Are you looking for a true or false answer?
The correct answer is A.
A company that seeks profit maximization in a competitive market needs to fulfill the following condition:
<em>price = marginal cost </em>
- The marginal cost refers to the cost endured when producing one extra unit
- In a competitive market firms are price takers, hence the price equals the average revenue and the marginal revenue as well.
- When deciding the amount to be produced, firms need to use the equality : marginal revenue = marginal cost, which in a competitive environment is translated into: price = marginal cost
In the present example, the firm could only add an extra worker if the increased marginal cost (13) was not exceeding the price (12). As this increase in fact occurs, it is better that the company stays with nine employees.
Answer:
Statement is true.
Explanation:
In simple words Pluralism is defined as the system or condition under which two or more groups, principles, states, etc., coexist. Under the concept there exist a doctrine of multiplicity and there is no dominant set of organization present which directs the policy making processes.
Given statement is correct because it is this concept of Pluralism which provide an individual or interest group an effective way to participate in the political system and allowing theirs view and ideas to be heard in an organised manner. According to pluralist, negotiation and discussion among these interest groups further provide a balance of power which also protects an individual from inclining towards any specific ideology or view point and helps them to remain neutral.
Hope this will help.
<u>Answer:</u>
The procedures having relevance with the Common Rule ensuring the protection of the subjects, inclusive of a review given by an independent committee as reliable as an IRB must be described in an agreement called an ‘Assurance of Compliance’ with a US federal agency.
<u>Explanation:</u>
- A certain set of guidelines has been put up to ensure the uniformity of procedures implemented to carry out the functioning of various agencies working under the US federal agencies.
- These procedures have to comply with the common rule and ensure that the people and the environment are protected during the functioning of the agency.
