It is an advantage when group incentives encourage competition between groups of employees when groups try to outdo one another in satisfying customers.
Competition is uncertainty about how to ensure survival. Competition can occur between entities such as organisms, individuals, and economic and social groups. Rivalry is about achieving unique goals such as visibility, leadership, market share, niche, scarce resources, or territory.
Competition, most commonly viewed as the interaction of individuals competing for a finite common resource, is the direct or indirect interaction of organisms that results in changes in fitness when they share the same resource. can be defined more broadly as a dynamic interaction.
There are four kinds of competition in a loose marketplace machine: perfect opposition, monopolistic competition, oligopoly, and monopoly.
The four key characteristics of perfect competition are: (1) a huge wide variety of small companies, (2) equal merchandise offered by all firms, (three) perfect resource mobility or the liberty of entry into and go out out of the enterprise, and (4) perfect information of costs and generation.
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Answer:
is the addition to total output due to the addition of the last unit of an input, holding all other inputs constant. 
Explanation:
The marginal product of an input is the change in total output as a result of the change in output by 1 unit 
For example, the table below is the total product of labour 
amount of labour output 
1                                 10
2                                20 
3                                40
the marginal product of the 3rd worker = (40 - 20) / (3 - 2) = 20 
marginal product of the second worker = (20 - 10) / (2 -1 ) = 10
Average output = total output / labour 
 
        
             
        
        
        
The benefit enjoyed by a third party that is not directly involved in the production or consumption of a good or service is called externality.
What does the term externality mean?
Externalities are situations when the production or consumption of products and services has an impact on other people that results in costs or advantages that are not accounted for in the pricing charged for the goods and services being offered.
What impact do externalities have on the economy?
When people, households, and businesses fail to internalise the indirect costs or advantages of their economic interactions, externalities pose serious issues for economic policy. Inefficient market outcomes are the result of the resulting wedges between social and private costs or profits.
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Answer:
<u>Favourable Changes:</u>
Sales
Gross Profit
Operating Income
Interest Expense
Net Income
<u>Unfavourable Changes:</u>
Cost Of Sales  
Selling Expenses  
General Expenses
Other Revenue 
Income Taxes
Explanation:
Observe Movement from 2018 results to 2019 results
                                         Erie Corp
                    Vertical Analysis of Income Statement
                                                                 2019                    2018
Sales                                                        1,397                    1,122
Less Cost Of Sales                                   935                      814
Gross Profit                                               462                      308
<u>Less Operating Expenses</u>
Selling Expenses                                      154                       121
General Expenses                                     88                        77 
Operating Income                                   220                       110
<u>Less Non- Operating Expenses</u>
Other Revenue                                            4                          7
Interest Expense                                         2                          9
Income Taxes                                           134                        66
Net Income                                                88                        42
 
        
             
        
        
        
Answer:
A buyer's willingness to pay for a good plus the price of the good means the buyer is indifferent between buying the good and not buying it.
Surplus is the amount by which the quantity supplied of a good exceeds the quantity demanded of the good. 
Producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good. 
Consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.