Answer:
see below
Explanation:
1. In a monopoly, one firm dominates a large market. Only one seller is serving a large number of buyers. In a perfectly competitive market structure, many sellers are competing to sell to many buyers.
2. A monopoly has no competition for its products. There are no close substitutes, which leaves customers with no other option but to buy from the monopoly. In perfect competition, sellers sell identical products. There is stiff competition for the product being sold.
3. In a monopoly, there are strong barriers to entry and exit from the market. In a perfectly competitive market, restrictions on entry or exit are absent.
4. The price for a monopoly is always set above the average cost, while in perfect competition, the price set is equal to the marginal cost.
5. A monopoly has full control over its price and can offer different prices to different groups of customers. In a perfects competition, the firms cannot practice price discrimination because they have no control over prices.
Answer:
C(100) = (75 x 100) + (200 x 100) = $27,500
Explanation:
the initial cost function of producing bikes is:
C(x) = 75F + 100W
the initial cost to produce 1 bike = $75 + $100 = $175
if the cost of wheels increase to $100 each, then the cost function is:
C(x) = 75F + 200W
in this case, there is not much to calculate since every bicycle must have 1 frame and 2 wheels, that means that in order to produce 100 bicycles you will necessarily need 100 frames and 200 wheels. Labor is not considered in this cost function, so any cost minimization strategy is limited to using the minimum amount of parts:
C(100) = (75 x 100) + (200 x 100) = $27,500
Answer:
When Economists say that humans make decisions at the margin they mean that decisions are made on the basis of the cost and benefit of getting an additional unit of a good/ service.
Marginal benefit refers to the additional utility that we will derive from consuming one extra unit of a good or service and factors in heavily into our decision making. We usually accept a decision if the Marginal benefit is higher or equal to the Marginal cost ( cost of the additional unit) of the good/service.
If the Marginal Cost is instead higher, the decision would most probably be cancelled.
Answer:
maturity
Explanation:
Based on the information provided within the question it can be said that in this scenario the Tide Detergent "pods" product is in the maturity stage of the product life cycle. This stage is characterized by being the longest stage in the cycle and in which sales begin to decline because the product has reached the apex of the demand curve. Advertisement in this stage has little effect on sales for the product and instead the best option would be to make changes to the product in order to lower costs and thus increase more profits, which is what they have done by making the product easier and more affordable to transport
Answer:
The correct answer is Resources of the company equal creditors' and owners' claims to those resources.
Explanation:
It can be used to determine that the income or income of the consumer is exactly equal to the expense (purchase) of goods, for the determined period of consumption. In other words, by adding the value spent on the acquisition of goods "x" and goods "y". To have such values it is enough to multiply the number of possible units to acquire - in each of the points - by their respective price and then add them; This can be done at any point in the price line.
