Answer:
a. have performance attributes that are difficult to ascertain at the moment of purchase
Explanation:
In case of an experience good, it is difficult to make predictions regarding its price and quality.
The reputation of a seller and word of mouth are the important things that customers can use to make decisions regarding purchasing of the product.
Experience goods are those which have performance attributes that are difficult to ascertain at the moment of purchase
Answer: Into functional departments, with departmental managers who report to the CEO and small corporate staff
Explanation: In simple words, functional structure refers to the structure under which an organisation divides its work by making different departments for the core activities that are to be performed.
Under such structure, every department have employees working on a single activity they were assigned to like sales finance etc. Every department gets one manager who is liable to report to the CEO of the company.
Answer:
True
Explanation:
In Microeconomics, there is a correlation between offer and demand. If the market demand stays the same, in a competitive industry expanding its demand other suppliers will come into the game.
So, in the long run. Prices will end up to fall as a result, until it stabilizes on average.
The concentration ratio for Industry M is 52%.
The concentration ratio of industry M can be determined by adding the the ratio of the output to the total output of each of the six firms together.
- Ratio of firm 1's output to total output = 22,987 / 198,400 = 0.11586 = 11.59%
- Ratio of firm 2's output to total output = 21,444 / 198,400 = 0.1081 = 10.81%
- Ratio of firm 3's output to total output = 18,787 / 198,400 = 0.0947 = 9.47%
- Ratio of firm 4's output to total output = 16,454 / 198,400 = 0.0829 = 8.29%
- Ratio of firm 5's output to total output = 12,890 / 198,400 = 0.065 = 6.5%
- Ratio of firm 6's output to total output = 22,987 / 198,400 = 0.0506 = 5.06%
Sum of the percentages = 51.72%
Please find attached a table used to answer the question. A similar question was answered here: brainly.com/question/14903886
Answer:
e. There is a deadweight loss at the given production level.
Explanation:
A deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved.
