Answer:
Joint Demand
Explanation:
The joint demand is created when the uniqueness of one part of the complete set of product is innovative and triggers sense of differentiated product in the mind of customers. This sense of quality generates demand for the whole of the product.
Answer:
400,000
Explanation:
7% of what number = 28,000
(0.07)(X) = 28,000
X = 400,000
(which is less than 700,000. But that makes sense because not everyone living in Michael's city is necessarily part of the labor force. Some could be kids in school, others grandparents who have retired, others people who stay at home and don't work.)
1. Another beauty salon opening up across the street that offers lower prices. They would steal away any customers you have that aren't loyal to your business alone.
2. A chance to move to a different location that may be bigger or smaller. It's a huge opportunity to reach more customers, but could also threaten your business due to the sudden change in size, not knowing anyone in the area, and the chance that people hadn't heard about your salon.
<span>Predict trend
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hope it helps!</span>
Answer:C. The current price of the product covers the variable cost of production.
Explanation:A perfectly Competitive market is market where all firms produce similar product,and none of the firm's is superior,all the firm's are price takers as they can not influence the market price.
A perfectly Competitive firm is a firm whose product demand changes at the slightest change in the price of the product,any firm that is perfectly Competitive will work with the already existing price level of the market for its products and services, a perfectly Competitive firm is also known as spruce taker as it is expected to sell According to the existing market price.
ALEX'S OPINION Will BE SUPPORTED IF TRUE ONLY IF THE CURRENT PRICE OF THE PRODUCT COVERS OR IT IS HIGHER THAN THE VARIABLE COST OF PRODUCING THE PRODUCT.