Answer:
a. is often not in the best interest of society.
Explanation:
A monopoly is when there is a single firm operating in an industry. This is usually so because of high barriers to entry of other firms.
Because a monopoly has only one firm in the industry, the firm sets prices to maximise profit. The firm earns economic profit in the short and long run.
The monopoly benefits the producer more than consumers. It is often inefficient and fails to maximise total welfare .
Because of these inefficiencies, government usually steps in to regulate the activities of a monopoly.
I hope my answer helps you.
Answer:
Promotion.
Explanation:
The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. Promotion is also one of the elements in the promotional mix or promotional plan.
Answer:
1. Pam's production strategy should be:
C). She should have one centrally located facility to achieve economies of scale.
2. Her employees should have this attitude toward risk:
B). Risk averse
3. Her compensation system should have the following attributes:
A). High pay differentials between superiors and subordinates
4. Pam should emphasize rewards for employees who come up with ideas for __________.
B). cutting costs
Explanation:
Since "Pam had already identified cost leadership strategy as her preferred strategy, her efforts should be focused on achieving this cost leadership by ensuring that her organization comes up with cost reduction ideas. Instead of having many decentralized facilities, she should have a centrally located facility. This will ensure economies of large scale production which results in reduced cost. Finally, her employees cannot afford to be risk takers. They should be risk averse in order to save costs.
Answer:
$18.00
Explanation:
Overhead rate = Estimated Overheads ÷ Estimated Activity
= $900,000 ÷ 50,000
= $18.00
Therefore,
Overhead rate per direct labor hour is $18.00
