Answer:
the state of different areas or groups being joined together to form a single country or organization.
Explanation:
The demand and marginal revenue for a perfectly competitive firm are horizontal , whereas the demand and marginal revenue for monopolists are downward
<h3>What is meant by marginal revenue?</h3>
The increase in revenue that comes from selling one more unit of output is known as marginal revenue. Although marginal revenue can remain constant at a certain level of output, it will eventually start to decline as the output level rises due to the law of diminishing returns. The increased total revenue produced by increasing product sales by one unit is known as marginal revenue and is a key topic in microeconomics.
An individual, group, or business that dominates and controls the market for a particular commodity or service is referred to as a monopolist. Due to the absence of substitute products or services and competition, the monopolist has the ability to command high prices. According to Irving Fisher, a monopoly is a market where there is "no competition," which results in a situation where one person or business is the only supplier of a specific good or service.
Hence, The demand and marginal revenue for a perfectly competitive firm are horizontal , whereas the demand and marginal revenue for monopolists are downward.
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Answer: Option (A)
Explanation:
Product Line stretching is referred to as an expanding technique undertaken by the organization under which the new commodities and services are released in the similar product line but further the ongoing product dimension with some of the different or additional features. The product line stretching at times can also tend to be down market or up market.
Answer:
The correct answer is B. The vendor has latitude in establishing prices for the other party's goods or services.
Explanation:
In an ideal scenario, both sellers and buyers should agree on the price and conditions of a product, in order to avoid speculation and subsequent conflicts. In the event that a seller is the one who has the freedom to decide the conditions such as price or distribution, he is acting as a commercial agent, since he is autonomously deciding on aspects that should correspond to the buyer as the main agent.
