The efficiency of the worker and the level of skill required differ between occupations
Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
Micro environment
Explanation:
The institution's micro-environment comprises of those components that are manageable. Generally the micro-environment doesn't really impact all businesses in a sector in same manner, as the scale, efficiency, competence and approaches are different.
For instance, the suppliers of raw materials are giving big corporations more compromises. We might not offer small businesses the same concessions though. Thus, from the above we can conclude that the correct answer is micro-environment.
B. an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in a specific product market.
Answer:
What are the pricing strategies followed by competitor firms in Asia?
Explanation:
In simple words, any corporate entity willing to expand its business to a new market should first evaluate the existing business players. By doing so, the subject entity can get a significant level of understanding of the threats and opportunities available in the market.
Thus, ABC managers should first evaluate the strategies used by the existing participants of the market as after that they can make their plan to how attract other's customers towards ABC.
