The most significant difference between perfect competition and monopolistic competition is that

1 answer:

7 0

Perfect competition, a market structure, where there are many sellers selling similar goods to the buyers. But monopolistic competition, is a market structure, where there are numerous sellers, selling close substitute goods to the buyers. Also the price in perfect competition, is determined by demand and supply forces, for the whole industry, comparing with monopolisti competition that every firm offer products to customers at its own price.

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Hyatt Hotels has installed automated check-in machines at some of its hotels. To check in and get a room key, guests insert a cr

kodGreya [7K]

Answer:

Productive resource

Explanation:

Productive resources are the resources used to produce the products and services that people need. There are 3 types of productive resources:

human: human resources are strength, education and skills
natural: given to us by nature, e.g. water, minerals, land, etc
capital: goods needed to produce other goods or services. The automated check-in machine is a capital resource.

Human resources are the strength, education, and skills of people. Natural resources are the gifts of nature that are used to produce goods and services. Water, land, and minerals are examples of natural resources. Capital resources are the goods needed to produce or provide access to other goods and to supply services. Examples include buildings, equipment, tools, machinery, ports and other manufactured and constructed things.

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3 years ago

When supplies are limited , prices tend to

denis23 [38]

Answer: When Supplies Are Limited Prices Tend To Increase

Explanation: Is Supplies Are Endless, prices tend to decrease! This is because there is an infinite amount of a good and everyone can get it. There will likely be left over supplies and the demand is not high so prices will go down.

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4 years ago

Read 2 more answers

Congress would like to increase tax revenues by 11.5 percent. assume that the average taxpayer in the united states earns $62,00

cricket20 [7]

An increase of 11.5 percent is the same as multiplying by 1.115. Since the current rate is 10 percent, an 11.5 percent increase would be:
10 percent x 1.115 = 11.15 percent.

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4 years ago

According to anthropological ethics, the first responsibility of the anthropologist is to the people studied.

Len [333]

The answer is true. The anthropologists have main ethical obligations to the people, species, and materials they research and to the people with whom they work. These duties can exchange the goal of seeking new knowledge, and can lead to decisions not to start or to stop a research project when the primary obligation conflicts with other responsibilities, such as those unsettled to sponsors or clients.

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3 years ago

Dulce Company produces chocolate. Each pound of chocolate requires 400 cocoa beans (the unit quantity standard) and 0.15 labor h

Nostrana [21]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Each pound of chocolate requires 400 cocoa beans and 0.15 labor hours.

During the year, 480,000 pounds of chocolate was produced.

First, we need to calculate the number of cocoa beans required to produce 480,000 units.

Number cocoa beans= 480,000*400= 192,000,000 cocoa beans.

Now, the hours of labor required.

Direct labor allowed= 480,000*0.15= 72,000 hours

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3 years ago