If the market has small firms selling products that are slightly different from one another this is called: monopolistic competition.
<h3>What is monopolistic competition?</h3>
Monopolistic competition can be defined as a form of competitive market which has different manufacturers selling products or goods and service that are not similar or that are a little bit different from each other.
In this type of market many producers can sell their products reason being that their is no any form of limitation or barriers to entry the market.
Inconclusion if the market that has no barriers to entry and many small firms selling products this is called:monopolistic competition.
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When microwave ovens were in the introduction stage of its product life cycle, some consumers were willing to pay exorbitant prices for these innovative ovens. Taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price, and customers with a very strong desire for the product were willing to pay. Marketers of microwave ovens used a <u>a. skimming</u> pricing strategy.
<h3>What does a skimming pricing strategy consist of?</h3>
Skimming is a pricing strategy that establishes a high initial price in the launch of a new product. The purpose is to increase the perception of the brand, create a competitive advantage, and generate sales revenue that allows for covering the initial expenses more quickly. The price decrease when the product enters the maturity and decline phase.
This strategy is used in the technology and innovation sectors because consumers are more interested in investing in the latest technology products.
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Answer:
The bond equivalent YTM = 8.36%
Effective annual YTM = 8.53%
Explanation:
The following image states the explanation:
Answer:
b) contemporary
Explanation:
Contemporary management perspective or leadership includes some characteristics as:
"A managerial leadership style that entail inviting input from every individual before making any major decision.
Participative leadership style tends to incorporate a democratic perspective in modern management, which has initially been centralize
This leadership style is based on the ability of a leader to match to the prevailing circumstances.
Major decisions are dependent (contingent) upon the inherent internal and external situation of a company or society."
Reference: GumEssays. “Contemporary Leadership.” Premium Level Assignment Help on GumEssays.com, 2019,