At the profit-maximizing level of output, a monopolist will always operate where: <span>Price is greater than marginal cost
a company that obtains a monopoly within a market will have no competition that disturbs their market share of potential customers, therefore they technically could fully determine the most acceptable price for that specific market.</span>
The correct answer is C. Functional decomposition
The primary difference between a good and a service, both of which are products to the marketer, is that a good is __________ and a service is __________.<span>a physical object; intangible.</span>
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
Why do businesses take financial costs into account other than social costs when making decisions.?
The reason why is because businesses are created to make profits. And financial costs directly impact sales, revenue, and profits. Any other consideration that does not directly affect the balance sheet or the bottom line, is not considered a priority and takes the back seat when business decisions are made.
On the other hand, the social cost should be important and it is, but not as important as the financial costs for the above-mentioned reasons.
Social costs are more on the side of the ethics of the managers or leaders of the organizations. And ethics and moral values are not a prominent thing to be considered in the decision-making process of modern corporations.
More than 10,000 people waited in line for more than two hours to see a titan arum (a rare flower) at Cambridge botanic garden. an economist would conclude that people felt they got great benefit from seeing the flower.
An economist is an expert and practitioner in the social science field of economics. Individuals can also research, develop and apply economics theories and concepts and write about economic policy.
An economist is an expert who studies the relationship between society's resources and their production or output. Economists study societies ranging from small communities to whole nations to the global economy.
Economists study complex data and statistics and use their insights to provide financial advice to businesses. As an economist, you research and monitor economic trends and create statistical models to predict future developments.
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