Explain how the equilibrium, or market, price of a product is determined.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Under pure competition the market price of any product is the price at which the quantity ...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Business
ISBN: 978-0324829556
10th Edition
Authors: Willian M Pride, Robert J. Hughes, Jack R Kapoor
Question Posted:
Students also viewed these Economics questions
-
Explain why maximizing the current market price of a firms stock is an appropriate goal for the firms management.
-
A quality characteristic of a product is normally distributed with mean and standard deviation . Specifications on the characteristic are 6 x 8. A unit that falls within specifications on this...
-
The daily demand of a product is very stable at 250 units per day. However, its delivery lead time varies and can be specified by a normal distribution with a mean lead time of twelve days and...
-
First United Bank Inc. is evaluating three capital investment projects by using the net present value method. Relevant data related to the projects are summarized as follows: Instructions 1. Assuming...
-
Explain why the loss resulting from the sale of a computer in the following three situations is treated differently for income tax purposes: a. Monica sells her personal computer at a loss of $1,300....
-
Draw an organization chart of an organization with which youre familiar (where you work, a student organization to which you belong, your college or university, etc.). Be very careful in showing the...
-
The cumulative foreign currency translation adjustment (CTA) account appears on the balance sheet as a component of accumulated other comprehensive income. The CTA account may have either a positive...
-
Brian Wilson, materials manager at B&L Inc. in Lancaster, Pennsylvania, was considering a proposal from his purchasing agent to outsource manufacturing for an outrigger bracket. It was the end of...
-
Which of the Lean Thinking principles includes the activities from recognizing an opportunity through release and validation? Identify the Value Stream for each product Precisely specify value by...
-
Owen and Sonja Cornell are married. They are the parents of two children: Kirsten (born on July 1, 2000) and Ingrid (born on May 17, 2009). Ingrid does not have any income. Kirsten (SIN 805 232 329)...
-
Identify and compare the four forms of competition.
-
Four different environments that affect business were described in Chapter 1. Choose one of the environments and explain how it affects a small electronics manufacturer located in Oregon.
-
Equity share of X Ltd is available in the market at a price of 45 per share, whereas its face value is 5 per share. During the current year, the company paid 66.66% dividend that has a track record...
-
Develop a break-even table showing the change in Profit Contribution for changes in sales between -5% and -30%. To you will need to determine first: . What is the baseline "initial sales" from which...
-
Consider a business loan maturing in three years that has three remaining annual payments in one, two, and three years. The annual payments are all equal to $5 Million. While analyzing the loan, you...
-
Both homes are in the same school district and the same city with the same property tax rate (2% of the house value). Other things remain the same. Buy House A: It is a lovely 3,500 sq. ft. single...
-
Title: Veggie Siomai (the wrapper of the siomai is made out from malunggay and pumpkin) Answer the following: What to do: 1. General Market Description 2. SWOT analysis * strength * weakness *...
-
1-2 Contemporary Management Techniques DeLight Inc., is a large manufacturer of lighting fixtures for both wholesalers and electrical contractors. An important aspect of the business with electrical...
-
The county of Greenlandia has four regions. Information for the four regions is shown in Table 10.1. Suppose there are three types of land use: (1) agriculture, (2) managed forestry and (3)...
-
The tall building in Figure P9.49 is constructed of structural steel. The exterior columns, which are uninsulated, are exposed to the outside ambient temperature. To reduce the differential vertical...
-
To provide information useful to decision makers, IAS 1 requires companies to report cash inflows and outflows using standardized categories. Which one of the following is not one of these...
-
The value of a company's equity is $4 million and the volatility of its equity is 60%. The debt that will have to be repaid in two years is $15 million. The risk-free interest rate is 6% per...
-
A company budgeted cash receipts of $100,000 and cash disbursements of $80,000 for the month. The company had anticipated that $50,000 would be cash received from customers who had balances in...
Study smarter with the SolutionInn App