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
Which of the following is the most liquid?
Municipal bonds.
Savings accounts at a local bank.
Collectible antique cars.
Stock mutual funds.
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Answer:
Option(2) i.e " savings accounts at a local bank." is the correct answer to the given question .
Explanation:
Liquid asset are those asset that are rapidly translated into the cash money.The liquid asset is the connection cash in hand asset or perhaps the asset that can quickly be turned into the cash money.
We will withdraw the money many number of times it means in the option(2) the money is turned into the cash money. this is an example of the liquid asset .All the other options are not turned into the cash money that's why it is not liquid asset .So these are incorrect option.Given half a chance, other people at work will take advantage of you.
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PLEASE HELP IM MARKING BRAINLIEST
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Accounting businesses, babysitting businesses, and hairstyling businesses are all examples of what
businesses ?
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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.
True or False: Cell phone chargers are considered hazmat products and cannot be stowed with items like books
or towels
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Answer:
I would say false
Explanation:
the charger is like an appliance . if it isn't in use it's harmless . I don't know for sure.
Answer:
The statement "Cell phone chargers are to be considered as the hazmat products and they cannot be stowed the items such as books or towels" is false.
Explanation:
Hazmat products are those products that are considered to be hazardous that could risk:
Health, Property, Or the Environment.It could become hazardous at the time:
Storing, Handling, Or Transporting them.As they consist of flammable, pressurized. It includes such substances as fuels, nuclear waste products, etc.
Also, it can be stowed with items such as books or towels.
Therefore we can conclude that the statement "Cell phone chargers are to be considered as the hazmat products and they cannot be stowed the items such as books or towels" is false.
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Why might a sole proprietor take on a partner instead of hiring an employee?
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Answer:
Please see answer below.
Explanation:
As in the above case, a sole proprietor might decided to take on a partner instead of hiring an employee if he or she is considering business expansion or aiming to add other business which is not his or her field hence requires a partner.
Employing people in the above situation might not be a good decision because adding a new line of business requires capital and expertise , all of which will be provided by the new partner because that is his field.
Also, should there be any losses, both the sole proprietor and the partner will share the losses unlike the employee who will not share in the loss should there be any.
PLEASE HELPPPPP The "legal value" in the definition of contract consideration applies to Select one: a. Forbearance. b. Promises. c. Money. d. Labor. e. All of the answers are correct.
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Legal VALUE in an agreement is Consideration..
It can be goods, service money or a promise of any of these
Both parties must give some form of consideration for a contract to be legal...
My last question . Marking the brainliest :)
Answers
Answer:
your answer would be BBbBB
Explanation:
Answer:
Choice B
Explanation:
The minimum temperature would be 145 degrees, but more than that would most likely be overcooked.
Please mark BRAINLIEST! Thanks!
HELP ME :( Which of the following is not a requirement for substantial performance? Select one: a. Performance must be 99.9% of what was promised and no less. b. The party must have performed in good faith. c. Performance must not vary greatly from what was promised. d. Performance must create substantially the same benefit as was promised.
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Answer:
a. Performance must be 99.9% of what was promised and no less.
Explanation:
If performance was 99.9% of what was promised, then it was basically fully performed. It is like saying I will finish this in 1 hour, but it took me 1 hour and 1 second to finish.
Substantial performance allows a party to receive payment even if they didn't fully complete the specific terms of a contract. In some states, a % is used to measure substantial performance and it ranges from 2-3% of costs remaining to fully complete a contract.
The substantial performance doctrine basically allows a small deficit on either party involved in a contract. It depends a lot on the good faith that the parties had on completing the work.
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.
Which of the following is true of good salespeople?
They know how to oversell their product so the customer can't say no.
They have tenacity but know when to walk away and move on to the next sales prospect.
They make promises they may not be able to keep in order to secure a sale.
They don't leave voice mail messages.
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Answer:
B (They have the tenacity but know when to walk away and move on thr next sales person)
Explanation:
Let's break these.
A: Anyone can say no. this really does not work as a good salesperson argument.
B) They know when to stop but are also tenacious. good qualities to have in a salesperson.
C) thats looking at legal trouble, please don't do that
D) thats a ridiculous statement
Answer:
They have tenacity but know when to walk away and move on to the next sales prospect
Explanation:
4. What happens if you need your money in either your 401K or Roth IRA at age 40?
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Answer:
In many cases, a Roth IRA can be a better choice than a 401(k) retirement plan, as it offers a flexible investment vehicle with greater tax benefits—especially if you think you'll be in a higher tax bracket later on. ... A good strategy (if you can manage it) is to have both a 401(k) and a Roth IRA.
Explanation:
Because it offers additional investment alternatives and higher tax advantages, a Roth IRA may be a better option than a 401(k) retirement plan.
An IRA that allows for tax-free growth and tax-free withdrawals in retirement is known as a Roth IRA.
Utilize all of your available savings and investment options, including your IRA and 401(k), to save as much as you can as early on while also receiving the biggest tax cut possible.
Since Roth IRA contributions are made using after-tax funds, the contribution year does not qualify for a tax deduction.
Therefore, it is better to invest in the 401K option.
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Identify three areas in our daily lives that would benefit from the study of communication. Use specific examples from the site.
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1. Work place
2. Home
3. School
The areas that would benefit from the study of communication are:
WorkEducationFamilyWhat is communication?This is the term that has to do with the ways through which messages are communicated or sent from one person to the other around the world.
Communication helps to relay important messages and also foster good relationship.
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1. During pre-planning, the Activities Committee establishes the following project goal: "Optimus XT will promote and organize a clothing drive no later than May 31." Is this a SMART goal? Why or why not? (2 points)
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Why is Earned Value a very powerful tool? Answer: It combines the cost, scope, and ____________ as an integrated tool to calculate project performance. It also allows us to do _______________ under different estimating assumptions as discussed earlier.
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1) Time
2) cost analysis or performance measurement.
Explanation
Earned value — it integrates cost, time and the work done (or scope) and can be used to forecast future performance and project completion dates and costs...
As the supply of Blu-Ray players has increased over the years and the price of Blu-Ray players has dropped, the _____.
Answers
Answer:
quantity demanded of Blu-Ray disc players has decreased.
Explanation:
The above is applicable to the law of supply which states that as other factors remain constant, the higher the price , the higher the quantity supply and vice versa. In other words, producer will be willing to supply more as prices of goods increases due to the sales revenue that will be available to them.
However, as in the above case, since there is an increase in supply, and a decrease in price, quantity demanded would also decrease because supply and demand are dependent on each other as a general rule.
Mia and Jack are two chocolate producers. Mia packs her chocolates in attractive boxes and charges slightly more than Jack does. Despite her slightly higher prices, consumers are more attracted to Mia’s chocolates. What market structure does this situation represent? A. oligopoly B. monopolistic competition C. monopoly D. perfect competition
Answers
The correct answer is B. Monopolistic competition
Explanation:
Monopolistic competition occurs when the producers of a product determine the price of it. Also, the products sold have differences, which means consumers do not consider one product can be substituted by another because the qualities, brand, appearance, etc. are different. This is the opposite of perfect competition, in which products are substitutes and price is determined by price and demand rather than producers.
Monopolistic competition occurs in the case presented because the chocolates sold by Jack are different from those sold by Mia, who uses attractive boxes. Also, due to this difference, Mia can set higher prices and still get more demand from consumers.
The correct answer is B. Monopolistic competition
Explanation:
Monopolistic competition occurs when the producers of a product determine the price of it. Also, the products sold have differences, which means consumers do not consider one product can be substituted by another because the qualities, brand, appearance, etc. are different. This is the opposite of perfect competition, in which products are substitutes and price is determined by price and demand rather than producers.
Monopolistic competition occurs in the case presented because the chocolates sold by Jack are different from those sold by Mia, who uses attractive boxes. Also, due to this difference, Mia can set higher prices and still get more demand from consumers.
First answer, I’ll mark the brainliest .
Answers
During the recession of 2008 through 2010, Ford
saw sales of its vehicles drop and was forced to
reduce production. This decision reflected changes
in the company's BLANK environment.
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Answer:
During the recession of 2008 through 2010, Ford saw sales of its vehicles drop and was forced to reduce production. This decision reflected changes in the company's ECONOMIC environment.
Explanation:
The automotive industry crises occurred from 2008 to 2010, it was basically a part of the financial crisis that started in 2007. It also effected most of the Europe, but the results in America were far worst than any other part of the world. The main reason behind it was the rise in the fuel prices for these vehicles. As Ford didn't offer much fuel efficient models for costumers, their sales started to decline, which resulted in the reduction of production, and changed the companies economic environment.
I WILL MARK THE BRAINLIEST HELP ME PLEASE
Answers
Answer:
It's D im guessing
Explanation:
Identify the intermediate goals that would be most helpful toward becoming a Chef. Check all that apply.
within two months, organize and start a school cooking club
within six months, join a school sports team
within one year, take a business class
within four years, graduate from high school
within six years, earn a master’s degree
within eight years, graduate from culinary school
within twelve years, become the head chef at a top restaurant
Answers
Answer:
1, 3, 4, 6, 7.
Explanation:
Answer:
1,3,4,6 and 7
Explanation:
just confirming its right. :)
PLEASE HELP ME FOR BRAINLIEST ANSWER Which of the following remedies are not available to the non-breaching party upon material breach? Select one: a. sue for punitive damages b. recission c. accept the defective product d. discharge e. compensatory damages
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starting up a lemonade stand
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Answer:
STEP 1:
Plan your business
STEP 2:
Form a legal entitity
Step 3:
Register for taxes
STEP 4:
Open a business account and credit card
STEP 5:
Set up business accounting
STEP 6:
Obtain necessary permits and licences
STEP 7:
Get a business insurance
STEP 8:
Define your brand
STEP 9:
Establish your web presence.
Explanation:
I hope this is what you mean
Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the total profit the company earns after selling 100 boards? $300 $350 $3,000 $3,500
Answers
Answer:
Profit on sale of 100 skateboards is $3000
Explanation:
Given:
Selling price of each skateboard = $45
Expenses include $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor
To find: Total profit the company earns after selling 100 boards
Solution:
Cost price of each skateboard = $3 + $1 + $1 + $10 = $15
Selling price of each skateboard = $45
Profit on sale of each skateboard = $45 - $15 = $30
Profit on sale of 100 skateboards = $30 × 100 = $3000
The total profit the company earns after selling 100 boards is $3,000.
Total profit:First step is to calculate the total cost
Total cost=($3+ $1 + $1 + $10)×100
Total cost= $15×100
Total cost=$1,500
Second step is to calculate the total revenue
Total revenue=$45×100
Total revenue=$4,500
Third step is to calculate the total profit
Total profit=$4,500-$1,500
Total profit=$3,000
Inconclusion the total profit the company earns after selling 100 boards is $3,000.
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Which polygon has an interior angle sum of 1080°?
Answers
Hope this helped
Answer:
A. The polygon with 8 sides.
Explanation:
The formula for the interior angle sum is (n-2)*180.
8-2 = 6
6*180 = 1080
what is a good and easy 1 credit class to take on FLVS?
Answers
Answer:
Web Design I & II
Explanation:
Worth a whole credit each, the web design courses on FLVS are fun and and interesting, but there's a lot of focus needed to make sure you're doing everything right. Since you'll be creating your very own website using Dreamweaver and Fireworks, you'll have to follow instructions laid out in the modules closely. If you're good at focusing and following extensive directions, then you should be fine with the course. Depending on how computer savvy and focused you are, completion time can range from a week to months.Either way, it's an easy course and can be a huge grade booster since as long as you follow directions, you can easily earn a 95% or higher in the class with barely any mindful effort.
Answer:
peer pressure
Explanation:
Definitley marking the brainliest ASAP
Answers
Answer:
It's A im thinking
Explanation:
Answer:
Choice A
Explanation:
Two ours should be maximum, otherwise the food might be contaminated, after two hours.
Please mark BRAINLIEST!
Which tag tells the browser that the document is in html format?
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Answer:
<HTML> tag
Explanation:
Brenda conducts brokerage activities and can receive compensation directly from buyers
or sellers. She must be a?
A)Broker
B)Licensee working under a broker
C)Property manager
D)Sales associate
Answers
Answer:
A) Broker
Explanation:
she is a Broker if she recieves compensation directly from either buyers or seller.
moreover, she conducts brokerage activities.
hope it helps .
TRUE OR FALSE FOR EACH BRAINLIEST ANSWER PLEASE 1. The Statute of Limitations discharges a debt by operation of law unless the debtor reinstates the debt. 2. In most situations, when a breach of contract occurs, the innocent injured party is held to a duty to mitigate the damages. 3. Anything less than complete performance is a material breach of contract. 4. Unless there is a material breach, parties can never mutually agree to discharge one another (rescind the contract).
Answers
Answer:
Hjsksk
Explanation:
Hjskkz zzhzk
ZzjjskslL
Zhzkls
Hzkz
Jzso