Answer:
A. free-market conditions.
Explanation:
Free market are the condition in the market, which is not governed by the government and people are free to exchange their goods and services with others and market are solely operated by the law of demand and supply. Government does not interfere in the functioning of market and market is regulated by private players or entrepreneur.
Following are the disadvantages of free market condition:
- Profit is the only motive remain.
- High rate of unemployment and inquality.
- High chances of monopoly.
Answer:
Follows are the solution to this question:
Explanation:
Formula:
Answer: 1. No.
2. Yes.
Explanation:
Price Discrimination is a pricing strategy where suppliers/producers or sellers sell a good to different people at different prices depending largely on their preference and/or capacity to pay for the commodity i.e, if you want it more, you are charged more.
1. Johnny did not like to play Hopscotch, so offering Suzie one day of Hopscotch for two days of bug hunting is fair and no price discrimination occured as he did not offer these terms to someone else who's game he did not like.
2. Sam knew that Johnny really liked playing Slaps so he leveraged on that and offered him more expensive terms so to speak than he did to Bill even though he liked playing the both games equally. This means that he charged Johnny more than Bill simply because Johnny liked and preferred his game alot which is Price discrimination.
Answer:
d. Patents give firms an incentive to spend money on research and development.
Explanation:
Connor argues that the consumers are worse off due to the high prices as a result of patents. The prices would be much lower if patents were not applicable because the MC per unit is always low.
But as Connor argues patents provide an uncentive to producers to invest in R & D whch benfits the consumers in the LR both in terms of product variety and cost reduction.
Answer:
Arthur should choose a handful of employees according to their abilities and provide them with the training and pay raise.
Explanation:
According to my research on different managerial roles and responsibilities, I can say that based on the information provided within the question to eliminate this behavior Arthur should choose a handful of employees according to their abilities and provide them with the training and pay raise. By doing this the employees will increase productivity in order to be chosen.
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