The bakery market in a large city is an example of Monopolistic competition.
Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. In this case, the bakeries in large cities that produce similar, but not identical products. The market structure is a form of imperfect competition.
Some of the characteristic of a monopolistic competition structure are;
The presence of many companies.
Each company produces similar but differentiated products.
Companies are not price takers.
Free entry and exit in the industry.
Companies compete based on product quality, price, and how the product is marketed.
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#1 goal-setting #2 decision-making
The activity that Aaron, Korben and Zane is involved in is
the division of labor. This is a process or a step where a group or in an
organizations provides and assigns specific tasks or divides task among the
members or employees in a group or organization.
Answer:
1) True, because MR = P[1-1/e] demand is elastic if e> 1. Thus for e>1 MR is positive.
2) False, because for elastic demand increase in price will lead to fall in revenue.
3) False, because MR will be zero.( MR = P[1-1/e], put e = 1)
4) True, because MR will be positive
5) FaIse
Answer:
True
Explanation:
It's A.A because it makes more sense then b Falsehood
