Answer:
In the long run, the market will supply any amount of the good at the price where P = min. ATC.
Explanation:
Both supply and demand are more elastic in the long run than the short run, which corresponds to a leveling out of the supply and demand curves.
Answer: B
Sales objectives, competitive strategy, and promotional tactic
Explanation:
Sales objectives provides a clear direction for the expected a turnover a firm hopes to achieve over a period of time.
Competitive strategy refers to various strategies Robin hopes to utilize in getting a share from the market share. While promotional tactics refers to the various campaign and publicity aimed at introducing a product to the public.
Robin will hope to utilize this three concepts in order to successfully penetrate a highly competitive food market while also maintaining a certain market share.
A car company that puts more effort into measuring quality than total units sold most likely wants to excel at <span>customer satisfaction. It is a well-known fact that the main demand among people from all over the worlds is to buy goods of best quality. The next thing that we expect is that prices must be affordable. The situation represented in this task is aimed to satisfy our needs, that will lead a company to success in future as they will be recognized and have earned the trust.</span>
Answer:
The correct answer is option C.
Explanation:
At the current market price of $4, the quantity demanded is 20 units.
Last year at the same price the quantity demanded was 30 units.
This means that the price remains constant, the quantity has declined from last year. This indicates that the demand has declined over the year shifting the demand curve to the left.
