Answer:
The correct answer is B
Explanation:
Economic profit is the difference among the revenue received from the sale of the output and the cost of all inputs used and opportunity cost.
Zero economic profit, it is the situation where the firm is earning the same if its resources were employed in the next alternative which is best.
When the entry barriers in the market are low, then the firm will have the tendency of having a zero economic profit in the period of long run, as the profit which is short run will attract the extra suppliers which will result in down in the market price of the product.
Answer: a. the benefits of adopting the new technology outweigh the costs of switching.
Explanation: Switching costs are defined as those cost the consumer pays as the result of changing brands or products, but can also be manifested in the form of time and effort spent during the switching process, the risk of disruption of business operations during the period of switching etc. and so therefore, switching costs can be monetary, psychological, effort-based, or time-based.
Companies with difficult-to-master products and low competition often times will use high switching costs to maximize profit by typically employing strategies that incur high switching costs on the consumer. Therefore, consumers will bear the costs of switching if the benefits of adopting the new technology outweigh the costs of switching.
Answer:
The correct answer is B
Explanation:
When the company want that their employees, need to have the knowledge and develop their knowledge as well, they need to arrange or conduct the program of the training as well as programs of the recruiting.
As the CEO, realizes and states that the firm or the business survival grounded on the acquiring as well as the developing the knowledge. So, in order to follow what the CEO said, one must go through the proper training as well as the programs of the recruiting.
Answer:
The steps that contries must take to transition to a mixed-market economy is by first establishing a fair labor market, discouraging all foreign investment and opening up trade to other countries.
