Suppose you manage a local grocery store, and you learn that a very popular national grocery chain (Whole Foods or Walmart) is about to open a store just a few miles away. Use the model of monopolistic competition to analyze the impact of this new store on the quantity of output your store should produce (Q) and the price your store should charge (P). What will happen to your profits? Please show graphically and explain your reasoning in detail. For example, how and why do profits change? How can that be seen on the graph?
Answers
Answer: The answer is given below
Explanation:
The entry of a new firm will lead to the reduction in the demand for the existing firm, thereby reducing the output and price. Also, in the long run when the new firm enters the market, this will lead to the supernormal profits to be driven down. The firms are price makers, faced with a demand curve that is downward sloping. Because each firm makes a product that is unique, it can either charge a lower or higher price than its rivals.
As the new firms enter the market, the demand for the product of the existing firm becomes more elastic, the demand curve will shift to the left, which drives down the price. All the super-normal profits will be gone. So, change in the elasticity effects profits .
For the market shares constant innovation to be defended, proper marketing is required. The monopolistic competition is based only on product differentiation . When new variety and innovative products are launched, this may attract consumers which will lead to increase in demand and drive up the profits.
Related Questions
Jessica own a 10 acre property rents to a local sheep rancher for $10,000/year. She wants to use this money to expand her business by building a mall for $4 million. Jessica’s total implicit costs of the expansion plan are: A: the cost of construction of mall and fixed costs of the mall. B: the foregone rent and the cost of the mall. C: the foregone $10,000 from the sheep rancher.
Answers
Answer:
C) The foregone $10,000 from the sheep rancher
Explanation:
Implicit costs are also known as the opportunity costs. Opportunity costs refers to the cost associated with the choice. Opportunity cost also refers to the benefit that is foregone by selecting or choosing some other alternative.
Here, in our case, there is loss of income (of $10,000 per year) from renting that property to a local sheep rancher by choosing to expand her business.
Hope this helps!
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List at least six possible areas that might be included on an externship evaluation form.
Answers
Answer:
•Initiative
•Administrative task
•Maturity
•Appearance
•Attitude
• Dependability
Explanation:
Externship is a programme offered to college students which forms part of their work experience in relation to their course of studies. It affords student to have work experience during their educational study.
The externship evaluation form is a form used by supervisors to assess the performance of students who have undergone externship programme. It contains areas such as how matured is the student on the job, gives explanation of the student's appearance throughout the programme. It also confirms whether the student is dependable based on his experience during the programme, how well the student makes use of his initiative without being told what to do etc.
Your Insurance company bills you $687.89 every 6 months for your premium payments. You decide to pay per month.
What is the monthly premium?
Answers
Answer:
$114.65
Explanation:
If you divide $687.89 by 6 months you'll get $114.64833333333333333 but if you simply you'll get 114.65 and you'll only pay $0.11 over.
Answer:
114.65
Explanation:
Accounting businesses, babysitting businesses, and hairstyling businesses are all examples of what
businesses ?
Answers
Answer:
A single proprietorship business is the answer
Explanation:
A single proprietorship is an unincorporated business owned by an individual and often managed by that same person.
Answer:
1 proprietorship business.
In compliance with new policies, banks increased rate of interest on housing loans. Gregory’s real estate business started suffering losses because fewer people borrowed home loans. What risk did his business suffer from?
______ risk held back Gregory’s real estate business.
Answers
Answer:
Economic
Explanation:
This is one of the external risk that is a result in changes in the market conditions.
This is correct on Plato
Credit risk held back Gregory's real estate business.
What is rate of interest?Interest rate is the percentage at which interest is paid on a loan or the percentage earned on an investment over a certain period of time. It is the cost of borrowing money or the rate at which one can earn money on an investment.
The interest rate is typically expressed as an annual percentage of the principal, and it can be either fixed or variable. When the interest rate is high, the cost of borrowing is high, and this can make it more difficult for individuals and businesses to obtain loans, which can have a negative impact on the economy. Low-interest rates, on the other hand, can make borrowing more affordable and stimulate economic growth.
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what is the tribal assistance coordination group (TAC-G)?
Answers
Tribal Assistance Coordination Group or TAC-G is a Multi-Agency Coordination (MAC) group that assists Federally Recognized Tribes during emergencies and disasters, as well as providing information and technical assistance, for tribal emergency management programs.
What do you understand about Tribal Assistance Coordination Group?The Tribal Assistance Coordination Group or TAC-G is a Multi-Agency Coordination (MAC) group that assists Federally Recognized Tribes during emergencies and disasters, as well as providing information and technical assistance, for tribal emergency management programs.
The TAC-G consists of partners from all levels of government as well as non-profit aid organizations and the private sector. The TAC-G is identified as a unique coordinating structure in the National Response Framework and is instrumental in executing the responsibilities of the Tribal Coordination Support Annex (TCSA) in the NRF’s Emergency Support Function.
The goal of the TAC-G is to provide a focused point of coordination or one-stop-shop” for tribes being impacted by emergencies or disasters.
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Given half a chance, other people at work will take advantage of you.
Answers
Jamal purchased a Subway franchise in a great location across the street from an outlet mall. After two years in business, Jamal felt that he would like to offer his customers more products to choose from. He expanded his Subway business to include ice cream and a small smoke shop specializing in cigars. This product line expansion was very successful. As a result, profits went up and customers loved the new options. One day Jamal received a visit from the Subway franchisor who was shocked to see the product line expansion. This resulted in the Subway franchisor giving Jamal 30 days to restore his Subway business to the terms of the franchise agreement contract which limits the product line to only Subway products. Using the model below, help Jamal get back into compliance with the Subway franchise agreement. Define the problem Explain the cause (or causes) of the problem. Explain the effects the problem has had on the company. Provide a solution (or solutions) to the problem.
Answers
The correct answer to this open question is the following.
Although the question is incomplete because it does not attach the model to answer it we can comment on the following.
The problem is that Jamal, trying to increase profits, decided to sell two different products that are not part of the Subway products. When the franchisor visited Jamal's location, it realized the changes and set an ultimatum to Jamal to respect the franchise agreement.
The cause of the problem is that although Jamal wanted to diversify the products to have more income, this contradicts and is against the franchise agreement he signed when he bought the Subway franchise. The contract clearly states that the owner of the franchise can only sell products authorized in the contract by Subway. That is exactly one of the characteristics of a franchise. That you visit one of them any place in the world, and you are going to find de the same products with the same quality. That is the product guarantee of a franchise like Subway.
So the effects for the company are that its reputation an image can be questioned for selling different products that are hot approved by Subway. It is a major risk the company is not going to allow. Furthermore, it is stated in the contract. So Jamal has no right to break it.
One possible solution is that Jamal respects those 30 days to make the proper corrections, follow the guidelines established in the Subway's manuals, offer a sincere apology, and commit himself to operate the franchise just as it is stated on the agreement.
Explain the challenges sole proprietors face when considering whether to expand their business.
Answers
Answer:
• Difficulty in obtaining finance
•Unlimited liability risk
• Assuming too many roles
• Heavy decisions making burden
•Going concern
Explanation:
• Difficulty in obtaining finance is one of the many challenges faced by sole proprietors as he seek business expansion. The risk involved in being a sole proprietor is much hence lenders often find it difficult to finance their business.
•Unlimited liability risk is also a challenge against business expansion for a sole proprietor because he faces the risk of loosing his personal assets and that of the business should the business goes bankrupt or liquidate.
• Assuming too many roles poses as challenge to a sole proprietor as he expand his business. In this case, he becomes the manager, customer attendant, cashier etc all of which will become burden on his as the business grows.
• Heavy decisions making burden. A sole proprietor is responsible for making all the decisions regarding his business hence will affect the business as it expands. Some business decisions requires professional advice else the business will collapse in the long run which is often the case with sole proprietors.
• Going concern is an accounting principle which states that a business will continue to exist and into the foreseeable future which is not the case with a sole business owner as his death ends the existence of the business hence a factor against business expansion.
I’m marking the brainliest :))
Answers
Answer:
anything below 40 is right, so it's A
Answer:
Choice A
Explanation:
It is 40 degrees or colder.
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Which of the following can send a live stream of updates to your website from your social media sites?
A webcam
A streaming app
A widget
A newsfeed
Answers
Answer:
A webcam
Explanation:
Streaming is the process of accessing, watching, listening to music or video in the 'real-time'. It does not mean that the video or audio is downloaded and then watched or listened to. The file is not downloaded, rather it is just streamed online. A webcam is a device that is used to build the links of the videos to function like a videophone. It is used to record videos that can be further used to stream them on any social media platform.
Answer:
A widget
Explanation:
What feedback would you give concerning the sourcing of this information? *
Employers are raising their standards when it comes to bringing on new talent. 74% of companies reported increasing the level of education they require for new hires, according to a survey conducted by Northeastern University.
Source:
Northeastern University: https://www.northeastern.edu/graduate/blog/masters-degree-benefits/
Answers
Answer:
well im not in business school or learning about it but i can giv emy best shot! so if i were to give feedback to this i would say WOW
Explanation:
When there is inflation, a person can definitely expect
many banks to close.
the purchasing power of money to decrease.
a high number of companies to go out of business.
a high rate of unemployment.
Answers
Answer:
the purchasing power of money to decrease.
Explanation:
Inflation, in economic terms, refers to the rise in the price of the goods and services for a certain period of time. The value of money is decreased.
With the commencement of Inflation, the purchasing power of the money falls. With the rise in the price, the monetary value of the money decreases which leads to purchase fewer goods and services.
Answer:
the answer is b. Or not, its your choice
Explanation:
[as]
Compared to a checking account, the rules governing your
use of a savings account are generally more:
Negotiable
Intuitive
Restrictive
Liberal
Answers
You are concerned about inflation eroding your college savings. You should put your money in an account that offers
A: an interest rate lower than inflation
B: an interest rate higher than inflation
C: low balance transfer fees
D: FDIC insurance
Answers
Answer:
Option B
Explanation:
In simple words, the given case relates to the time value of money. As the inflation in the economy rises the price level also rises leading to lower value of the money in the accounts.
If a depositor gets interest on his or her savings more than the inflation rate than they will get their money worth as per the standards of the inflation. Thus, we can conclude that the correct option is B.
Answer:
Option B: An interest rate higher then inflation
Explanation:
PLEASE HELP ASAP, TRUE OR FALSE FOR EACH STAR
*A court of appeals hears evidence to decide the facts.
*When a party alleges a fact, it means that fact has not yet been determined by the jury to be true.
*A judge instructs a jury on the law that applies in a case.
*Decisions by higher courts in a state are not binding on lower courts within that state's jurisdiction.
*Judges may apply the law, but they do not have power to change the law.
*The U.S. Constitution is the supreme law in the United States and no other law can contradict it.
*Litigation is the process of resolving a dispute through the court system.
*The trial court, which first hears a case, is known as a court of original jurisdiction.
*Although cases may be similar, one important fact can change the outcome and create new precedent.
*Appellate Courts review questions of fact but not questions of law.
*The Uniform Commercial Code has been adopted in all fifty states.
Answers
Answer:
1. False: A court of appeals hears evidence to decide the facts. They do not listen to evidence to decide the facts because appeal isn't a retrial of the case.
2. True: When a party alleges a fact, it means that fact has not yet been determined by the jury to be true.
3. True: A judge instructs a jury on the law that applies in a case. It is known as jury instructions.
4. False: Decisions by higher courts in a state are not binding on lower courts within that state's jurisdiction. There decisions are actually binding on lower courts within that state's jurisdiction.
5. True: Judges may apply the law, but they do not have power to change the law.
6. True: The U.S. Constitution is the supreme law in the United States and no other law can contradict it.
7. True: Litigation is the process of resolving a dispute through the court system.
8. True: The trial court, which first hears a case, is known as a court of original jurisdiction.
9. True: Although cases may be similar, one important fact can change the outcome and create new precedent.
10. False: Appellate Courts review questions of fact but not questions of law. The appellate court can review questions of law as "De novo" or plenary review (legal error standard).
11. True: The Uniform Commercial Code has been adopted in all fifty states.
Erica is CEO of a company and has recently hired a vice president of marketing. She would like to share this information with all three thousand employees. Erica should _____. send an e-mail to all employees use diagramming software to create a chart type a word-processing document and print it call each employee
Answers
Answer:
The correct answer is send an e-mail to all employees.
Explanation:
The correct answer is send an e-mail to all employees.
I am going to explain the why of each options.
call each employee
There are three thousand employees. There is just not enough time to call each employee.
send an e-mail to all employees
The most practical way, as it takes just the time to write the email and send to a list containing all employees.
type a word processing document and print it
use diagramming software to create a chart
With these alternatives, most of the employees would not see the information.
Isabel is creating a wireframe she has drawn a layout for the home page along with outlining the navigation elements she now wants to represent content and a banner for the home page what should she use?
Isabel should use (???) to show where the content and banner will go
Answers
Answer: Filler Content
Explanation:
I think what the question is getting at is using filler content. This includes filler images and sample text. Once the website is all set up, the filler content is replaced with the actual content.
Answer:
the correct answer is placeholder
Explanation:
right on plato :p
The chart shows the marginal revenue of producing apple pies. A 3-column table titled The return on pie production has 8 rows. The first column is labeled Pies produced per day with entries 0, 1, 2, 3, 4, 5, 6, 7. The second column is labeled Total revenue with entries blank, 10, 20, 30, 40, 50, 60, 70. The third column is labeled Marginal revenue with entries blank, 10, 10, 10, 10, 10, 10, 10. According to the chart, the marginal revenue decreases by ten dollars as production increases. increases by ten dollars as production increases. falls to zero dollars as production increases. remains the same as production increases.
Answers
Answer:
Remains the same as production increases
Explanation:
The marginal revenue is the additional amount of money earned for every additional unit of pie produced.
As we can see in the question, the marginal revenue remains the same: it is always 10, because every additional unit of pie produces 10 of revenue.
According to the chart, the marginal revenue increases by ten dollars as production increases.
What is marginal revenue?Marginal revenue measures the rate of change of total revenue as output increases. According to economic theory, profit is maximised when marginal revenue is equal to marginal cost.
Marginal revenue = change in total revenue / change in quantity sold
Marginal revenue when output is 3 units = (30 - 20) / (3 - 2) = 10
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The penalty for illegally using copyrighted work depends on the nature of the copyright infringement. How will the offender pay for infringing on copyright materials?
Answers
Answer:
The offender will have to pay attorney fees or have the illegal work confiscated or even go to jail
Explanation:
Copy right infringement means illegal usage of copyrighted works without the owner's express permission. It is a violation of owner's intellectual property or right.
Copywrited works may include films, paintings, novels or creative display of ideas. A particular film for instance may receive protection in copyright law whereby no one can reproduce the film due to the copyright law.
Copywrite holders have sole right to their works which usually lasts throughout their life time and can either be distributed, reproduced or even be displayed publicly.Although there may be permission or licensing from the owner to another party to reproduce his works.
With regards to the above, offenders who infringe on copyright materials will have to pay attorney fees or have the illegal work confiscated or even go to jail.
Answer:
Would have to pay $150,000
Explanation:
assume peru had an adult population of about 25 million, a labor-force participation rate of 60 percent and an unemployment rate of 6 percent. how many people were employed
Answers
Answer: 15 million people were employed.
Explanation:
Hi, to answer this question we have to multiply the adult population (25,000,000) by the labor-force participation percentage in decimal form (divided by 100).
Mathematically speaking:
25,000,000 x (60/100) = 25,000,000 x 0.6 = 15,000,000 people
15 million people were employed.
Feel free to ask for more if needed or if you did not understand something.
I WILL ALWAYS MARK THE FIRST ANSWER THE BRAINLIEST
Answers
Answer:
D. Food Preparation Sink
Explanation:
You are correct! Must wash hands always at the PROPER place, when handling food.
By hiring your children, you can
pay low wages.
show how much you care.
transfer wealth without estate taxes.
avoid payroll taxes.
Answers
Answer:
Avoid payroll taxes
Explanation:
In hiring your children to work for you, you can avoid payroll taxes as long as they are legitimate employees. This therefore means that one can deduct the children's salary from the business income and then write it down as a business expense. That way, the employer does not have to pay taxes on the salary. The taxes are medicare and /or social security taxes.
In hiring your children, certain rules have to be followed and they include: the child must be a real employee, compensation must be reasonable and you must comply with the legal requirements for employers.
Cheers.
Which of the following accurately describes a capital gain?
A. Arise in the standard of living
B. The difference between costs and revenues
C. An upward trend in prices
D. An increase in the value of an investment
Answers
Answer:
A. Arise in the standard of living
Explanation:
A. Arise in the standard of living
2 features of private limited companies.
Answers
Answer: (1) Legal entity
(2) Perpetual existence
Explanation: A very simple definition of a private limited company would help with subsequent explanation of its features or characteristics.
A private limited company is a business organization with private ownership being held by a few parties known as the shareholders, and these ones have their liability limited to the amount of shares contributed to the business capital. The total membership of owners is limited and hence the name "private."
There are a quite a number of features of a private limited company and two of these are;
(1) Legal Entity
(2) Perpetual Existence
(1) Legal Entity:
Once an organization has been registered as a "limited liability company," it immediately takes it own identity. What this means is that the laws of the country now recognizes the company as an individual with its own name and identity and is clearly distinct from the shareholders (owners of the company). This means the private limited company can have a bank account opened in its own name, it can sue and be sued to court in its own name (and not in the name of the shareholders), and so on. Basically, legal entity implies that a private limited company is now a person on his/her own and all matters that concern the business organization shall be seen as the company. Hence all assets and liabilities belong to the company and not the shareholders.
(2) Perpetual Existence:
Perpetual or continuous existence as the name implies means the company can continue to remain in existence into the foreseeable future and no time limit can affect it. Also the death or exit of one or more members (shareholders) cannot affect the existence of the company. So if for example, one members retires and exits the company and later dies as a result of old age, with or without replacement of the ex member, the company continues to exist uninterrupted (remember the company is now a person on its own under the law). This explains why many multinationals such as banks and oil and gas producing companies have been in existence for decades and some close to two hundred years in existence (and still counting).
Which of the following is not part of the role of a forester? a. develop sustainable practices b. prevent removal of timber c. determine means for continued growth d. assess timber quality Please select the best answer from the choices provided A B C D Mark this and return'
Answers
Answer:
B
Explanation:
The following is not part of the role of a forester: determine means for continued growth. Thus option (c) is correct.
What is the population growth?A population is the total number of individuals that live in a particular region or area. The number of individuals that live in an area can either increase or decrease over time, which leads to population growth.
Population growth can be positive or negative depending on if certain factors cause the number of individuals to increase or decrease.
Exponential population growth occurs whenever a population continues to increase in size at a consistent pace. However, generally there are a few population factors that affect the size of a population, including , mortality, natality, and migration.
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EXERCISE 6-3
Using the XYZ Conflict Model
Preparation (Individual and Group)
Below are five conflict situations. Write the XYZ statement you would use to resolve the conflict. Remember the goal of resolving the conflict while maintaining human relations.
1. A coworker has asked you to go out after work for the second time. The first time you gave an excuse for not being able to go, but you really don't want to go out with this person. What would you say?
X
Y
Z
2. A coworker keeps coming to your work area to socialize. You have been talking as long as the person wants to. But it is affecting getting your work done, and you have had to stay late. What would you say?
X
Y
Z
Answers
Answer:
bdfngmhgfsadfhfh,j.,gfdbn,.kj,gfdg
Explanation:
dvsvdsvd
Rachel is on her way to an interview for the position of a project manager. She is trying to prepare for this interview by analyzing her own skills. Which of Rachel’s skills is relevant to the position of a project manager?
Answers
Answer:
B) she was very calm under pressure
Explanation:
A project manager is a designation in which the management and the responsibility of the entire project lie in the hands of an individual. The responsibilities of planning, running and the execution of the project is undertaken by the project manager.
From the given options, the soft skill of keeping very calm under pressure will be the most relevant for Rachel. All the other three options are the skills relevant for a specific proficiency in the technical field. To be a project manager, calmness, and efficiency to work under pressure is required.
What was the main benefit of the advent of the telegraph and the telephone?
A. People could communicate more quickly over long distances.
B. People living in different regions could read the same news.
C. Individuals could write and share their ideas with the greater
public.
D. People could see what other parts of the world looked like.
Need the help ASAP
Answers
Full-time employees must have money deducted from their paychecks for
car insurance premiums.
contributions to charity.
federal income tax.
savings.
Answers
The correct answer is C. Federal income tax
Explanation:
The term "deduction" is used to describe money that is taken from your salary. In the case of full-time jobs in the U.S. salary deductions include deductions for income taxes including the federal income tax and deductions for Social security taxes because all of these taxes are established by the U.S. government and this is closely related to the amount of money you earn or your salary. Also, others such as savings, contributions to charity, etc. are not mandatory deductions. Thus, full-time employees must have money deducted from their paychecks for federal income tax.
