FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question:: Declan's business operates in a perfect competition market. As a result, Declan has been making ZERO economic prot. If Declan wants to make an

Question::

image text in transcribed
Declan's business operates in a perfect competition market. As a result, Declan has been making ZERO economic prot. If Declan wants to make an economic prot, he has to: O Tryr to differentiate his product from other competitors to increase the demand for his product. @ Tryr to lower down his average total cost to below the current market price. 0 Wait for some competitors to exit the market and take over their customers 0 None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding The Law

Understanding The Law

Authors: Donald L Carper, John A McKinsey, Bill W West

5th Edition

0324375123, 9780324375121

More Books

Students also viewed these Economics questions

Question

★★★★★
Calculate the weight in newtons of a 2.5-kg melon. What is its weight in pounds?

Answered: 1 week ago

Question

★★★★★
An intangible asset with an estimated useful life of 30 years was acquired on January 1, 2004, for $540,000. On January 1, 2014, a review was made of intangible assets and their expected service...

Answered: 1 week ago

Question

★★★★★
6.23 Elevator Capacities Suppose you must establish regulations concerning the maximum number of people who can occupy an elevator. Suppose a study of elevator occupancies indicates that, if eight...

Answered: 1 week ago

Question

★★★★★
Part 1 The framework created by Professor Sidney Gray in 1988 to explain the development of a country's accounting system is presented in the chapter in Exhibit 2.8. Gray theorized that culture has...

Answered: 1 week ago

Question

★★★★★
HHEC.com is responsible for collecting sales tax on the products it sells. In addition, it often collects money from customers for goods that are on backorder. Unfortunately, Sophia is unfamiliar...

Answered: 1 week ago

Question

★★★★★
Para el ao ms reciente, Triad Company tuvo costos fijos de $240 000 y costos variables del 75 % de los ingresos totales por ventas, gan $70 000 de utilidad neta despus de impuestos y tuvo una tasa de...

Answered: 1 week ago

Question

★★★★★
Calculate a 90% confidence level. What is the T-Confidence level? Column1 Mean 29347.5 Standard Error 5974.512153 Median 25325 Mode #N/A Standard Deviati 18893.06631 Sample Variance 356947954.7...

Answered: 1 week ago

Question

★★★★★
Accounting break-even Unit price Unit variable cost 18,980 $103 ? Fixed costs Depreciation $425,860 $372,118 What is the Unit Variable Cost? Note: Do not put the $ sign and only use two decimal...

Answered: 1 week ago

Question

★★★★★
A commercial building that has a value of $600,000 is insured on a Broad Perils policy with a coverage limit of $400,000. and a deductible of $1,000. 1. If a new building has a replacement cost of...

Answered: 1 week ago

Question

★★★★★
The reading and videos for this week bring to light some of the ethical and business-related issues in collecting and using data gathered about customer behaviors and using it to target advertising....

Answered: 1 week ago

Question

★★★★★
You are a large customer of a major Wall Street investment bank. They believe the price of oil will be going up over the next year and they are willing to enter an unlimited number of long positions...

Answered: 1 week ago

Question

★★★★★
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products based on machine-hours. The...

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) Predetermined is not the same thing as predictable. b) When we are aware of the consequences of our behaviour, we can change our behaviour. c) What we know is...

Answered: 1 week ago

Question

★★★★★
2. In this chapter, the reader should reflect on the following concepts:

Answered: 1 week ago

Question

★★★★★
1. To provide an understanding that a person in a communication situation conveys three things at the same time: their position, basic interests and values.

Answered: 1 week ago

Previous Question Next Question