Answer:
less than one
Explanation:
In the case when the demand of the product is inelastic that means the value of the price elastic of demand would be less than one
Therefore as per the given situation the last option is correct
And, the rest of the options are incorrect
So the same is relevant
Answer:
a new market simply means a new group of people never before reached
Explanation:
Answer:
a, b
regions and countries.
Explanation:
Often termed <u>global marketing strategy</u>, involves bridging the cultural gap by producing advertising that appeals to countries from several different regions in the world.
Disney is a good example of a company that uses a global marketing strategy, another example is Coca-cola because of irrespective of the regions they produce products that appeal to their consumers.
Answer:
Marginal Product is 2
Explanation:
Marginal Product (MP) is defined as the ration of change in quantity of output produced to the change in quantity of input raw material
Change in quantity of input raw material 
Change in quantity of output of products = 13 - 9 = 4
Marginal Product (MP) 
Marginal Product is 2
Answer:
a higher price and produce a smaller output than a competitive firm
Explanation:
A monpolistically competitive firm is a firm that :
1. Sells differentiated products from other firms in the industry.
2. Has many buyers and sellers
3. Is a price maker
4. Has no barrier to entry or exist of firms
An example of a monpolistically competitive firm is a resturant.
A competitive firm is a firm that:
1. Sells identical goods with other firms in the industry.
2. Is a price taker . Prices are set by forces of demand and supply
3. Has many buyers and sellers
4. There are no barriers to entry or exist of firms.
When a monopolistic and competition firm are faced with the same unit cost, a monopolistic firm would aim to earn profit by increasing its price and reducing the quantity produced.
While a perfect competition would sell at the price set by the forces of demand and supply. The firm can increase the quantity produced in order to increase revenue.
A monopolistic firm is able to charge a higher price for its products while a perfect competition isn't.