Answer:C. Simultaneous production and consumption.
Explanation:
Production and consumption occuring at the same time will not make products to differ.
Heterogenity which refers to different qualities in firms will lead to different products. Time perishable capacity which means idle time during low patronage will still allowed products differences, Abilities to limit the discretionary input of personnel will not debar product differences and Customer provides significant input into the process will allowed products differences.
Answer:
Economic profit $10,000
Explanation:
Income earned as an assistant professor = Salary + Interest on bonds = 75000 + 5% on 100,000 = 75000 + 5000
Income earned as an assistant professor = $80,000
Income from the bookstrore = $90,000
In calculating economic profit, opportunity costs are deducted from revenues earned.
Economic profit = $90,000 - $80,000 = $10,000
Answer:
D) Problem removal
Explanation:
Since it has been discovered that women don't like loud music, a woman who just left a loud music technology store for Best Buy stores that doesn't play loud music will have her 'problem removed'.
Best Buy store can be regarded as a problem removal store by helping women to solve their problem of listening to loud music.
Women Will have a good and problem removal experience in Best Buy Store.
Best Buy store has had an advantage against other stores because they don't play loud music and more women will patronise them, thereby, increasing their profits.
Answer:
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Explanation:
Answer:
Option C - each seller supplies a negligible fraction of total supply.
Explanation:
Price is constant to the individual firm selling in a purely competitive market because each seller supplies a negligible fraction of total supply.
