Your best friend has an idea for a long-distancecar service to drive people across the country.Indicate the best explanation for why others havenot taken advantage of her idea: true innovation, market failure, intervention, unprofitable.

Q: A bookstore sells 90 textbooks at a price of $70 a book. The average total cost is $50 per textbook.…

A: Given that : Number of textbooks = 90 Price of a book = $ 70 Average total cost = $ 50

Q: Suppose that the fish processor could use a different production method that involves recycling…

A: The economic profit for recycling and non-recycling for the fish processor and the water park is…

Q: Should the Marginal revenue exceed the marginal cost? Why?

A: The firm is said to be in equilibrium when it has no tendency to increase or decrease its output. If…

Q: Technology spillover occurs when a firm's research yields technical knowledge that is used by…

A: Technology refers to the man-made resource that helps to utilize time and cost effective and improve…

Q: Kelsey has been asked to report on how the company's high-rise jeans collection had spread through…

A: the first to take on another item that has been brought into the commercial center. Trend-setters…

Q: Discuss creative destruction and the profit incentives for innovation.

A: Creative destruction and the profit incentives for innovation are two ways to increase the…

Q: Tammy quit her job as a math teacher making $70,000 per year to start her own online business. The…

A: (Q) Tammy quit her job as a math teacher making $70,000 per year to start her own online business.…

Q: Choose any business.  If you worked for that business, what major factors would stimulate the demand…

A: The major factors that would affect the demand or stimulate the demand are as follows: Price plays…

Q: Suppose a producer can manufacture her smartphones at a constant marginal cost of $300. She…

A: Rule of thumb for pricing with an "incremental margin percentage"  Incremental margin percentage =…

Q: please redo the problem

A: The elasticity of demand measures the responsiveness of the quantity demanded to the change in…

Q: (d) What would To and 71 have to be set to, for the equilibrium quantitites to be Qo = 60, Q1 = 60?…

A: d. Profit for Type 0 car producers : Total Revenue-Tax- Total Cost

Q: not use ai please don't

A: Option a: This option is correct because this suggests focusing on scaling production due to…

Q: Draw the cost-volume-profit diagram?

A: The cost-volume-profit analysis implies the relationship between costs and volume, selling price,…

Q: A brand that has experienced an ethical crisis is Victoria's Secret. They have sweatshops in Sri…

A: Economic analysis refers to the systematic approach used to examine how scarce resources are…

Q: Software Plus has a patent on software that estimates economic damages for clients involved in…

A:

Q: There are several hamburger shops around you. You are trying to find ways to make your hamburger…

A: A monopolistically competitive firm will look to differentiate its product from its competitors as…

Q: In your opinion, who should be the owner of the product created in manufacturing process?

A: The whole process of manufacturing is long, starting from the basic design of the product, which…

Q: Please explain why customer research should be done. Give at least two examples for different types…

A: Customers are the people who buy the goods and services of the business. It is very important to…

Q: Suppose that the fish processor could use a different production method that involves recycling…

A: Economic ProfitsEconomic profits are the revenue created minus explicit and implicit costs. Explicit…

Q: There are 38 nearly identical ABC stores within a one-mile radius in Waikiki. The combined size of…

A: a. There are 38 nearly identical ABC stores within a one-mile radius in Waikiki. The combined size…

Q: It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats.  Each coat…

A: According to the question,  It costs a coat manufacturer $8750 to make 125 coats and it costs $6500…

Q: The lean start-up approach suggests that entrepreneurs refine the products or services offered by…

A: The objective of the question is to understand whether the lean start-up approach involves refining…

Q: Which of the following sources of low costs is most popular? Group of answer choices   Economies of…

A: Cost is minimized when large output can be produced with limited resources and available technology.…

Q: Imagine that you own one of several popular restaurants in your area. Due to the Covid Pandemic of…

A: The law of demand says that , if other things are held constant, then an increase in price of the…

Q: In a business where, fixed costs are very high (i.e. the production of a new Music CD, or the…

A: Marginal cost refers to the additional cost of production incurred in the process of increasing…

Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.