What is an example of another business that stays open even when it's slow, and its revenue does not seem like it could cover its costs? Use microeconomics terms to explain

Q: Price Quantity Marginal Cost 60 1 30 55 2 30 50 30 45 4 30 40 30 35 30

A: A profit maximizing firm should produce up to that level of output where price = marginal cost. If…

Q: At a time when demand for ready-to-eat cereal was stagnant, a spokesperson for the cereal maker…

A: Trigger strategies are a kind of strategy in game theory where players consent to punish one another…

Q: See the graph below, Label and Describe in terms of : A. Name of Market Structure B. Ability to…

A: Anser is given below

Q: micro perfect competition

A: Competitive market: - it is a market condition where there are many buyers and many sellers in the…

Q: DARRELL WADE, CO-FOUNDER AND CEO OF Intrepid Travel It was a long time ago now, way before there was…

A: According to the story given in the question above,  Darrell was a traveler who did not want to go…

Q: What industry is the closest example you can think of to perfect competition, and why? What are its…

A: The market structure, which has numerous buyers and sellers, is perfect competition. The market…

Q: Why do economists believe that economic profit is the more accurate measure of a business success?…

A: Accounting profit only considers the cost that has actually happened, but economic profit considers…

Q: Do entry and exit occur in the short run, the long run, both, or neither?

A: In the short run, the firms have one or more fixed factors of production. The firms cannot change…

Q: Business markets have several characteristics that contrast sharply with those of consumer markets.…

A: Business markets and consumer markets represent two distinct realms of economic activity, each…

Q: Why can't firms enter the market in the short-run?

A: There are various types of market structures which have different characteristics of the number of…

Q: How would a pizzeria in a densely populated area with 20 to 50 competitors thrive in a pure short…

A: The pizzeria could thrive in short run than long run, because of several factors. In short run, it…

Q: Three important points of ZARA HOME's planning are as follows: Agents for the company are always…

A: The price is always determined by considering many factors like the ability of the consumer to pay,…

Q: Explain how a firm chooses a level of output to maximise profit

A: The profit maximization refers to a situation where the firm is earning the maximum possible profits…

Q: What are the characteristics of a perfectively competitive market?

A: There are different market structures with different characteristics.

Q: Suppose a tax of Rs.20 is imposed and government fixes price of milk at Rs.80 a liter. Then what…

A: Because tax of Rs 20 is imposed. Therefore price of the milk should be increased by 20 Rs.

Q: Microeconomics: Why do firms enter an industry when they know that in the long run

A: The profit is the difference between the total revenue and total cost of production. In the…

Q: Although Goldman Sachs paid Heather $100,000.00 per year, she was not satisfied with her job. She…

A: Given:- Amount Heather get from her job= $100000 per yearAmount she borrowed from bank=…

Q: From the economics information below  Answer This QUESTION : What are the Starbucks’ maximum profit…

A: The profit is the extra money a business makes after considering all its expenses.

Q: How can a hotel become better in the short run? And in the long run?

A: In economics the long run refers to a time period wherein all factors of production and costs will…

Q: What is profit

A: Profit = Revenue - costs

Q: WHY SOME FIRMS MIGHT BE ABLE TO CONTINUE TO MAKE AN ACONOMIC PROFIT IN THE LONG RUN?

A: A monopoly occurs when a single person or corporation serves as the exclusive supply of a certain…

Q: What will be the price and quantity where the firm will shut down?

A: As a perfectly competitive firm produces a greater quantity of output, its total revenue steadily…

Q: Explain how economics make profit or loss when firms are perfectly competitive.

A: In a competitive market there are large number of firms producing similar and identical products…

Q: why do economists and policy makers use perfect competition as a benchmark to analyze market…

A: Perfectly competitive market: - it is a market condition where there are many buyers and many…

Q: Draw a graph including AVC to illustrate a firm that is losing money, continues to operate, and…

A: The prevailing price, which is set by the relationship of supply and demand, is shown as a…

Q: Handwritten

A: The green shaded rectangle on the graph represents the profit area. It is bounded by the price (P),…

Q: According to Eric Ries through a startup is actually progressing towards a vision. It usually…

A: A startup is a newly established company or business enterprise with an innovative idea, product, or…

Q: Journal Entry Complete a Journal Entry: With reference to "The Parable of the Seaside Inn", answer…

A: Resort hotels may choose to stay open during the off-season despite charging bargain rates that may…

Q: Read the following short case scenario and then answer the questions. Fatma has always loved to cook…

A: Money: Cash is a financial unit that capacities as a by and large perceived trade vehicle for…

Q: What is pure or perfect competition? Define and discuss.

A: A firm will  attain profit if its price exceeds average total cost

Q: When will a business shut-down in the short-run?

A: Short-run: - it is a short time period in which some factors of production are variable and some are…

Q: Why does perfect competitive market need to be maintained?

A: In an economy, a perfectly competitive market is the place where anyone is allowed to enter or exit…