A. Pure competition
Pure competition describes a market with a wide range of competing businesses all selling the same product, in this case milk.
Monopolies are a single company running the market, and oligopoly markets have a small number of players who together control the vast majority.
Answer:
The answer is:
1 - Underutilization
2 - Efficiency
3 - Unattainability
Explanation:
Efficiency in economics means a situation in which all resources are optimally distributed to serve each entity in the best way while minimizing waste and inefficiency.
Underutilization in economics is also a a situation in which lesser resources are being utilized than the economy is capable of utilizing.
Unattainability is a situation in which what one to accomplish or achieve is not possible.
1 - Underutilization
2 - Efficiency
3 - Unattainability
Answer:
200 units
Explanation:
For computing the number of units produced each time we need to applied the economic order quantity formula which is shown below:
where,
Annual demand is 1,600 units
Ordering cost per order is $25
And, the carrying cost or holding cost per unit per year is $2
Now placing these values to the above formula
So, the economic order quantity is
= 200 units
Answer:
B) An increase in the firm's economic profit.
Explanation:
An increment in the firm's economic gain. Primarily an economic gain or loss exists the contrast betwixt the taxation received from the sale of an output furthermore some expenses of total inputs managed moreover unspecified contingency expenses. In determining financial gain, contingency expenses and specific expenses stay subtracted from taxation received. Because cost equates minimal taxation, an unprecedented acceleration in a specific rate indicates marginal taxation increases. Essentially a conclusion, all firm actuates up its marginal price curve moreover enhances the amount it generates. If a specific firm had continued gaining zero economic gain before significant increment in demand, subsequent these raises the firm acquires an economic profit.
