If firms in monopolistic competition engage in product differentiated through brand loyalty, why does that not create a perfectly inelastic demand curve for the firm?
Answers
Monopolistic competition is a form of market structure where several firms offer products that are similar but not identical.
In this market, firms differentiate their products through brand loyalty to attract more customers. However, this does not create a perfectly inelastic demand curve for the firm.What is a perfectly inelastic demand curve?A perfectly inelastic demand curve means that no matter how much the price of the product changes, the quantity demanded remains the same. This type of demand curve is usually rare because it is difficult to achieve in the real world.Why does brand loyalty not create a perfectly inelastic demand curve for the firm?Brand loyalty does not create a perfectly inelastic demand curve because consumers still have a choice to switch to a competitor's product if the price of the product increases.
Although the product is differentiated, consumers still perceive it as being close substitutes to the products offered by competitors, giving them a choice to switch to other brands if the price is too high or if the quality of the product does not meet their expectations.In monopolistic competition, firms also face competition from close substitutes. Therefore, the firm must balance between increasing its market share through brand loyalty and keeping prices competitive. The firm can only maintain a competitive edge by consistently offering high-quality products at reasonable prices.The degree of brand loyalty in the market will determine the price elasticity of the product. If the brand loyalty is high, then the price elasticity of demand will be low, meaning that consumers are less likely to switch to other brands if the price of the product increases.
However, if brand loyalty is low, then the price elasticity of demand will be high, meaning that consumers are more likely to switch to other brands if the price of the product increases.In conclusion, brand loyalty does not create a perfectly inelastic demand curve for the firm because consumers still have a choice to switch to a competitor's product if the price of the product increases.
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Related Questions
How would you describe the dangers of debt to a friend?
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Answer:
I would explain to them that the danger of debt. Can lead to credit going down. When you don’t pay your debt, and you get behind your credit can go down
A standard is a:??????
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Answer:
b
Explanation:
B is right no doubt about it
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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Determine the payback period for an asset that has a first cost of $40,000, a salvage value of $8000 anytime within 10 years of its purchase, and generates income of $6000 per year. The required return is 7% per year
Answers
The payback period for the asset is approximately 7.83 years.
The payback period is the length of time required to recover the initial investment in an asset. To calculate the payback period, we need to determine how many years it takes for the cumulative cash inflows to equal or exceed the initial investment.
Given data:
First cost: $40,000
Salvage value: $8,000
Annual income: $6,000
Required return: 7% per year
To calculate the payback period, we divide the initial investment by the annual cash inflow:
Payback period = Initial investment / Annual cash inflow
Payback period = $40,000 / $6,000
Payback period ≈ 6.67 years
Since the payback period needs to be within 10 years, we need to consider the salvage value. If the asset is still generating income after 6.67 years, we include the salvage value in the calculation. The salvage value reduces the remaining investment that needs to be recovered.
Remaining investment after 6.67 years = Initial investment - Cumulative cash inflows after 6.67 years
Remaining investment after 6.67 years = $40,000 - ($6,000 * 6.67)
Remaining investment after 6.67 years ≈ $3,995.80
To determine if the remaining investment is recovered within the next 3.33 years, we compare it to the salvage value:
$3,995.80 ≤ $8,000
Since the remaining investment is less than the salvage value, the payback period is extended beyond 6.67 years. We calculate the additional time it takes to recover the remaining investment:
Additional time = Remaining investment / Annual cash inflow
Additional time = $3,995.80 / $6,000
Additional time ≈ 0.67 years
Total payback period = 6.67 years + 0.67 years
Total payback period ≈ 7.83 years
The payback period for the asset is approximately 7.83 years. This means that it takes around 7.83 years for the cumulative cash inflows to equal or exceed the initial investment, considering both the annual income and the salvage value.
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Price $
190
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110
89
A
D
$2
S1
Q millions of barrels
www.economicshelp org
What is the new equilibrium price for this product after the supply curve shift?
O 110
O 190
08
Answers
A price is the quantity of payment or compensation given by one party to another in return for goods or services.
What is the meaning of Price?A price is the sum of money that one party pays or receives in exchange for another's goods or services. The cost of production may go by another name in some circumstances. If a product is classified as a "good" in a commercial exchange, its price is most likely to be referred to as such.
Price simply refers to the value you fork out to get goods or services. It is not the same as the word cost. Cost is the total sum of the inputs used to produce a good, while value is the amount that goods or services are worth to the buyer.
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The market for corn in Mexico has a large number of sellers and buyers, and there is no difference in the products sold by each seller. As a result, prices are determined by the
Answers
Answer:
Interactions between the sellers and buyers in the market.
Explanation:
laws of supply and demand in the Mexican corn market. When there is a surplus of corn, the price tends to decrease as sellers compete to sell their products. Conversely, when there is a shortage of corn, the price tends to increase as buyers compete to purchase the available products. Therefore, the prices are determined by the interactions between the sellers and buyers in the market.
d. How trustworthy do you think the primary source is? Do you think this source Might
be biased? Why? (1-2 sentences. 0.5 points)
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Answer:
um where is the paragraph can I see it I can give you the answer once I can see if the source is biased.
Explanation:
show me the paragraph so I can help answer your question.
_______________ are a comprehensive tool, especially since it would cost our society so much to prosecute and allow a trial for every individual that committed a crime.
Answers
Answer:
"Plea bargains" would be the correct approach.
Explanation:
The mechanism by which a convicted criminal as well as lawyer arrive at a mutually agreeable conclusion of such a criminal proceeding needs to be approved by the judge. It is indeed a deal during which the offender seeks to make a reduced case guilty verdict and indeed the complainant offers to dismiss an even more severe punishment.________ are all marketing activities that affect the consumer decision process.
Answers
"Marketing Mix." The marketing mix refers to a set of controllable marketing variables that a company uses to influence the consumer decision-making process.
It consists of four elements known as the "Four Ps": Product: The features, design, and quality of the product or service being offered. This includes product variety, branding, packaging, and other attributes that differentiate it from competitors. Price: The pricing strategy employed, which includes factors such as the list price, discounts, payment terms, and pricing models. Price affects consumer perception of value and influences their decision to purchase. Promotion: The communication and promotional activities used to reach and engage consumers. This includes advertising, sales promotions, public relations, personal selling, and digital marketing techniques aimed at creating awareness, generating interest, and stimulating demand. Place (Distribution): The channels and methods used to make the product or service available to consumers. This involves decisions related to distribution channels, inventory management, transportation, and logistics to ensure the product is accessible and convenient for consumers.
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______ management involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions. Multiple choice question. Reputation Collective Knowledge
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Knowledge management is a systematic approach to capturing, organizing, evaluating, and sharing information assets within an organization. Hence option B is correct.
It involves the creation of processes, systems, and strategies to effectively manage knowledge resources. The goal of knowledge management is to provide context and enable informed decision-making and actions.
It encompasses activities such as identifying valuable knowledge, classifying it, and ensuring its accessibility and availability to relevant stakeholders. Knowledge management promotes collaboration and learning, encouraging the sharing of expertise and best practices across the organization.
By leveraging collective knowledge, organizations can improve efficiency, innovation, and problem-solving, and ultimately enhance their competitive advantage in a rapidly changing business landscape.
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A kanban card is used to signal that: Select one: a. A machine has broken down. b. Work is needed from the preceding station. c. A worker has run out of parts. d. Work is ready to be moved to the next
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A kanban card is used to signal that Work is ready to be moved to the next.
What a Kanban Card is used for?The Kanban system or process is based on product signals throughout its production process from start to finish.
When a "customer service center" removes something from the store, a "kanban" or signal goes with the equipment. So this is a "pull" system that is driven by need.
Thus, A kanban card is used to signal that Work is ready to be moved to the next. Option D is correct statement.
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Write donw the financial statement that shows the firm's bottom line that is, whether it has made a profit or is operating at a loss?
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The financial statement that shows whether a firm has made a profit or is operating at a loss is the income statement, also known as the profit and loss statement.
This statement provides a summary of a company's revenues, expenses, and net income over a specific period of time, typically a quarter or a year. If the net income is positive, it indicates that the firm has made a profit. Conversely, if the net income is negative, it means that the firm is operating at a loss. The income statement is an essential tool for investors, creditors, and other stakeholders to assess a company's financial health and performance. The Income Statement provides a clear view of a firm's financial performance over a specific period, revealing whether it is profitable or operating at a loss.
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2.
What is selling? How can you apply this in your real life as a student?
Answers
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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assuming that lets talk company uses accrual-basis accounting, when would the company record the expense related to the supplies?
Answers
The company would record the expense related to the supplies when the supplies are received or consumed.
In accrual-basis accounting, expenses are recognized when they are incurred, regardless of when the cash is actually paid. For supplies, the expense is recorded when the supplies are received or consumed, indicating that the company has benefited from or utilized the supplies for its operations.
When the supplies are received, the company recognizes the expense by debiting the supplies expense account and crediting the accounts payable or inventory account, depending on whether the supplies were purchased on credit or already in inventory. This reflects the decrease in the company's assets (supplies) and the corresponding increase in expenses.
Alternatively, if the supplies are consumed directly without being recorded in inventory, the expense is recognized by debiting the supplies expense account and crediting the accounts payable account. This recognizes the decrease in assets (supplies) and the increase in expenses without involving the inventory account.
It's important to note that the timing of the expense recognition may vary depending on the company's specific accounting policies and practices. Some companies may choose to record expenses as soon as the supplies are ordered or when the purchase order is issued, while others may wait until the supplies are physically received or consumed. The key principle is to match expenses with the period in which they contribute to generating revenue.
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which of the following commodities is a product of the primary or extractive industry
A. Cars
B. Gold
C. Hair Processing
D . Houses
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The letters A, B, C, D, E, F, G are called what?
Answers
What would a casualty insurance policy cover?
Answers
Answer:
auto insurance policy
Answer: A customer injury caused by employee negligence
Jerome knew it was wrong for his company to continue ignoring environmental standards set down by the state. Jerome is able to determine this based on:.
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Answer:
His impact on the environment. What other say about his company
Explanation:
A backpack is normally $64. 99, but on sale, it is marked down to $45. 49. What percent off is the sale price?.
Answers
A backpack is normally $64. 99, but on sale, it is marked down to $45. 49. The percent off on the sale price is 30%.
A backpack in its simplest form is a canvas bag that is strapped on the back and secured with two shoulder straps, but it can have an outer frame and an inner frame and also include a storage bag.
Backpacks are commonly used by hikers and students and are generally preferred over handbags for carrying heavy objects or carrying any kind of equipment due to limited ability to carry heavy objects for long periods of time. on hand. Large backpacks, used to carry items weighing more than 10 kg, as well as smaller sport backpacks, typically drop most of their weight on padded hip belts, leaving the straps mostly alone. shoulder to stabilize the load.
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A major cause of the 2008 economic collapse was Group of answer choices the Contract with America. Bush's expansion of affirmative action programs. the war in Iraq. the collapse of the housing market.
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Answer:
the collapse of the housing market.
Explanation:
The cause of the 2008 financial crisis was the deregulation of the financial sector which allowed banks to invest in real estate.
The resulting bubble in real estate prices led to the 2008 financial crisis.
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
3. Which website did you use to find the image you used in your career presentation? Complete sentences are not necessary. (2.0 points)
Needed ASAP
Answers
The best kind of image to use for career presentation if you don't want to buy one is a Royalty-Free or Free License image.
How can you find Royalty-Free Images?In order to find and download Royalty-Free Images, you will need to run an internet search using the keyword "Royalty-Free Images" or "License-Free Images".
An image is a Royalty-Free Image if you are not required to pay before downloading it.
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In the product flow, what type of flow happens when customers return or reject goods?
Reverse flow
bad product flow
value flow
none of the above
Answers
Answer:
reverse flow
Explanation:
discuss the problems underlying the work-life conflict and explain some of the techniques that an organization can use to help employees achieve the work-life balance.
Answers
The work-life conflict arises when an employee finds it challenging to balance the demands of work and personal life. The conflict is one of the significant causes of stress, low productivity, and employee burnout. Some of the underlying problems that contribute to this conflict include long working hours, unrealistic job demands, and inadequate support from the organization.
To address these problems, an organization can implement several techniques to help employees achieve a work-life balance. These include offering flexible work schedules, providing on-site childcare services, promoting telecommuting, and creating an environment that supports employee well-being. Other strategies include encouraging open communication and dialogue between management and employees, promoting stress management and mindfulness programs, and offering employee assistance programs.
Implementing these techniques can help reduce the work-life conflict and improve employee well-being. Organizations can also reap the benefits of increased productivity, reduced absenteeism, and lower turnover rates. In conclusion, it is crucial for organizations to recognize the importance of work-life balance and take proactive steps to address the underlying problems. By doing so, they can create a more supportive work environment that benefits both the employees and the organization.
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If your answer is zero, enter "O". a. Under a 2017 divorce agreement, Joan is required to pay her ex-husband, Bill, $2,340 a month until their daughter is 18 years of age. At that time, the required payments are reduced to $1,638 per month 1. How much of each $2,340 payment may be deducted as alimony by Joan? 2. How much of each $2,340 payment must be included in Bill's taxable income? 3. How much would be deductible/included if the divorce agreement were dated 2019? b. Under the terms of a property settlement executed during 2018, Jane transferred property worth $577,350 to her ex-husband, Tom. The property has a tax basis to Jane of $461,880 1. How much taxable gain must be recognized by Jane at the time of the transfer? 2. What is the amount of Tom's tax basis in the property he received from Jane?
Answers
Answer:
$2,400 in 2019 are deductible as alimony.
Step-by-step explanation:
Hillary get divorced in the year = 2016
She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.
His son will reach of the age of 18 = 2016 + 7 = 2023
She has to pay $200 till 2023 and $120 thereafter.
Her payments are deductible as alimony in 2019 would be = $200 × 12
= $2,400
$2,400 in 2019 are deductible as alimony.
$2,400 in 2019 are deductible as alimony.
Hillary get divorced in the year = 2016
She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.
His son will reach of the age of 18 = 2016 + 7 = 2023
She has to pay $200 till 2023 and $120 thereafter.
Her payments are deductible as alimony in 2019 would be = $200 × 12 = $2,400
What is an alimony?Alimony is a legal obligation on a person to provide financial support to their spouse before or after marital separation or divorce. The obligation arises from the divorce law or family law of each country. The purpose of alimony is to limit any unfair economic effects of a divorce by providing a continuing income to a non-wage-earning or lower-wage-earning spouse.
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Apple is offering share of their company for only $ 20 dollars. Anyone who buys a share becomes a part owner of apple. Based off of this knowledge, what type of business organization is this. Explain why
Answers
Answer:
A. Publci Corporation
Explanation:
A corporation is recognized by law as an entity separate from its owner. It is one of the business ownership structures. The shareholders are the owners of a corporation. A public corporation is permitted by the exchange authority to trade its shares in the securities exchange market.
When a public corporation wants to raise more capital, it issues new shares to the general public. They are no restrictions as to who can buy what shares. Apple must be a public corporation as its shares are being traded without hesitation.
higher level profession requires in the knowledge good skills and a special training explain this statement with example
PLZZ make uhr on answer
Answers
Answer:
true
Explanation
Higher level professions are professions occupied by professionals who think strategically and carry out their duties by adhering to the ethical standards that governs their profession. Examples are medical practitioners, engineering, accountant and pilot. All these requires in-depth knowledge , good skill and special training because of the technical nature of the profession.
Having a degree is not enough to deliver on these professions because of their complexities. These professionals must adhere to the ethical standard that governs their profession and also hold themselves out of having the required training, knowledge and experience .
Take for instance a pilot who controls a plane. Asides having the required education, he would undergo special trainings on how to fly planes. He must also have the skills and experience of flying before being certified to fly people because of the risky nature of the profession.
The above example also applies to a doctor. He would undergo trainings depending on his area of specialization and must have knowledge before being certified to work as a doctor. The reason is that he is dealing with lives hence must possess the the required skills and experience
freddi buys bike shoes from get n’ gear store, telling the clerk that she wants the shoes to compete in high pace triathlon. the shoes break apart during the competition, causing freddi to be injured in a fall. get n’ gear most likely breached
Answers
Get n’ Gear store most likely breached the implied warranty of fitness for a particular purpose in the case of Freddi buying bike shoes for a high pace triathlon.
When a customer like Freddi informs the store clerk that they need the shoes for a specific purpose, such as competing in a high pace triathlon, the store implicitly warrants that the shoes are fit for that purpose. However, if the shoes broke apart during the competition and caused Freddi to be injured, it suggests that the shoes were not suitable for the intended use.
Under the implied warranty of fitness for a particular purpose, the seller (Get n’ Gear store) is responsible for providing goods that are suitable for the specific purpose communicated by the customer. If the shoes failed to meet this standard and caused harm, the store may be considered in breach of the implied warranty. Freddi may have legal recourse to seek compensation for the injuries and damages resulting from the incident.
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In measuring GDP as the sum of all incomes earned in production, we should include: purchases of used goods. purchases of used goods. American purchases of foreign output. American purchases of foreign output. wages and salaries. wages and salaries.
Answers
Answer:
wages and salaries.
Explanation:
GDP is an acronym for Gross Domestic Products (GDP) and it can be defined as a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, Gross Domestic Products (GDP) is a measure of the production levels of any nation.
Basically, the four (4) major expenditure categories of GDP are;
I. Consumption (C).
II. Investment (I).
III. Government purchases (G).
IV. Net exports (N).
Additionally, it is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
In measuring GDP as the sum of all incomes earned in production, we should include wages and salaries of the people working in a particular country.