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Yuliya22 [10]
3 years ago
11

What is one difference between a firm in a perfectly competitive industry and a firm in a monopolistically competitive industry?

Business
1 answer:
____ [38]3 years ago
5 0

Answer:

Letter b is correct.<em> A monopolistically competitive firm faces competition from firms producing close substitutes.</em>

Explanation:

<u>Monopolistic competition</u> is an economic situation that occurs when companies exhibit imperfect competition, that is, companies market similar but not identical products, which characterize them as substitute but not perfect substitute products.

Products may have different variables, such as quality, price and reputation in the market. The greater the degree of product differentiation, the more price control the company will have.

You might be interested in
Write the meaning of errors of omission with examples​
olchik [2.2K]

Answer:

not including something

Explanation:

errors of omission a mistake that consists of not doing something you should have done, or not including something such as an amount or fact that should be included

example

I sell you a house not telling you that the house is in a lake

3 0
4 years ago
Managers practice the art of getting things done using organizational resources such as: Multiple select question. information w
Zarrin [17]

The managers get things done by using organizational resources such as: such as:

  • equipment
  • workers
  • information

<h3>What is an art of getting things done?</h3>

These involves the act of directing, organizing, coordination and guiding the organizational processes to achieve organizational goals.

Therefore, the Option A, B, D is correct.

Read more about organizational resources

<em>brainly.com/question/15075305</em>

#SPJ1

4 0
2 years ago
List three things you can do to improve job satisfaction
andrew-mc [135]

1. Respectful treatment of all employees at all levels

2. Trust between employees and senior management

3. Job security

Hope that helps :)

7 0
4 years ago
Read 2 more answers
Utica Company has offered to supply Kingston's entire annual requirements of the part for $53 each. If Kingston buys the part fr
miss Akunina [59]

Answer:

$480,000

Explanation:

Calculation to determine what total relevant costs to make the part internally are

First step is to calculate Relevant cost per unit:

Relevant cost per unit:

Direct materials $6

Direct labor $24

Variable manufacturing overhead $12

Fixed manufacturing overhead ($15 × 0.40) $6

Relevant manufacturing cost $48

Now let determine the Total relevant costs to make the part internally

Total relevant costs to take the part internally=($48 × 10,000)

Total relevant costs to make the part internally = $480,000

Therefore total relevant costs to make the part internally are $480,000

5 0
3 years ago
For policymakers the problem with a recessionary gap is _____ and the problem with an expansionary gap is _____.
Verizon [17]

Answer:

The correct answer is option B.

Explanation:

A recessionary gap implies that the resources are not being fully utilized. This means resources are being wasted.  

An expansionary gap, on the other hand, means that the economy is producing at more than potential level. The price level at this point is high. There is a tendency for inflation to develop in this situation.  

To curb the recessionary gap the economy can adopt the expansionary fiscal and monetary policy. While to curb expansionary gap, contractionary monetary and fiscal policy can be adopted.

4 0
4 years ago
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