Answer:
decline and product diversity in the market increases.
Explanation:
Competitive price searcher markets are those that have little barriers of entry for new firms.
Also the new forms are able to engage in transactions that are profitable. That is they easily take a market share.
In this scenario it will result in greater diversity of products as many firms can now produce goods that will be profitable in the market.
Also it will lead to a decrease in profit of existing firms as the new firm gets some of the market share
Answer:
The answer is below
Explanation:
Both General ethics and Applied Ethics are part of philosophical knowledge in understanding humans and their society.
Hence, the difference between general and applied ethics is:
General ethics is a philosophical term that is used to describe the theory of values in human activities. It deals with answering the controversial questions of human morality by establishing the idea of good and evil, right and wrong.
On the other hand, Applied Ethics is a term used in philosophy to describe a branch of ethics that is established to answer the issue of moral dilemmas, strategies, and operations in individuals' life, organizations, technology, and state.
Answer:
b. products that have identical attributes, such as frozen yogurt.
Explanation:
A monopoly is formed when a firm or a group of firms have a an unfair advantage in supplying a product and faces no competition while operating.
It is important to identify the market where the monopolist exists.
In the given scenario where Dairy Cream wants to merge with EZ Freeze Inc., its main competitor and a maker of ice cream and other frozen desserts. The merger will eliminate competition and the product market is defined under ice cream and products that have identical attributes, such as frozen yogurt.
