Answer:
e. exists when a single seller experiences lower average total costs than any potential competitor.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public water supply company is an example of a monopoly because they serve as the only source of water provider to the general public in a society.
A natural monopoly exists when a single seller experiences lower average total costs than any potential competitor because of the very high start-up or initial cost and economy of scale.
Answer: a) increase in the demand for bagels
If muffins and bagels are substitutes, a higher price for bagels would result in a(n)
a) increase in the demand for bagels
b) increase in the demand for muffins
c) decrease in the demand for muffins
d) none of the above
b) increase in the demand for muffins
A Vision Statement is an aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future.
Answer:
<em>There are four types of analytics, </em>
- <em>Descriptive, </em>
- <em>Diagnostic,</em>
- <em>Predictive, </em>
- <em>Prescriptive.</em>
