Answer: 0.056
Explanation:
Total factor productivity is the ratio of the aggregate that is, the total output to the aggregate inputs. Total factor productivity is used to measure economic efficiency of a country.
From the question, we are informed that Burundi's observed per capita GDP, relative to the United States, is 0.01 and the predicted per capita GDP is 0.18. Then, the total factor productivity will be:
= 0.01/0.18
= 0.056
Answer: Maturity Stage
Explanation:
At the maturity stage, the product reaches its highest point of demand and sales. The market is getting closer to saturation, so the number of potential new customers is limited, and competition increases. During the saturation and decline stage, sales stop increasing, so profitability is lowered.
Answer:
c. mass marketing
Explanation:
The firm is practicing mass marketing because it has a strategy that is trying to sell the product on a large scale ignoring market segments and not trying to know its customers to be able to understand what they expect and like that target them in a more effective way.
Answer:
a) price of $7 and quantity of 50 units
Explanation:
According to what I'm understanding of the table you got the following:
![\left[\begin{array}{ccc}Price&Supply&Demand\\5&11&36\\6&36&68\\7&50&50\\7&73&37\\...&....&...\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7DPrice%26Supply%26Demand%5C%5C5%2611%2636%5C%5C6%2636%2668%5C%5C7%2650%2650%5C%5C7%2673%2637%5C%5C...%26....%26...%5Cend%7Barray%7D%5Cright%5D)
The equilibrium will be when both forces meet in this case, it is clear that it is happening at a price equal to $7 which generates a supply of 50 units and a demand for 50 units. Both have the same value so it is equilibrium
Answer: For a competitive market, <u><em>if a seller charges more than the going price, buyers will go elsewhere to make their purchases.</em></u>
Explanation:
A perfectly competitive market has the following characteristics:
(a). In this particular market there are many buyers and sellers.
(b). Also each company makes similar product. i.e. the products are identical in nature.
(c). In this market buyers and sellers will have access to perfect information about price. and product.
(d). In a competitive market there are no barriers to entry into or exit from the market.
Therefore , <u><em>if a seller charges more than the going price, buyers will go elsewhere to make their purchases.</em></u>
