Answer:
The correct answer is D
Explanation:
Normal profit also called as the fair return, which means staying in the business without subsidy, higher social welfare, price exceeds the marginal costs and there is no reason for the monopolist to the cut the costs.
Thus, the general problem with adopting or acquire the normal normal profit pricing for the natural monopoly, is that it is not efficiently allocative.
Allocative efficiency states a situation or a condition in which the output of every product is such that that marginal cost and the market price are equal or vice- versa.
Answer:
c. marginal benefit is less than the marginal cost of the good.
Explanation:
Allocation of resources is important in every nation or society because, human wants are unlimited whereas the resources meant to satisfy these wants are in short supply. Therefore, only the most important needs are satisfied before the less important needs. Marginal benefit is the maximum sum of money that consumers are willing to pay for an additional good or service. Marginal cost is the difference in cost when a new or additional unit of goods is produced.
Nations would allocate less to the production of a good when the maximum price consumers are willing to pay for an added unit of that good becomes less than changes in cost when a unit of that good is produced. Marginal benefit reduces when consumption of the good has increased to a reasonable extent. The consumers then lose interest in paying more for that good.
Answer: Their criteria for approving a loan are much less stringent than those for larger banks. Explanation: ... The principal reason why people approach smaller banks for a loan is that their criteria for approving a loan are much less stringent than those for larger banks.
The understanding comes primarily from better and more skilled management personnel.
<h3>
What are management personnel?</h3>
- Human Resources Management is the administrative function within an organization that oversees the employment, organization, and support of employee positions.
- Human resource management is a branch of human resource management focused on recruiting the right people and supporting those already working for the company.
- A key executive is an individual who has the authority and responsibility to directly or indirectly plan, direct and control the activities of an enterprise, including directors (executives or others) of that enterprise.
- Good human resources management is responsible for creating and maintaining a harmonious work environment.
- This includes ensuring that the company's compensation and benefits strategy fosters success, employee disciplinary and grievance procedures, effective communication, and sound health and safety policies.
Thus, management personnel helps to achieve the organizational goals which lead to profit maximization.
To know more about personnel management refer to:
brainly.com/question/25443563
#SPJ4
