Answer:
Investment in hospitals and other health care facilities to modernize their operations.
Explanation:
The correct answer is letter B. Providing a delivery service. Making an increase in possession is ensuring that you have the refrigerator or whatever product that you are getting. The ability to feel the tangible touch of a product gives you the possession.
The appropriate response is perishable. Administrations are perishable in that they can't be put away for use later on. You can't stockpile your participation at Gold's Gym like you could a six-pack of V-8 juice, for example.
I hope the answer will help you.
<span>The product price and the average total cost determines the profit. If a company is charging a higher price than the per-unit cost, then they are earning a profit on that item. If they increase the price with everything else remaining constant, their profit increases. The opposite happens when they lower the price, all else held constant.</span>
Answer:
The correct answer is option c.
Explanation:
A perfectly competitive market has a large number of buyers and sellers. The firms are price takers and the price is determined by the market forces. Thus the monopoly firms face a horizontal demand curve. This horizontal line represents price, average revenue, and marginal revenue. The equilibrium is obtained where price, (average revenue and marginal revenue) is equal to marginal cost. There is no restriction on entry and exit of firms in the long run. That's why firms face a break-even in the long run.
While in a monopoly market there is a single firm. This firm fixes price higher than marginal cost. The demand curve of the monopoly is a downward sloping showing relatively elastic demand. A monopoly firm can earn profits in both the short run as well as the long run.