01

The XYZ Company is a profit-maximizing firm with a monopoly in the production of pennants. The firm sells its pennants for $10 e

olga_2 [115]

Answer:

elastic.

Explanation:

A monopolynis defined as a situation where a single supplier produces a good and so control quantity supplied and price of the product. Monopoly maximises profit when price is elastic and marginal revet is positive. When profit is maximised increase in price from that point does not result in increased profit.

On the other hand when a firm is not maximising profit, it is making profit but can take step to earn more. In this situation increase in price will result in higher profits

5 0

4 years ago

"In deciding how to spend an hour of his time, John has identified four activities he can choose from. The opportunity cost of c

mezya [45]

Answer:

False

Explanation:

Since John could not possibly partake in all of the remaining three activities, the opportunity cost cannot be the benefit received from all of the other activities. Instead, the opportunity cost is the benefit he would have received from the next best alternative alone.

5 0

4 years ago

Read 2 more answers

Cathy, the manager of Cathy’s Catering, Inc., uses activity-based costing to compute the costs of her catered parties. Each part

Elenna [48]

Answer:

a. $1,042

b. $1,864

Explanation:

a. The computation of cost of a 20-guest afternoon picnic is shown below:-

Particulars Amount

Advertising $89 ($89 × 1 per party)

Add: Renting equipment $251 ($51 × 1 per party) + ($10 × 20 guests)

Add: Planning $90 ($90 × 1 per party)

Add: Obtaining insurance $155 ($155 × 1 per party)

Add: Preparing foods $320 ($19 × 20 per party)

Add: Serving $140 ($58 × 5 servers)

Total cost of afternoon picnic $1,042

b. The computation of cost of a 20-guest afternoon picnic is shown below:-

Particulars Amount

Advertising $89 ($89 × 1 per party)

Add: Planning $134 ($134 × 1 per party)

Add: Renting equipment $277 ($77 × 1 per party) + ($10 × 20 guests)

Add: Obtaining insurance $430 ($430 × 1 per party)

Add: Serving $395 ($79 × 5 servers)

Add: Preparing foods $540 ($27 × 20 guests)

Total cost of evening formal dinner $1,864

3 0

4 years ago

Gary and Anna are arguing over the best way to organize the storage area. Gary thinks everything should be organized by product

Minchanka [31]

Answer:

say they both make good points but they should decide for themselves

Explanation: When other people are involved in a dispute, it is best to take a neutral stance and not get involved

7 0

3 years ago

Read 2 more answers

A cell phone company introduced its brand-new 5G phone into the market. The phone featured global network capability, the fastes

vodka [1.7K]

Answer:

demand will be low

Explanation:

According to my research on different pricing strategies, I can say that based on the information provided within the question demand will be low. Since they will be charging high amounts the demand will be lower because only a select few amount of people will be able to afford it. Usually their consumer base will be made up of enthusiasts and loyal customers that have supported the brand for years and have a good economic standing. Demand will slowly rise as competition sets in and prices decrease.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0

4 years ago