Answer:
D. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive.
Explanation:
Monopolistic competition may be seen as a variety of competition that determine the characteristics of variety of industries that are familiar to consumers in their day-to-day lives. For instance, restaurants, hair salons, clothing, and consumer electronics are all monopolistic competitive market but not all imperfectly competitive markets are monopolistically competitive.
Answer: contingent
Explanation: It refers to the employment in which the job of an individual is not fixed with the company. In case of contingent employment, the employees are usually hired when there is a specific project to complete that needs extra work force.
Unlike seasonal employment the these employments are non recurring and there is no time fixed for employment that an individual could expect.
Thus, from the above we can conclude that the given case is an example of contingent employment.
Answer:
Option 1 is correct.
Explanation:
Law of supply indicates that there is a positive relationship between the price of a commodity and the quantity supplied of that commodity. This means that an increase in the price of a commodity then as a result there is an increase in the quantity supplied of that commodity because it will become more profitable for the producers to produce more and supply more.
Answer:
Total fixed cost = $1035
Rugs sells = 18
Total costs = $1179
Revenue = $558
Total variable cost = Total costs - Total fixed cost
= $1179 - $1035
= $144 for 18 rugs
= $8 per rug
Where,
x represents number of rugs
C(x) = $1035 + 8x ⇒ Cost function
Revenue for 18 rugs = $558
= $31 per rug
R(x) = 31x ⇒ Revenue Function
Profit = revenue - cost
P(x) = 31x - (1035 + 8x)
= 31x - 1035 - 8x
= 23x - 1035 ⇒ Profit Function
