When a company has a monopoly on a product, there is no other competition so that producer can price the product however high they want. When there is competition, the product must be priced appropriately or the consumer will go to another option. Additionally, monopolies can result is a lesser quality product.
Answer:
The answer to this question is option B. Deflation means that the price level is failing, whereas with inflation overall prices are rising
Explanation:
Inflation is an increase in the general prices of goods and services in an economy on the other hand, deflation is the general decline in prices for goods and services, indicated by an inflation rate that falls below zero percent.
Hence the answer is option B. Deflation means that the price level is failing, whereas with inflation overall prices are rising
Answer:
If the price of peaches goes down by $0.40 in the South, the quantity will decrease by 600 pounds per year.
Explanation:
- As given that the decrease in price by $0.40 per pound then the quantity in the North goes down by 600 pounds per years so from here we have understand that if the same prices goes down in the South, then the same decrease in pounds per year will occur i.e decrease in price by $0.40 per pound will result in the decrease in the quantity by 600 pounds per year.
Answer:
B. referent power is the correct answer.
Explanation:
- Referent power is the capability of a leader who has the power to influence and motivate followers.
- Referent power is power gained by those individuals who have influential and effective interpersonal relationships abilities.
- The advantage of referent power is that the referent leader has the ability to motivate and inspire the workers to be dedicated to their works.
