If the congress declares that K and L sales’ equipment can
no longer be exported, this means that the K and L will be dissolved
immediately in which it won’t likely to run or function, not unless the company
open another business or change their own business.
Answer:
The correct answer is option C.
Explanation:
A perfectly competitive firm faces a perfectly elastic demand curve. In a perfectly competitive market, there is a large number of buyers and sellers, such that no single firm is able to affects the price or output level. The demand curve faced by a single firm is a horizontal line.
The market demand curve, on the other hand, is downward sloping. So whatever be the market elasticity of demand, the elasticity of individual firm will be infinite.
For a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
<h3>Why is the relationship between demand and price of prestige products direct?</h3>
The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.
And when the quantity demanded increases, the price tends to increase.
An example of a prestige product is an old car.
Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
Learn more about the demand for prestige products at brainly.com/question/6374886
Answer:
A. $10,000
Explanation:
We know that :
cost of goods sold = opening inventory + purchases - ending inventory
hence,
Ending Inventory = opening inventory + purchases - cost of goods sold
therefore,
Ending Inventory = $15,000 + $45,000 - $50,000
= $10,000
The ending inventory must equal: $10,000
