Compared to a purely competitive firm in long-run equilibrium, the monopolistic competitor has a higher price and lower output.
<h3>
When a monopolistic competitive firm is in long-run equilibrium?</h3>
Long Run Monopolistic Competition Equilibrium: Over the long run, a company in a market with the monopolistic competition will produce several items at the point where the long-run marginal cost (LRMC) curve crosses the marginal revenue curve (MR). Where the quantity produced lies on the average revenue (AR) curve will determine the pricing.
<h3>
What ultimately transpires to a monopolistic rival?</h3>
Long-term economic gains or losses in monopolistic competition will be removed by entry or leave, leaving firms with no economic gains. There will be some excess capacity in a monopolistically competitive business; this could be seen as the price paid for the variety of products that this market structure brings about.
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Paraplegic is set to manifest in an individual if the person
has paralysis on both of his or her lower limbs and the cause of this is likely
because of an injury or spinal disease. The life expectancy of a person who has
this illness is not definite because early than 18 months, there is already
death within individuals who has this disease. But base on researches, its life
expectancy is 18 months.
Answer:
Revised Equity Section of Balance Sheet After October 11
<u> </u>
Common Stock at par $820,000
Paid-in capital in excess of Par <u> $266,000</u>
Total Contributed Capital $1,086,000
Retained earnings <u> $ 944,000</u>
Total $2,030,000
Less: Treasury Stock <u> ($ 210,000)</u>
<u>Total Stockholder's Equity $1,820,000</u>
Treasury stock = 6,000 * 35
= $210,000
Answer:
The contingency perspective assumes that the external environment is constantly changing, whether due to competition or customer preferences, while the evidence based management seeks to find ‘best practices’ with data-driven evidence to support solutions.
a. contingency perspective
b. Evidence based management
Explanation:
Management can be defined as the act of planning, directing and controlling people and resource to achieve set organizational goals. There are different perspectives of management. Some of the examples of management perspectives are; contingency perspective and evidence based management. They are further explained below;
a. Contingency perspective
The contingency perspective is a management theory that seeks to provide management solutions to the problems by examining the context of the problems. It involves assessing the external environment that coming up with a management solution that fits the problem. The external environment can be defined as anything outside the organization or the business that can affect the management of that organization or business. They include factors like; competition and customer preferences. Since the external environment is always changing, new and more efficient management techniques also need to be adopted as opposed to having one rigid management perspective. The contingency perspective has the advantage of learning from situations and utilizing the solutions that worked on similar problems in the future.
b. Evidence based management
Evidence management should be on the basis of critical thinking and the best method available considering accessible evidence. The evidence has to be factual data that can be used to formulate a hypothesis. Evidence always involves scientific research or something that is gained through experience that can be used to validate a claim. In the business world, most managers don't rely heavily on the evidence, rather they make their decisions based on evidence and best practices that have worked for other managers in the same situation. Evidence based management seeks to find ‘best practices’ with data-driven evidence to support solutions.
