In the Gilded age, monopolies affected the small businesses as the monopolies forced small businesses to shut down. A monopoly arises when a single corporation dominates the market for a given product or service.
Monopolies frequently result in the closure of the smaller businesses. One business can regulate the product prices when it controls a particular market. Due to their size, most the monopolizing businesses can afford to reduce their prices so much that no small business can compete. Because of this, the smaller companies are left with no alternative except to shut down or combine with the monopolizing firm.
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The critical ways that firms can obtain a sustainable competitive advantage are/is called the barriers to entry for that industry.
<h3>What is competitive advantage?</h3>
Competitive advantages refers to those economic variables, which place a company above its competitors whereas it is produces similar goods at a cheaper rate, compared to its rival.
It is the ability of a company to produce goods more efficiently than its competitors, which leads to greater profit margins.
Examples of competitive advantage are:
- Access to natural resources that are restricted from competitors.
- Highly skilled labor.
- Unique geographic location.
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Answer:
Full body = $132
For trouble spots = $180
Explanation:
The computation of contribution margin per hour is shown below:-
For Full body
Contribution per service = $198
Massage time required in minutes = $90
Massage time required (90 min ÷ 60 min) = $1.5
Contribution per hour = $198 × $1.5
= $132
For Trouble spots
Contribution per service = $90
Massage time required in minutes = $30
Massage time required (30 min ÷ 60 min) = $0.5
Contribution per hour = $90 × $0.5
= $180
Answer:
b shift both sras and lras
Explanation:
factor of production are the resourced that are the building blocks of the economy they are four in number labor ,land, capital,entrepreneurship these factors influence the growth of production.
the sras or short run aggregate supply curve it represents a short-run relationship between price level and output supplied.higher level of productivity will curve sras level to right.
lras a curve that shows the relationship between price level and real GDP that would be supplied if all prices, including nominal wages, were fully flexible;this curve also shipts to right.
conclusion: the factor of production influences both curve short run aggregate supply curve and long run aggregate supply .
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