Market structure is defined with characteristics of the market and there are four different market structures: perfect competition, oligopoly, monopoly and contestable market.
<span>Perfect competition is a market structure in which there is a large number of small firms who produce identical goods otherwise known as homogenous goods and it has a lot of buyers. The competition between these firms is huge, because they are many firms and each of them wants to attract more buyers.</span>
Oligopoly is a market structure in which there is a small amount of large firms, for example the supermarket industry. There are not so many buyers as in the perfect competition, but buyers can still choose from which supermarket, for example, they will buy. So there is a competition between the firms.
Answer:
c) by setting MR(q)=MC(q) at a q for which p(q) is at least AVC(q)
Explanation:
Profit is maximised at MR= MC and price is greater than MC for monopoly.
<span>Managing a relationship closely usually involves more time and communications. You might meet with the stakeholder more often or communicate in other ways. There are many ways to work with unique personalities. Some people need a lot of attention and small talk, while others prefer a more direct approach, for example.</span>
Answer:
Current liabilities: Accounts payable$130,000
Sales tax payable 8,800
Warranty Payable 4,000
Interest payable 667
Notes payable 50,000
Total current liabilities$193,467
Explanation:
<u>Answer</u>: Certain brand names, such as Kleenex or Xerox, have become generic name.
<u>Explanation:</u>
Generic name is the term used to refer a product with its brand name rather than the product itself. Kleenex and Xerox are the brand names of the products. Xerox is photocopying product and Kleenex is the brand name for wet wipes. People commonly use the word Kleenex instead of tissues or wet wipes.
This process can be called as genericization and companies loose their trademarks due to these usage of names. These generic names have wide spread popularity.
