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Norma-Jean [14]
3 years ago
13

A pretzel-stand owner in Chicago hires workers to make hot pretzels and sell them to customers. If the firm is competitive in bo

th the market for pretzels and in the market for pretzel-makers, then it hasA. no control over the price of pretzels but some control over the wage it pays to its workers.B. some control over both the price of pretzels and the wage it pays to its workers.C. some control over the price of pretzels but no control over the wage it pays to its workers.D. no control over either the price of pretzels or the wage it pays to its workers.
Business
1 answer:
lisabon 2012 [21]3 years ago
4 0

Answer:

D. no control over either the price of pretzels or the wage it pays to its workers.

Explanation:

A competitive market is characterised by many firms that are price takers. Firms that are price takers have no influence over the price they charge for their products; prices are set by the forces of demand and supply.

If the market for pretzels are competitive, the firm cannot set the price for pretzels. If the pretzel stand owner increases the price for pretzels, consumers patronize other pretzel stand owners. There would be no incentive for the pretzel owner to reduce its cost because the pretzel stand owner would be reducing its revenue and reducing its profit

If the market for pretzel makers is competitive, firms have no influence on wages that can be paid to workers.Wages are determined by the forces of demand and supply. If wages are cut, workers move to other firms. There would be no incentive to increase wages because it would increase cost and reduce profit.

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The employees of Cassini Corporation are engrossed in working toward their individual targets. They have ignored the principal a
Yanka [14]

Answer:

B

Explanation:

Goal Displacement is a situation in which the original goals of the organisation have been overtaken by the new goals which have been developed during the course of time. Goal displacement can happen for many reasons and at many levels.Goal displacement occurs when resources are used for a purpose other than for the growth of the organisation.

6 0
3 years ago
Find the present value that will grow to $45,000 if interest is 3.6% compounded monthly for 1 year.
Vaselesa [24]

Answer:

43,411.15

Explanation:

The formula for compound interest is

A = P(1 +I) ^n

From the question,

A = 45,000

P = Unknown

I = 0.036 ÷ 12

n = 1 * 12

Therefore,

45,000 = P(1 +0.036/12) ^1 *12

45,000 = P(1.003)^12

45,000 = 1.0365998P

P = 43,411.15

3 0
3 years ago
The population of Djibouti is approximately 830,000. To serve the communication needs of this nation, there are two FM radio sta
LenaWriter [7]

Answer:

C) economic infrastructure

<u><em>MISSING OPTIONS:</em></u>

A) gross national product (GNP) B) business cycle C) economic infrastructure D) standard of living E) gross domestic product (GDP)

Explanation:

These is not a description of how the people live (standard of lving) nor which are the main activities of the economy who drive them; neither the definition of governemetn spending or consuming thus, it isn't talking about the GNp or GDP

This is a description of how infrastructure is in the country with a focus in telecommunications as it refers to radio and television stations and spmarthphones available for the country.

6 0
3 years ago
With respect to the environment in which a business operates, factors such as competition, political and legal forces, and econo
navik [9.2K]

With respect to the environment in which a business operates, factors such as competition, political and legal forces, and economic climate would all be classified as uncontrollable elements.

What is a controllable element of the marketing environment?

  • To adapt to shifting market conditions, consumer preferences, or business goals, the controllable variables can be changed throughout time as well as typically in the short term.
  • Products, prices, promotions, distribution, and research efforts are among the variables that can be controlled.

What is the macro environment?

The main uncontrollable outside factors (economic, demographic, technological, natural, social and cultural, legal, and political) that have an impact on a firm's performance and decision-making.

Learn more about uncontrollable elements

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6 0
2 years ago
Suppose there is an increase in both the supply and demand for personal computers. In the market for personal computers, we woul
erma4kov [3.2K]

In the market for personal computers, we would expect the Equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.

<h3>What is equilibrium quantity?</h3>
  • When there is no shortage or surplus of a product on the market, it is said to be in equilibrium quantity.
  • When supply and demand meet, the amount of an item that consumers want to buy equals the amount supplied by its producers.
  • The equilibrium price is the only price at which consumers' and producers' plans coincide—that is, the amount consumers want to buy of the product, quantity demanded, equals the amount producers want to sell, quantity supplied.
  • Assume there is an increase in both supply and demand for personal computers.
  • The Equilibrium quantity would then rise in the market for personal computers, while the change in the equilibrium price would be ambiguous.

Therefore, in the market for personal computers, we would expect the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.

Know more about equilibrium quantity here:

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The correct question is given below:

Suppose there is an increase in both the supply and demand for personal computers. In the market for personal computers, we would expect the Equilibrium quantity to ______ and the change in the equilibrium price to be __________

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2 years ago
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