Answer:
P = 70, Ed = ∞ , Firm = Price Taker , Free Entry & Exit
Homogeneous Product , No selling costs , Long Run Normal Profits
Explanation:
Perfect Competition is a market form with : many number of buyers & sellers, selling homogeneous goods at uniform prices, while firms & consumers having perfect information & no selling costs.
In this market : Price = Marginal Cost , as taken by all firms from the industry & so demand curve is horizontal parallel to x axis - denoting perfectly elastic demand i.e infinite sale at prevailing price.
As market's all sellers goods are homogeneous & all have perfect information about it, no selling costs are required. Free Entry & Exit in industry also imply that Industry's profits are confined to 'Normal Profits' (No Supernormal profit / abnormal loss) in long run.
So, Smith's report would include all the above mentioned remarks.
Answer:
0.7589
Explanation:
P(34000<=x<=38000)
P(34000-50000 / 12000) <= z <= 38000-50000 / 12000)
P( -16000/12000) <= z <= -12000/12000)
P(z<=-1.33)- p( z<=-1.00)
=0.9176 - 0.1587 (using standard normal table)
=0.7589
Answer:
The correct answer is d. innovation.
Explanation:
The innovation strategy implies that Info Tech creates a department that is specifically dedicated to the development of new products in terms of quality, efficiency, price and utility. The cell phone industry usually has very constant changes, and not having this type of professionals can cause that in terms of sales the behavior is not as expected. People are driven by innovative ideas, and putting it into practice largely ensures sustained growth in the market and as a result increased sales against the competition.
Answer:
Terminates
Explanation:
The tenancy agreement binding the joint tenancy becomes void so it is terminated Because it has been bridged.