Answer:
The answer is: Develop the research plan.
Explanation:
Once you have defined the problem, the next step is to develop a research plan. In this stage you define what information you really need to collect and how you will do it.
The most common research techniques used are:
- Interview current and potential customers.
- Conduct a survey.
- Research online.
It is very important to know exactly what you are looking for, because useless information will hurt and slow down your research.
Answer:
The long-run average total cost will be $11.
Explanation:
A monopolistic firm earns a normal profit in the long run. Equilibrium is achieved at the point where the marginal revenue curve is intersected by the marginal cost curve. The equilibrium output level is determined by this intersection.
The price is fixed higher than the marginal cost, the price is equal to the average total cost. This is because if the price is higher the existing firms will be having profits. This will attract potential firms in the market. The entry of new firms will lead to an increase in supply. As a result, the price will decline. This process will continue until the price level becomes equal to the average total cost and all profits are exhausted.
So, here if the price of the product is $11 and the firm is enjoying normal profits, the average total cost will also be $11.
Answer: (C) Work process
Explanation:
The work process is one of the type of standard procedure that helps in understanding and also handle the overall performance of the work in an organization.
It is also known as the wok in process as it defining the specific requirement of the tools and the main role and responsibility in an organization.
According to the given question, the work process helps in dividing the responsibility of each job in an organization. Therefore, the work process is one of the example of the grouping employees.
