Pure monopoly and pure competition are the opposing limiting cases. Monopolistic competition exists between those two.
Monopolistic competition is distinguished by the fact that, despite being closely related to one another, the products of various firms are not all the same but rather differ from one another. As numerous businesses compete to sell their products, there is also a component of competition.
Price=Average Total Cost Total Revenue is equal to total cost so there
is zero economic profit.
Price>ATC It means that firm is earning short run
economic profit.
Price<ATC It means firm is earning Short Run Economic
Loss
Price> Marginal Revenue It means firm has market power
Price>Marginal Cost Mark up
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Answer:
d. 3.85 trillion
Explanation:
Step 1: Given data
GDP = GDP grew by = 4% = 0.04
R = inflation rate was = 2.5% = 0.025
D = government budget deficit was = $250 billion
Step 2: Formula
X = debt at the start of last year
X = D / (GDP + R)
Step 3: Computation
X = 250 billion / (0.04 + 0.025)
X = 250,000,000,000 / 0.065
X = 3,846,153,846,153.85
Step 4: Convert to trillion
X = 3,846,153,846,153.85 / 1,000,000,000,000
X = 3.85 trillion
The correct option is d. 3.85 trillion
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The answer is B: False The Federal's Reserve goal is t<span>o provide the nation with a safer, more flexible, and more stable monetary and financial </span>system<span>.</span>
Answer:
Number of meals = 100
Explanation:
The amount that the restaurant plan to spend on ads = $1000
The average selling price of meal = $10
The cost of food is = 30%
At breakeven, the total revenue is equal to total cost.
Total cost of advertsing = total revenue
So, the number of meals = $1000 / 10 = 100
Answer:
Quality.
Explanation:
Garvin´s definitions of quality based on the perspective of the viewer (perception is reality):
-Transcendent. quality is intuitively understood but nearly impossible to communicate.
-Product based. quality is found in the components and attributes of a product.
-User based. if the costumer is satisfied, the product has good quality.
-Manufacturing based. if the products conforms to desing specifications, it has good quality.
-Value based. if the product is perceived as providing good value for price, it has a good quality.
Garvin´s dimensions of product quality are:
Performance, features, reliability, conformance, durability, serviceability, aesthetics, and perceived quality.
These different dimensions of quality are not mutually exclusive.