Option c.) is more elastic than the demand curve facing a perfectly competitive firm as the demand curve or the AR curve of a perfectly competitive firm is parallel to the horizontal axis, perfect elastic is the correct answer.
This means that the company does not control the price. The company assumes a price and sells the quantity of the product at that price. In a perfectly competitive market, a single firm faces a demand curve with infinite elasticity. In a perfectly competitive market, firms do not fix prices, but choose levels of production at which marginal costs equal market prices.
Under conditions of perfect competition, a firm can sell any quantity of goods at the prevailing price, so the firm's demand curve is perfectly elastic. So even a small price increase will result in zero demand. This suggests that the company does not control prices.
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Answer:
Marginal Revenue Product=150
Marginal Resource Cost= 100
Explanation:
Marginal revenue product (MRP) is the change in total revenue that results from a unit change of some type of variable input.
Marginal Revenue Product= Revenue Change
/Additional Input
Marginal resource cost (MRC) is the change in total cost that results from a unit change of some type of variable input.
Marginal Resource Cost= Cost Change
/Additional Input
In this situation we must calculate the change of revenues (MRP) and cost (MRC) when we add a new vehicle.
We are increasing our delivery fleet in 1 unit
First calculate the change in total revenue
Total revenue= 1,500 packages * $0.10 in revenue=150
Marginal Revenue Product=$150/1=150
The Cost change is $100,
so Marginal Resource Cost= $100/1=100
Answer:
The correct answer is letter (1): True.
Explanation:
Implementing a horizontal approach within a firm might not always imply a smooth transition. Some employees may find it hard to communicate with their coworkers because of factors of their personalities or just because they are not familiar with it. In such cases, leaders must intervene as bridges of communication moreover when conflicts must be solved between subordinates.
It can be noted that when the addition of more features to an existing product overwhelm the customers, it is known as feature fatigue.
<h3>What is feature fatigue?</h3>
Feature fatigue simply means when consumers shy away from products that appear to be rich in features.
This occurs ehen a company continually adds more features to an existing product to try to appeal to more customers may end up overwhelming customers and create an unintended consequence.
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