Answer:
d) competitors are similar to monopolists.
Explanation:
Monopolistic competition refers to a condition of the market in which it connects with various irms that are closely linked to each other but sell distinct products.
Also, there is free entry and exit in this market
In case when consumer taste and preferences are different so the monopolistic competitors are the same as the monopolist
hence, the correct option is d.
An example of event that will be contributing to the
disruptive of global supply chains is having to experience major typhoons, as
this will affect the network that is created by companies in having to provide
and distribute goods and having typhoons will disrupt this chain or process.
15.9% is its stock out probability if Store A’s order quantity is 800 units
Solution:
z-score =
= (800-500)/300 = 1
So , in-stock probability = NORM.S.DIST(1,TRUE) = 0.841345
Hence stock-out probability = 1 - 0.841345
= 0.158655
= 15.9% (Approximately)
Answer:
no, since other things are not held constant, including her income
Explanation:
The law of demand states that price has an inverse relationship with quantity demanded of a good. As price increases the demand reduces, and as price decreases quantity demanded increases.
However this is true when all other factors reman constant.
In the given scenario the price of hamburger has fallen but Hilary buys less of it. This looks like a violation of the law of demand, but her income has changed so the law of demand may not hold here.
All factors do not remain constant.
Hilary's behaviour can be explained by the concept income effect. Where an increase in income leads to the consumer buying more of expensive goods than cheaper ones.
Answer:
Stay informed about products that you buy to be aware of product recalls.
Gather information about products and services before making a purchase to be aware of price, quality, and the product specifications.
Read instructions on products and use them as intended.
Take action and report faulty products, fraudulent activity, and any other violation of consumer rights.
Consider the impact of your purchases on others and choose products that do not harm the environment.
Insist on compensation if you are not satisfied with your purchase.