Even when competitive firms are unable to calculate marginal revenue product directly, the pressures of competition in the labor market will push wage rates toward the marginal revenue product of labor.
By comparing the marginal revenue<span> and </span>marginal<span> cost from each unit produced, a </span>firm<span> in a </span>competitive<span> market can </span>determine<span> the </span>profit<span>-maximizing level of production.</span>
Answer:
fad product.
Explanation:
Fad -
It is the product , which has very less or limited utility , but is responsible for a very immediate increase in the sale and publicity , but it is immediately followed by reduction in the price and publicity , is known as a fad product .
Hence , as given in the question , the sale of the small toy cars increases rapidly and gained extreme popularity but within few months , the demand of the car drop down .
The statement is False. Any clutter from competitors' messages or other distractions in the environment does not influence the effectiveness of the mass-communication effort.
Some well-known examples of direct competition consist of Apple versus Android, Pepsi versus Coca-Cola, and Netflix as opposed to Hulu. however direct competition isn't exceptional for countrywide or worldwide manufacturers. two shoe shops in a rural metropolis are direct competitors.
Your competitor can be a new business imparting a substitute or comparable product that makes your very own redundant. competition isn't simply some other enterprise that could take money away from you. it could be every other service or product in improvement. You must start selling or licensing it earlier than somebody else takes it up.
Understanding who your competitors are, and what they are imparting, permits you to make your products, services, and advertising stand out. it will permit you to set your expenses competitively and help you to reply to rival advertising campaigns together with your personal projects.
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Answer:
c. A magazine ad that asks you to call a toll-free number for more information
Explanation:
The direct response print advertising is the advertising in which the customer get the immediate response from the advertiser about the advertisement in which the customer has an interest
Since in the given situation, the third options reflects the direct response print advertising in which the customer called the toll free information and immediately he or she get the response from the advertiser