Conflict theory is a framework in which conflict is the result of a wrong, or wrong distribution of resources. This could be the case in colonial Africa, as the European colonies enjoyed many resources.
<h3>How did European colonization affect the African economy?</h3>
Colonialism made African colonies dependent on introducing a unique cultural economy in the region.
The Europeans also humiliated African workers and traders. It forced the Africans to work in the colonial lands for very low wages and deported them.
Thus, the theoretical paradigm that can be associated with these economic challenges is Conflict theory.
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Answer: A monopolist "C. is constrained in its pricing decisions by the demand curve it faces."
Explanation: The market demand curve (negative slope) for a company that exercises a monopoly position is very important, since it is the one that marks the limit to its decision making. For example, a company that would like to increase its price to the highest possible level could do so, but as the price increases, the quantity it sells is reduced, with which the maximum possible price would lead it to have a demand of zero. On the other hand, if you want to produce as much as possible, again the demand curve works as a border, because for the demand in the market to acquire a greater amount, the price at which you must sell your product is reduced, to the point in that it can meet all the demand at the intersection in the demand curve on the horizontal axis, but at this level the price of the product should be zero. Then it is clear that the demand in the market marks an important restriction for the company to choose an amount or the price at which it will produce.
Answer:
For the competitive firm marginal cost is $5. For the monopolist marginal cost is less than $5.
Explanation:
The price of the product of the competitive firm is $5. We know that a competitive firm is a price taker and produces at the point where the price is equal to the marginal cost of producing the last unit.
A monopolist, on the other hand, is a price maker. It produces at the level of output where the price is greater than the marginal cost of producing the last unit.
Social entrepreneur is a type of entrepreneur that starts a business or organization that is meant to improve society in some ways.
Social entrepreneur focuses on the society problems and find ways to solve them.
