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Kryger [21]
3 years ago
7

Assume that the market is originally in equilibrium. Now suppose that this product gains a sudden popularity among consumers. Ho

w will this sudden popularity affect the profit of an individual firm in this market in the short run?
Business
1 answer:
zubka84 [21]3 years ago
6 0

Answer:

The profit of an individual firm increases from zero to a positive value.

Explanation:

The market demand will increase (shift right) as a result of the product's newfound popularity. The market price will increase in the short run, and as a result, the firm’s economic profit will rise from 0 to a positive value in the short run.

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Answer:

B. Flattened management hierarchies.

Explanation:

In this scenario, the line workers at a Virginia steel mill developed a new process that made the line safer. The process went through only one level of management before it was approved by the vice president of operations. Hence, this is an example of a flattened management hierarchies.

A flattened management hierarchy can be defined as an organizational structure which eliminates a middle manager and allows the employees to be involved directly with the decision-making process.

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when comparing a retail business to a service business, the financial statement that changes the most is the
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Vesna [10]

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