Answer: both productive and allocative efficiency.
Explanation:
A purely competitive market, is a market where there are large numbers of firms which produces standardized product. The prices of the goods in the market are determined by the consumer demand and no supplier can influence the market price.
After long-run adjustments, a purely competitive market achieves both productive and allocative efficiency. This is due to the fact that the average variable cost will be minimized and thenoruce that's charged will be equal to the marginal cost.
To be responsive to local pressures, companies must option c. <u>differentiate</u> their offerings and strategies from country to country to reflect local consumer.
<h3>What is Local responsiveness to pressure?</h3>
The degree to which a corporation needs modify its goods and operating procedures to accommodate local requirements is known as local responsiveness. Four fundamental worldwide business strategies are produced by the two dimensions: export, standardization, multi domestic, and transnational.
In other words, local responsiveness refers to how much a company must alter its operations and/or products in order to accommodate those in different nations.
Hence a firm may not be able to fully benefit from location economies and experience curve because of pressures for local responsiveness. While there are advantages to such personalization, it also hinders a company's potential to realize large experience curve and geographic economies.
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Answer:
b
Explanation:
being agreeable is positive trait, the others are not
<span>Arbitrage causes an equalization of the
rate of return of assets when assets are identical or nearly identical.
</span>
We can define arbitrage as it is the activity that generates
dependable profits by means of selling one asset and buying the same or nearly
same asset to advantage from temporary differences in fees or costs of return;
the exercise that equalizes expenses or returns on comparable financial gadgets
and hence removes further opportunities for without any risk economic advantage.
