An economic system is a means by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country.
What is an Economic System?An economic system is a mechanism used by communities or governments to coordinate and distribute resources, services, as well as goods throughout a territory or nation. The factors of production, such as land, capital, labor, and physical resources, are governed by economic systems.
A society's or a specific geographic area's system of production, resource allocation, and distribution of products and services is known as an economic system or economic order.
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Marlene routinely volunteers to organize the company holiday party and summer picnic. Marlene demonstrates a high level of Question 24 options: a) organizational citizenship behaviors. b) job performance. c) self-importance. d) insecurity and the need for social acceptance.
Marlene routinely of volunteers to the organize the company holiday party and the summer picnic. Marlene demonstrates a high level of "self-importance". The correct option is C.
The volunteers are referred to those individuals who offers or agree to do the work without paid or incentives. They can be contributed their knowledge and doing the hard working to understand the work of charity as close to be understand the process of skills and deep things.
The volunteers are the person who performs their work activity or to perform their volunteer services. Marlene routinely of volunteers to the organize the company holiday party and the summer picnic. Marlene demonstrates a high level of self importance.
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The above figure shows the market for gourmet ice cream. In effort to reduce obesity, government places a dollar 5 tax per gallon on suppliers in this market, shifting the supply curve from S_0 to S_1. The quantity of ice cream consumed before the tax is gallons and the quantity consumed after the tax is gallons. a. 300,000;200,000 b. 250,000;200,000 c. 200,000;250,00 d. 200,000;200,000
Let's imagine the government enacts legislation that charges consumers a $1 tax every gallon of ice cream.
The demand curve is a graphical representation of how the cost of a commodity or service relates to how much is wanted over time. Typically, the quantity needed will be indicated on the right-hand horizontal axis, and the price will be displayed on the left-hand vertical axis. The law of demand, illustrated by the demand curve, states that, when all other factors are equal, the quantity sought for a given commodity will decrease as its price increases. It's important to keep in mind that this formulation suggests that quantity is the dependent variable and price is the independent variable. The demand curve, where the independent variable typically lies on the x-axis, does not apply to economics.
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Annual costs for a 4-year loan at 10% will be about $30 for each $100 borrowed (30/100 x amount borrowed x 4). How much are the approximate total costs (4-year loan, plus downpayment, plus initial costs) for each car?
To calculate the approximate total costs for each car, we need to add the annual costs for the 4-year loan, the downpayment, and the initial costs. Here's how to do it:
1. Calculate the annual costs for the 4-year loan: $30 for each $100 borrowed x amount borrowed x 4 = annual costs
2. Add the downpayment to the annual costs: annual costs + downpayment = total loan costs
3. Add the initial costs to the total loan costs: total loan costs + initial costs = approximate total costs
So, the approximate total costs for each car will be the sum of the annual costs for the 4-year loan, the downpayment, and the initial costs.
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True/False. the convention on combating bribery of foreign public officials in international business transactions obliges member states to make payments to expedite routine government action a criminal offense.
Member nations are obligated under the convention on combatting bribery of foreign public officials in international commercial transactions to make payments to speed up ordinary government activity a crime. This statement is true.
The Convention on Combating Bribery of Foreign Public Officials in International Business Transactions requires member states to make payments to expedite routine government actions a criminal offense.
The Convention is a legally binding instrument, ratified by 44 countries, that aims to combat the bribery of foreign public officials in international business transactions. The Convention provides specific guidelines to member states to prevent, detect, and investigate bribery of foreign public officials in international business transactions, and to ensure sanctions are in place to address such conduct.
The Convention also provides for regular monitoring and review of member states' implementation of the Convention's provisions, including the criminalization of facilitation payments.
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Choose the best explanation as to why both consumers and producers perform cellular respiration.
Both consumers and producers perform cellular respiration to break down glucose and other organic molecules to release energy in the form of ATP. In cellular respiration, glucose is oxidized, and its energy is used to produce ATP, which is used for various metabolic processes in the cell. Here option B is the correct answer.
Producers, such as plants, perform photosynthesis to produce glucose, which is then broken down in cellular respiration to release energy. Consumers, such as animals, obtain glucose by consuming other organisms, and then they break down glucose through cellular respiration to release energy.
Therefore, both producers and consumers perform cellular respiration to meet their energy needs, as ATP is the universal energy currency for all living organisms. While producers can produce their own glucose through photosynthesis, they still require cellular respiration to break down the glucose and release the energy needed for various metabolic processes.
Complete question:
Why do both consumers and producers perform cellular respiration?
A. To produce glucose for energy
B. To break down glucose for energy
C. To produce oxygen for the environment
D. To break down carbon dioxide for photosynthesis
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All of the following tests are included in the ethical decision-making metric exceptA) the admired observer test.B) the legality test.C) the moral mentor test.D) the publicity test.E) the transparency test.
The ethical decision-making metric typically includes tests such as the legality test, the moral mentor test, and the admired observer test.
What is the legality test?The legality test refers to whether the decision aligns with the laws and regulations in place. The moral mentor test involves considering what a respected moral authority, such as a religious figure or personal hero, would do in a similar situation. The admired observer test involves asking how one's actions will be perceived by those they admire and respect.
Option D, the publicity test, is not typically included in the ethical decision-making metric. The publicity test refers to whether a decision would be considered ethical based on how it would be perceived by the public. While public perception can be a factor in ethical decision-making, it should not be the sole determining factor.
Option E, the transparency test, also may not be included in the ethical decision-making metric but it is an important aspect of ethical decision making. Transparency refers to being open and honest about one's actions, and ensuring that all relevant information is disclosed. This helps to build trust and accountability, and ensures that decisions are made in an ethical and responsible manner. Ultimately, the specific tests included in an ethical decision-making metric may vary, but the aim is to help individuals make decisions that are in line with their values, principles, and the greater good.
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when the price elasticity of demand for a product is relatively price elastic and price is ______, total revenue will ______.
Even though a product's demand is slightly price elastic, the overall revenue will decrease if the price is raised.
What is the price elasticity of demand?The relationship between the percentage change in a product's quantity demanded and the percentage change in price is known as price elasticity of demand.
It helps economists comprehend how supply and demand shift in response to changes in a product's price.
Total revenue will drop if a product's price is raised even when its demand is somewhat price elastic.
Price elasticity gauges how responsive your product's supply and demand are to price fluctuations.
The price elasticity of demand, for instance, gauges how many people will still buy your good or service even if the price goes up.
Therefore, even though a product's demand is slightly price elastic, the overall revenue will decrease if the price is raised.
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The global tuna trade is a huge money-making venture, due to the Japanese people's desire for sushi and sashimi. Trace the lengthening tuna commodity chain to understand the interconnectedness of worldwide trade and commerce.Years of overfishing send fish populations off Japan's coast into decline.Japanese traders start buying fish caught in the North Atlantic.Tuna caught in the North Atlantic is sold at the Tsukiji Fish Market in Tokyo.North Atlantic fish is made into sushi for consumption in Japanese restaurants.
By upsetting food networks, overfishing reduces the ecosystem's stability. Because the Fresh Fish is profitable, more businesses will want to enter the sushi sector.
Fish populations, water pollution, and habitat deterioration are just a few of the concerns that the fishing industry has an impact on when it comes to marine preservation. According to some researchers, a significant reduction in the scale of the fishing industry is required to sustain globally healthy marine habitats. As a result, by upsetting food chains, overfishing reduces the stability of the environment. When a business introduces a really successful product or service, other businesses—existing or new—may start to offer the same kind of service (such as Uber's ride-sharing service). This is essentially what happens in this hypothetical situation.
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Many of mexico's factories are found near the border it shares with the united states. manufacturing is a significant part of mexico's growing economy. What is the most likely advantage of locating manufacturing centers near the mexico-united states border?
The close proximity of Mexico to the US reduces expenses while increasing revenues. Businesses close to the border with Mexico can save money on shipping and freight compared to operations abroad.
What are the advantages of locating manufacturing centers?Mexico's near proximity to the United States lowers costs while raising profits. Businesses near the U.S.
Mexico border can benefit from lower shipping and freight expenses compared to those of a foreign operation.
By integrating American cutting-edge technology with less expensive labor and supplies from Mexico, American businesses are able to compete more successfully in global markets.
Mexican wages are lower than those in several Asian nations.
In terms of labor costs, the typical business can save close to $1 million annually.
The establishment of maquiladoras for Mexico as well as any border communities or states where they may be placed has several advantages, the most important of which is economic gain.
Therefore, the close proximity of Mexico to the US reduces expenses while increasing revenues. Businesses close to the border with Mexico can save money on shipping and freight compared to operations abroad.
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Which lung value in the spirogram would you see the greatest change?
The lung value in the spirogram that would show the greatest change is the "forced expiratory volume in one second" (FEV1). This value measures the amount of air a person can forcefully exhale in one second after taking a deep breath.
It is used to assess lung function and can be affected by conditions such as asthma, chronic obstructive pulmonary disease (COPD), and other respiratory disorders.
A reduced FEV value indicates that there may be an obstruction in the airways, which can be caused by inflammation, narrowing of the airways, or mucus buildup.
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A cost that changes in proportion to changes in volume of activity is a(n):
A cost that changes in proportion to changes in the volume of activity is variable. Variable costs are expenses that vary with the output or sales volume level, meaning that the cost will increase or decrease in proportion to the increase or decrease in the activity level.
Examples of variable costs in a business include raw materials, direct labor, commissions, and shipping costs. As production or sales increase, variable costs increase, and as production or sales decrease, variable costs decrease.
This makes variable costs an important consideration for businesses when forecasting costs and setting prices, as changes in sales volume will directly impact the level of variable costs.
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Which account does a merchandiser use that a service company does not use?
Sales revenue is the account a merchandiser use that a service company does not use.
What is sales revenue account?
It serves as the primary revenue account for industrial and retail businesses. Sales discounts is a contra-revenue account that shows a reduction in the price that customers received for paying in advance. It is deducted from Sales on the income summary.
The assets made by a company's operations and business actions are its revenues. To put it another way, revenues comprise the money or receivables a business receives from the selling of its products or services. The revenue account has a credit amount and is an equity account. Therefore, a credit to the revenue T-account results in a rise in the account balance.
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Production of agricultural products destined primarily for direct consumption by the producer rather than for market is called responses plantation farming plantation farming hunting and gathering hunting and gathering subsistence agriculture subsistence agriculture sedentary cultivation sedentary cultivation shifting-field agriculture.
The production of agricultural products primarily intended for the consumption of the producers rather than for the market is referred to as subsistence agriculture. Here option C is the correct answer.
It is a farming system that focuses on producing enough food for the family or the community to survive, rather than generating surplus products for sale. It involves growing crops and raising livestock using low-technology and traditional methods, with minimal use of modern tools and technologies.
Subsistence agriculture is mostly practiced in developing countries, where the majority of the population is engaged in agriculture as a primary source of livelihood. The purpose of subsistence agriculture is to ensure food security and self-sufficiency for the producers and their families, rather than producing for commercial purposes.
This type of farming is highly dependent on natural resources and environmental conditions and can be vulnerable to weather fluctuations and natural disasters.
Complete question:
Production of agricultural products destined primarily for direct consumption by the producer rather than for market is called
A - Plantation Farming
B - Hunting and Gathering
C - Subsistence Agriculture
D - Sedentary Cultivation
E - Shifting-Field Agriculture
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From the list below select the business and in retail industry
The business in the retail industry from the list below is: C. Department store.
What is the retail industry?The retail industry involves businesses that sell finished goods directly to customers for personal or household consumption. Therefore, the business from the list that is in the retail industry is the one that sells finished goods.
A. City Park is a public recreational area and does not sell finished goods, so it is not in the retail industry.
B. A Doctor's office provides medical services and does not sell finished goods, so it is not in the retail industry.
C. A Department store is a retail business that sells a wide variety of finished goods such as clothing, footwear, accessories, home furnishings, appliances, and electronics, among others, so it is in the retail industry.
D. A Car Repair Shop provides automotive repair and maintenance services and does not sell finished goods, so it is not in the retail industry.
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The complete question is:
From the list below select the business and in retail industry
O A. City Park
O B. Doctor's office
O C. Department store
O D. Car Repair Shop
what is chick fill business history?
Chick-fil-A is a fast food restaurant chain that specializes in chicken sandwiches. The business was founded in 1946 by S. Truett Cathy, who opened the first restaurant in Hapeville, Georgia. The company's business history includes several milestones, such as the introduction of the Chick-fil-A Chicken Sandwich in 1964, the opening of the first freestanding Chick-fil-A restaurant in 1986, and the launch of the company's catering division in 2001.
Chick-fil-A has also experienced significant growth in recent years, with the company's sales surpassing $10 billion in 2018. Throughout its business history, Chick-fil-A has remained a privately held, family-owned company, with Cathy's son, Dan T. Cathy, serving as the current CEO.
One of the unique aspects of Chick-fil-A is its commitment to being closed on Sundays. This policy was established by Truett Cathy in 1946, and the company has continued to follow this tradition, with the exception of a few instances where the chain has provided food to emergency responders during natural disasters.
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In a new worksheet, what's the correct formula to reference Cell A1 from the ALPHA worksheet? =ALPHA?A1 =A1 ="ALPHA"A1 =ALPHA!A1 ='ALPHA'A1
The correct formula to reference Cell A1 from the ALPHA worksheet is: ='ALPHA'!A1.
The right recipe to reference Cell A1 from the ALPHA worksheet would be ='ALPHA'!A1. This recipe utilizes the punctuations to indicate the worksheet name (ALPHA) and the interjection imprint to isolate the worksheet name from the cell reference (A1). By remembering these characters for the recipe, you can reference a particular cell in another worksheet. This can be helpful for pulling information starting with one worksheet then onto the next or performing estimations across various worksheets.
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The buildings, structures, machinery, and tools used in the production process are called _____ goods.
Capital goods are the structures, equipment, tools, and machinery used in the industrial process.
What are the names of the tools, machinery, and equipment used to make goods?Business enterprises use durable, man-made capital products to produce goods and services. They consist of things like furniture, structures, cars, and machines.
What do we term the equipment designed to create other products?the equipment, machinery, and structures needed to manufacture commodities and services. capital items physical capital is another name for the manufactured items—tools, machinery, structures, or other manufactured goods—used in production. correlation.
What equipment is employed in the production of goods and services?Resources that are used to produce commodities and services are known as factors of production. They constitute the foundation of the economy.
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What is the first step in the employee selection process?
The first step in the choice cycle is to review job applications.
A worker is a period for laborers and leaders running for an association, association, or organization. these people are the collection of laborers of the association. In vogue, any individual recruited through an organization to do a particular action in exchange at the cost is a representative, be that as it may, there are one-of-a-kind assortments of workers.
In certain countries, bosses are expected through guidelines to do specific matters, such as comply with least compensation lawful rules, give a safe managerial focus, and at times settle a duty. Businesses additionally need to give their true workforce gifts, such as acquiring clinical health care coverage.
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credit is when you have to put down a security deposit or use something as collateral. True or False
Put simply, collateral is an item of value that a lender can catch from a borrower if he or she fails to repay a mortgage in accordance to the agreed terms. One common instance is when you take out a mortgage. Normally, the financial institution will ask you to grant your domestic as collateral.
What is a protection savings credit?Secured credit cards function a lot like normal deposit cards. The major distinction is that with a secured card, you pay a cash deposit upfront to warranty your credit line. While deposit history may also be used to decide eligibility for a secured card, the line of savings it gives requires a protection deposit.
Secured loans require collateral. Unsecured loans—which consist of types of non-public loans and credit score cards—don't. Collateral can take the shape of a physical asset, such as a automobile or home. Or it ought to be a monetary asset, like investments or cash.
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a) 30:50
b) 10:30
c) 20:40
d) 40; 60
After the change, the supply of shoes would increase by 20 pairs at every price level. Therefore, the amount of shoes supplied at a price of $60 after the change would be 40 pairs.
If the price of leather used to make shoes falls, it will decrease the cost of production of shoes, leading to an increase in the supply of shoes. The increase in supply is represented by a rightward shift in the supply curve.
Since the question provides that the supply of shoes has increased by 20 shoes at every price, this means that the quantity supplied at a price of $60 before the change was 20 shoes less than the new quantity supplied after the change.
Assuming that a pair of shoes is represented by one unit, the amount of shoes supplied at a price of $60 before the change was 20 pairs (since 20 shoes = 10 pairs).
After the change, the supply of shoes would increase by 20 pairs at every price level. Therefore, the amount of shoes supplied at a price of $60 after the change would be 40 pairs (since 40 shoes = 20 pairs).
So the correct answer is (c): 20:40.
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Cate started with $0 in her account. After one week cate saved $1; after two weeks she saved $4; after three weeks she saved $9; and after four weeks she saved $16.
Cate is following an exponential growth pattern, which is common for savings accounts that earn interest. Each week, her savings increase by a factor of 2.
In other words, the amount she saves each week is equal to the previous week's total multiplied by 2. The formula for this exponential growth pattern can be represented as follows:
savings(week n) = savings(week n-1) * 2
We can use this formula to determine Cate's savings after any number of weeks. For example, after 5 weeks, her savings would be:
savings(week 5) = savings(week 4) * 2
= $16 * 2
= $32
And after 6 weeks, her savings would be:
savings(week 6) = savings(week 5) * 2
= $32 * 2
= $64
And so on.
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an expense that costs the same whether or not a firm is producing a good or service
A fixed cost is an expense that remains the same whether or not a company is producing a good or service.
Fixed costs are costs incurred by a business that remain constant regardless of the level of activity. Rent, salary, insurance, property taxes, interest costs, depreciation, and possibly certain utilities are some examples of fixed costs.
Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs. There are some taxes that are fixed costs as well, such as company licences.
Capital expenditures, commonly referred to as indirect costs or overhead costs in accounting and economics, are costs incurred by a corporation that are independent of the volume of goods or services it produces. They frequently occur again and again, like monthly rent or interest payments.
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a sustaining innovation is one that initially provides a lower level of performance than the marketplace has grown to accept. Can an organization spend less than another on information systems but still get better value?
Porter's five-forces model states that the less likely it is for businesses to seek out a competitive advantage and the less noticeable the effects of such an advantage will be, the more these forces combine in any given situation.
What is competitive advantage?In order to provide goods or services better or more affordably than its competitors, a corporation must have a competitive advantage. These elements enable the productive unit to produce more sales or higher margins in comparison to its competitors in the market. The term "cost advantage" describes the competitive edge a company can obtain in its market based on costs. Offering lower prices for the same items or increasing profits by reducing production costs are two examples of how to do this. A competitive advantage is a quality that enables a company to outperform its rivals in the business world.
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Are adjusting journal entries made at the end of the accounting period?
An adjusting journal entry is typically made at the end of an accounting period to recognize an income or expense in the period that it is incurred.
What is an entry in an Adjusting Journal ?An adjusting journal entry is typically made at the end of an accounting period to recognize an income or expense in the period that it is incurred. A product of accrual accounting, it is based on matching and revenue recognition principles. According to the matching principle, revenues and costs should be reported in the same accounting period in accrual accounting. In addition, it is determined by the revenue recognition principle that both revenues and expenses must be recorded during the period in which they are actually incurred. However, in practice, revenues may be generated in one period while expenses are incurred in another. Additionally, cash may not be received or earned concurrently with incurred expenses or income.
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The formula a = pert gives the balance a of an account earning what type of interest?.
The formula A = Pe^rt gives the balance A of an account earning interest compounded continuously.
The interest earned on an account that is continuously compounded, which inevitably results in an infinite number of compounding periods, is calculated using the continuous compound interest formula.
The formula for it is: A = Pe^rt
Where,
A = Amount of money following a predetermined period of time
P = Principle, or the initial sum of money
e = Napier's number, or roughly 2.7183
r = Interest rate, which is always expressed as a decimal.
T = the duration in years.
This effect of compounding is maximized by the continuous compounding formula. Continuous compounding will effectively reinvest gains indefinitely as opposed to compounding interest on a monthly, quarterly, or annual basis.
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A consumer group is interested in estimating the proportion of packages of ground beef.
384 packages of ground beef should be tested to estimate the proportion to within 0.05 with 95% confidence.
The sample size required to estimate the proportion of packages of ground beef with an actual fat content exceeding the fat content stated on the label can be calculated using the formula
n= (z^2*p*q)/(E^2)
where n is the sample size, z is the z-score, p is the estimated proportion, q is 1-p, and E is the margin of error. In this case, z=1.96 for 95% confidence, p is estimated to be 0.5, q is 0.5, and E is 0.05.
Plugging these values into the formula gives us a sample size of 384 packages. Therefore, 384 packages of ground beef should be tested to estimate the proportion to within 0.05 with 95% confidence.
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when revenue is credited, the possible three debits are__
The closing and transfer of the credit balances in the revenue accounts to the owner's capital account at the conclusion of the accounting year will raise owner's equity.
What is credited when a revenue debit occurs?When it comes to the revenue accounts on the income statement, debit entries show a drop in the account while a credit shows an increase. The basis of double-entry accounting is the idea of offset credits and debits.
Is money received in revenue a debit or credit?An rise in debits in a revenue account will result in a decline in balance. This is due to the fact that when revenue is earned, it is noted as a credit to the revenue account and a debit to the bank account. The balance in a revenue account will rise as credits rise.
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The production possibilities frontier model assumes all of the following except
a. the economy produces only two products.
b. the level of technology is fixed and unchanged.
c. labor, capital, land and natural resources are fixed in quantity.
d. production of goods requireds full employment of all resources
The production possibilitis frontier model assumes all of the following except b. the level of technology is fixed and unchanged.
What are a production possibilities frontier's three underlying presumptions?The following basic premises underlie the production possibility curve: Resources are provided and don't change. The technology employed in the manufacturing process doesn't change. The technology and resources are effectively and completely used.
A production possibilities curve (PPC) depicts the greatest quantity of one commodity that can be produced given the degree of production of another good, the total quantity of inputs available to manufacture both commodities, and the production technique.
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The perceived demand for monopolistic competitor a. disregards competitors b. takes competitors into account c. is flat d. Is steep
The apparent interest for monopolistic competitor b. considers competitor .While this has all the earmarks of being moderately direct, the state of the interest .
What ends up requesting in monopolistic competitor?The interest bend of a monopolistic competitor market slants descending. This intends that as cost diminishes, the amount requested for that great increments. While this has all the earmarks of being moderately direct, the state of the interest bend has a few significant ramifications for firms in a monopolistic cutthroat market. Three circumstances describe a monopolistically serious market. To start with, the market has many firms, none of which is enormous. Second, there is free section and exit into the market; there are no hindrances to passage or exit. Third, each firm in the market creates a separated item. The apparent interest bend shows the expansion in amount requested of a result of a firm when a firm reduces down its cost given others keep their costs at the current level.
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The three main ways to end a partnership are: bankruptcy, dissociation, and winding up.
Responses
True
False