Suppose ABC Dairy is one firm competing in the perfectly competitive market for milk. Now suppose ABC Dairy decides to produce only organic milk. Which of the following best describes the effects of this change in the market?
a. ABC Dairy will still be a price taker because it is still operating in a perfectly competitive market.
b. ABC Dairy will have a monopoly on organic milk due to very high entry barriers.
c. The other dairy firms will produce with excess capacity, but ABC Dairy will be efficient.
d. ABC Dairy is differentiating its product and will likely be able to charge a higher price than before.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose ABC Dairy is one firm competing in the perfectly competitive market for milk. Now suppose ABC Dairy decides to produce only organic ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If your content is focused on the different solutions to your buyer persona's problem, where would that content fit into the buyer's journey? 1. Awareness 2. Consideration 3. Decision 4. All of the above
Answers (1)
database of information used for research, patient follow-up, and improving public health programs may be a/an A. tumor board. B. correspondence management system. C. cancer registry. D. electronic medical record.
Answers (2)
A division can sell externally for $60 per unit. its variable manufacturing costs are $35 per unit, and its variable marketing costs are $12 per unit.
Answers (1)
The bookkeeper for Sunland Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.
Answers (1)
Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.46 million and inventory was $1.51 million. This year, costs of goods sold is $8.59 million and inventory investment is $1.
Answers (1)
New Questions in Business
a risk averse investor, which of the following four otherwise identical investment would you prefer? A. Security W, which exhibits a standard deviation of 2% and offers an average return of 12%. B.
Answers (1)
n a company's merit pay program, an individual's compa-ratio represents the individual's pay relative to company's average pay for that position. the individual's worth versus that of others in the organization.
Answers (1)
Some interview questions are designed to rattle you to see how you deal with stress. True or false.
Answers (2)
Organizational culture consists of three levels: Select one: a. assumptions, orientations, and beliefs. b. beliefs, values, and artifacts. c. artifacts, assumptions, and beliefs. d. assumptions, artifacts, and values.
Answers (1)
What term refers to a set amount of money kept in the cash register to make change with? A. Excess cash B. Standard cash stock C. Cash drop D. Cash float
Answers (1)