Answer:
Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that P = ATC, P>ATC, MR =MC, or MR>MC at the optimal quantity. Furthermore, the quantity the firm produces in long-run equilibrium is the efficient scale. True False
This indicates that there is a markup on marginal cost in the market for shirts. True False
Explanation:
In the long run, monopolistically-competitive entities produce at a level where marginal cost and marginal revenue are equal. This makes it impossible for individual companies to sell their products at prices above the average cost. This situation means that monopolistically-competitive companies will always earn zero economic profit in the long run.
Explanation:
An international strategy can be understood as the set of processes and action plans that a company will implement to achieve its objectives in an external market.
An organization decides to internationalize its activities with the objective of conquering a different market that can bring different competitive and financial benefits to the company.
To be successful, the organizational strategy must comprise the set of requirements that must be followed to include itself in a different market, such as, for example, the set of policies that will guide the operation of the business.
In addition, it is necessary to plan its activities in such a way that they are in line with the fundamental requirements of the country, such as multicultural norms, values, tastes, preferences, etc.
Companies generally use internationalization as a competitive strategy, since this can be an effective means of reducing costs, due to the cheaper labor and the less bureaucratic process. A well-positioned brand also guarantees a differential that adds to the ease of an organization being successful in the process of conquering new markets.
Answer: D) cyclical
Explanation:
Cyclical Demand is difficult to predict because it goes according to the business cycle and hence is affected on a Macro Economic scale by events at a National or International level.
This means that something could be in demand today but the demand could fall or rise sharply based on the stage of the business cycle the economy is in.
Answer:
The options for this question are the following:
A. payoff matrix.
B. mission statement.
C. tactical plan.
D. organization chart.
The correct answer is B. Mission statement.
Explanation:
A good mission statement is a useful tool for well-managed businesses. It is the "why" of business strategy.
A mission statement defines the objectives of what a company does by:
Your clients
The employees
Their owners
Some of the best mission statements also extend to include the fourth and fifth dimensions: what the company does for its community and for the world.
In terms of marketing, a mission statement is a brief paragraph that describes what your business does and why it exists. If that sounds like useless marketing that could be labeled as a long list of the most important things to do, you're not alone.
The reality is that many mission statements are ineffective. Usually, they are the ones written in minutes with very little thought from their creators.