturity and decline.
Introduction; This is viewed as an entry level into the market. Where the goods begin to gain a little recognition
Growth; this is described as a movement from introduction to a fast or slow consistent rapid growth of the product in the market.
Maturity; is described as the growth from the growth category, where the product gain some market stability and is now known by the public.
Decline; is the stage of slow and loss of recognition in the market space which could be caused by lack of creativity or consistency drop
While some products may stay in a prolonged maturity state, all products eventually phase out of the market due to several factors including saturation, increased competition, decreased demand and dropping sales
Answer: d. mike cannot disaffirm because he has already ratified the contract
Explanation:
When signing deals it's important to consider long term, this helps to make the best decision in any and most scenario. Most deals signed too cannot be reversed or change or adjusted because it'll affect the policy of the organization and won't be health for them. Mike has agreed to buy a property through a spread payment plan, changing the deal now after some years will not be possible as it distorts the plan intially agreed and goes against the policy of the organization selling the home.
