3 years ago

As with all managerial work, arts and

Business

1 answer:

lilavasa [31]3 years ago

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C. Especially art is what they look for

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a. competitor

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Where a new firms decide to supply or produce goods or services that are of close substitute to the ones produced by a firm, such new firms are termed competitors to the old ones. This is because the two firms both new and old will be competing for the scarce resources of the consumer and the market share. Here Panera Bread will be offering goods of close substitute to Rosemarie and Dominique products

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Prior to the 1870s, both gold and silver were used as international means of payment and the exchange rates among currencies wer

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the exchange rate between U.S. dollar and German mark be under this system will be of 3 U$D = 1 german mark

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We will use gold and silver as a mean to equalize both currencies:

First equivalence between silver and gold:

90 francs = 1 ounce of gold

9 franc = 1 ounce of silver

90/9 = 10 ounce of silver equals 1 ounce of gold.

Now, we convert the german mark to gold:

1 german mark = ounce of silver

10 german mark = ounce of gold.

Finally, we equalize with the US dollars:

30 dollar = ounce of gold = 10 german mark

30 dollars = 10 german mark

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