Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly
Explanation:
Cournot Model: In Cournot model, firms produce output independently and then set their prices. In this type of model, the products are typically standardized.
Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.
Bertrand Model: In this model, firms have interaction with buyers in order to set prices and quantities.
Answer:
A) The marketing research process
Explanation:
Marketing research process is the collection, analysis, and interpretation of data relating to the marketing conditions. It consist of the systematic process of planning and executing marketing objectives and also solving marketing related problems
Defining the problem, developing the research plan, collecting information, analyzing information, presenting the findings and lastly making decision.
Answer:
b) 5
Explanation:
W TP MP MRP
1 100
2 190 90 900
3 270 80 800
4 340 70 700
5 400 60 600
6 450 50 500
7 490 40 400
8 520 30 300
the marginal product of n labor = (total product of n labor - the total product of p labor)/(n-p)............(n>p)
Marginal revenue product = marginal product*price
the firm employ input up to marginal revenue product equal to the wage
MRP = wage or closest lower wage
where W = 5
the firm will higher 5 workers.
Business firms that sell to retailers and other merchants, and/or to industrial, institutional, and commercial users-but which do not sell in large amounts to final consumers-are called wholesalers. These are businesses that would purchase product in very large amounts and sells them to other businesses or the retailers at a lower price whose target customers are the consumers.
