Answer:
B. Homogenous product
Explanation:
Monopolistic competitive market is a market structure in which there are many sellers selling differentiated product.
Differentiated product are product that vary in taste or style. They are goods that can be substituted.
Monopolistic competitive firms gain some degree of market power by differentiating their products from those of other firms in the industry. Monopolistic competition firms achieve price control by selling a product that is in some way(s) different from close substitutes product.
Features of Monopolistic competitive firms
1. Existence of many sellers
2. Heterogeneous goods are sold
3. Existence of close substitute
4. Absence of barrier to entry of new firms and free exit to existing firms.
5. Existence of competitors.
<span>During an economic recession when the income of consumers has decreased, the BP station (an all gas stations) will see a leftward shift in the demand curve. This will result in gas stations having to lower their prices. If they don't lower their prices, they will have a glut of gasoline that they can't sell.</span>
Answer: (C) Mission statement
Explanation:
Mission statement is one of the type of organization statement that is developed by the manager for the various types of fundamental purpose in an organization.
The primary objective of the mission statement in an organization is that it deals with the strategic planning by achieving long term goals.
According to the question, the employees worked with the manager in an organization for developing the mission statement that helps in outline the various types of fundamental process.
Therefore, Option (C) is correct.
The part of a house that is not considered as the exterior finish of a house is the Ceiling of a porch or breezeway.
<h3>What is the exterior finish of a house?</h3>
The exterior finish of a house refers to an outer layer or structure that can be seen physically from the outside and add to the image of the entire house.
A cornice is a horizontal architectural design of a building that is positioned away from the main walls used in directing rainwater from the building walls.
Thus, the exterior finish of the house is:
- An entry door
- Cornice
- Exterior wall coverings
From the given options;
- The ceiling of a porch or breezeway is usually inside the house.
Therefore, the part of a house that is not considered as the exterior finish of a house is the Ceiling of a porch or breezeway.
Learn more about a house here:
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