Answer:
The answer is below
Explanation:
Considering the available options, here are the attributes that characterize a competitive market, and a monopolistically competitive market.
A competitive market is characterized by Identical products and Price = MR, while Monopolistic competition is characterized by product differentiation and few sellers.
Hence, it can be written as:
Competitive markets
Product differentiation. No
Identical products Yes
Price=MR Yes
Few sellers No
Monopolistic competition
Product differentiation. Yes
Identical products No
Price=MR No
Few sellers Yes
Create a limit on the maximum no. of bottles the firm can make,
The required details about externality is mentioned in below paragraph.
<h3>How Do Externalities Work?</h3>
An externality is a cost or benefit a producer generates but does not personally bear or receive. An externality can result from the creation or consumption of a good or service and can be both positive and negative.
Externalities happen when creating or consuming a good has an effect on parties who are not involved in the transaction directly. Externalities can be either good or bad. They can result from either production or consumption as well. For instance, simply entering a city center will increase the pollution and traffic for individuals who live there.
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Answer: a) 1
b) yes marginal rate of substitution is less than the relative price
c) 2.00
Explanation:
a) Raul’s marginal rate of substitution is 1 because he is only willing to trade 1 cal card for 1 additional Nolan card
b) Raul’s marginal rate of substitution is Mc/Mn = 1 However, the relative price of a Cal Ripken card is Pc/Pn = $24/$12 = 2.00. Since the marginal rate of substitution is less than the relative price, Raul can make himself better off by selling 1 Cal card and buying Nolan cards.
c) His marginal rate of substitution must be equal to the relative price; the relative price rule holds that says that Mc/Mn = Pc/Pn. From b above we know that the relative price is 2.00, Raul's marginal rate of substitution must also be 2.00.
To address intangibility, a marketer needs to use tangible cues in their marketing to make the customer see the benefit of the service being offered.
Marketers could also use testimonials to vouch for the quality of the service being sold.
Cognitive job satisfaction measures how satisfied employees are with certain aspects of their work, such as: B. Wages, Working Hours, or Social Security.
Job satisfaction is defined as an employee's satisfaction with their job. This goes beyond day-to-day operations and covers satisfaction with team her members/managers, satisfaction with company policies, and the impact their work has on employees' personal lives.
There are two levels of job satisfaction: effective job satisfaction and cognitive job satisfaction. Effective job satisfaction refers to an individual's overall emotional response to work. Cognitive job satisfaction measures how satisfied a person is with their job.
Job satisfaction measures how satisfied, comfortable, or content a person is with their job. It is the pleasant or positive emotional state that results from evaluating one's work and work experience.
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