Answer:
Technical profession is a highly skill based profession in which a practical knowledge is required.Example:engineering in civil,mechanical,computer e.t.c.
I believe the answer is FFA.
Hope this helps.
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Answer: The newly created firms is able to take advantage of economies of scale.
Explanation:
A merger is an agreement whereby two companies come together and pool their resources together in order to form one company and achieve same organizational goals.
One main reason why companies merge together is in order to achieve economies of scale. This is the reduction in cost as a result of the expansion and increase in production level.
Pure monopoly and pure competition are the opposing limiting cases. Monopolistic competition exists between those two.
Monopolistic competition is distinguished by the fact that, despite being closely related to one another, the products of various firms are not all the same but rather differ from one another. As numerous businesses compete to sell their products, there is also a component of competition.
Price=Average Total Cost Total Revenue is equal to total cost so there
is zero economic profit.
Price>ATC It means that firm is earning short run
economic profit.
Price<ATC It means firm is earning Short Run Economic
Loss
Price> Marginal Revenue It means firm has market power
Price>Marginal Cost Mark up
Learn more about Monopolistic competition, here
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