Wellcome was the first seller of decadent, gourmet-style, chocolate chip cookies and for several years it was the only producer of these cookies.
2) Currently, so many copanies are producing gourmet style cookies that wellcome has lost much of its market share and is now making a loss. Use a diagram to illustrate Wellcome market position. What would you expect to happen to Wellcome in the long run?
Urgent Econ question
2007-08-01 12:17 pm
回答 (1)
2007-08-01 12:39 pm
✔ 最佳答案
Wellcome demand curve for cookies shift to the left (Demand decrease)equilibrium price decrease
equilibrium quantity decrease
if the price decrease until lower AVC, wellcome will close/ loss
Price equal AVC , continue to operate, but not making any profit
above AVC, wellcome will continue to operate and may be making profit, depends on TFC
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