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natulia [17]
3 years ago
12

The given statements are about monopolistic competition. Indicate whether each statement is true or false. A monopolistically co

mpetitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location. Product differentiation enables a monopolistically competitive firm to have some control over the price of its product. In the long run, each monopolistically competitive firm produces a level of output that results in allocative efficiency. In the long run, each monopolistically competitive firm produces a level of output that results in productive efficiency. To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. Compared with purely competitive markets, under monopolistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.
Business
1 answer:
Nuetrik [128]3 years ago
3 0

Answer:

1. A monopolistically competitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location.- True

2.Product differentiation enables a monopolistically competitive firm to have some control over the price of its product- True

3.In the long run each monopolistically competitive firm produces a level of output that results in allocative efficiency.- False

4. In the long run each monopolistically competitive firm produces a level of output that results in productive efficiency- False

5.To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. -True

6. Compared with purely competitive markets, under monoplistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. -True

7.In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.True

Explanation:

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Morgarella [4.7K]

Answer: Yes training is the solution, training is the effort made by the organization in order to provide their workers with the basic skills needed to ensure the efficiency of the work done in the organization. b.To improve productivity, to solve operational problems, to reduce wastage of materials, to boost employees morale. C. Identify training need, define programme objective, design training programme, implement training programme, monitor feedback during couse

Explanation:

a.

Training can be defined as the effort made by the organization in order to provide their workers with the basic skills needed to ensure the efficiency of the work done in the organization. The main objective of training is to achieve a change in behaviour of those workers trained. Training help the workers to acquire technical knowledge and the problems solving skills in which they can utilized on the job in order to achieve the organizational goals and objectives.

b. The need for training includes the following

1. To improve productivity on the part of both the employees and the organization

2.Training helps in solving operational problems such as reduction in the accident in the workplace, Labour turnover, absenteeism, and grievances rate in the workplace.

3. Training help the organization in reducing the wastage of materials used in the production of goods as well as to ensure better utilization of machines used in production of goods.

4. Training helps in boosting the morale of the workers in the organization, in the sense that as the workers acquired new skills it will make them a better workers which increase their market value and enhanced their earnings power which in the long run lead to job security and self actualization for the workers.

5. Training helps in filling the vacancy for specific manpower need which is crucial to the organization survival but which is very difficult to fill through the external recruitment process

6.Training helps in formation of new altitudes for the workers which will help the workers to contribute their quota towards the achievements of the organizational goals and objectives.

c. The summary of the need assessment include the following

1 . Identify the training needs

2. Define the programme objective

3. Design training programme

4.implement training programme

5. Monitor feedback during the course of training

6. Place training participants back on their jobs

7. Conduct post course evaluation to determined the benefits of the training programme.

7 0
3 years ago
A coupon bond that pays interest of 4% annually has a par value of $1,000, matures in 5 years, and is selling today at $785. The
olganol [36]

Answer:

9.62%.

Explanation:

Set the values of the bond on the financial calculator as follows :

PV = - $785

FV = $1,000

PMT = $1,000 x 4% = $40

P/YR = 1

N = 5

I/YR = ??

Here the question requires us to determine the value of the yield to maturity or I/YR.

Inputting the values as above in the financial calculator gives the I/YR as 9.62%.

3 0
3 years ago
Geoffrey is waiting for raw materials to be delivered to his company. He had asked the suppliers to deliver the materials by 8:0
almond37 [142]

Answer:

Government policies specific to the entrepreneurs business is the answer. This is the only external factor.

Explanation:

5 0
3 years ago
Read 2 more answers
If profits are negative in a monopolistically competitive market, then: the industry will stop production. new firms will enter
Genrish500 [490]

Profits are negative in a monopolistically competitive market, the new firms will enter the market until economic profits are zero.

<h3>What is competitive market?</h3>

Competitive market is a market that involves many sellers and producer that are competing with one another.

They compete to provide goods and services

Therefore, profits are negative in a monopolistically competitive market new firms will enter the market until economic profits are zero.

Learn more on competitive market here,

brainly.com/question/25717627

7 0
3 years ago
On October 1, 2018, Hill Company borrows $20,000 from a local bank. The note has an interest rate of 6% and is due in one year.
Alex Ar [27]

Answer:

Amount of interest = $ 300

Explanation:

Given:

Total number of month = 3 months (Oct, Nov and Dec)

Amount borrow = $20,000

Interest rate = 6%

Find:

Amount of interest

Computation:

Amount of interest = $20,000 x 6% x 3 months / 12 months

Amount of interest = $ 300

8 0
3 years ago
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