The fact that Kayla spends several hours each week developing specific employee work assignments and production schedules for the coming week suggests that a significant component of Kayla's job involves operational planning, where operational planning is the process that includes preparing plans <span>of an organization that clearly defines the actions that should be taken in order strategic goals to be achieved.</span>
Answer:
a.false; price increases will mean fewer sales, which may lower profits.
Explanation:
In a monopoly market structure, price is the amount customers are willing to pay for a product or service. All things remaining constant, a monopoly has to reduce its prices to increase its sales volume. A Monopoly is the single supplier of particular products and has are no close substitutes.
The Demand curve of a monopoly is the same as the industry's demand curve and is downward sloping. An increase in price will cause a decline in demand. Should the cost of inputs increase for a monopoly, its sales may decrease in it increases its prices. Fewer customers will afford the products of a monopoly at an increased price.
Answer:
cannibalization
Explanation:
Cannibalization of products refers to a situation where one product of the same company will "eat" (reduce) the sales of another product or products of the same company.
For example, Coke Zero cannibalized the sales of Diet Coke and regular Coke.
Answer:
The "diamond-water" paradox.
Explanation:
Adam Smith in his book <em>The wealth of nations</em> posted a question consisting the comparison between the price of diamond and water.
His idea was that why the price of diamond is so high as it has no importance in human life, and why the price of water is so low when it is highly significant for human life. One cannot die, if he doesn't have a diamond under his pillow although he will die if water is not given to him for days.
