Xyz firm, the leading producer of leather goods in its country is planning to expand its business. industry experts identify asia as a potential target market. they report that substitute products, particularly in india, are highly-priced. darren, the operational head, feels that exporting their product to india is a good idea. according to him, their price advantage alone will ensure good sales. however, his colleague, mark, who is also the head of product development, feels that darren is too optimistic and that this venture may not turn out to be as profitable as darren expects it to be. darren's view is based on which of the following assumptions?
a. imports in india usually exceed exports from the country.
b. xyz's product is a close substitute for locally available goods.
c. consumers in india are extremely loyal to national brands.
d. india has high import tariffs.
e. the quality of the domestically produced substitutes is not as good as xyz's product.

Apopular low-cost airline, parson corp., has gone out of business. although the service and price provided by the airline was what customers wanted, the larger airlines were able to drive the low-cost airline out of business through an aggressive price war. which component of the competitive environment does this illustrate? a) threat of new entrants b)competitors c) economic factors d) customers d) regulators

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.