Hey Friend
Monopolistic competition are markets with many buyers and sellers, easy to enter and leave, but with differentiated products. Therefore, the answer is (C).
Answer:
marginal product of labor = 5 widgets per hour
Explanation:
In order to maximize profits, the firm must produce the output quantity where marginal revenue = marginal cost. In this case, the marginal revenue is $2, so the marginal cost must also be $2.
If hiring the last widget maker costs $10 per hour, and the marginal cost per widget is $2, then the worker must be able to produce 5 widgets.
Answer:
D is the correct answer.
Explanation:
It is an important part of some qualitative research philosophies especially for those in which interviews and observations need to be taken. It is also known as mind mapping or Phenomenological reduction. The purpose of this technique is to develop a non-judgmental research team, whose preconceived notions won't affect the perception of the phenomenon. This must be done with care.
