Answer: The answer is b. Reduce output in the short run.
Explanation: In production, to determine the quantity of products to supply, the demand of the consumer plays a very vital role. This is because the consumer demand will determine the price at which a company will sell its products.
In the case of Techno above, they would do well to reduce the output in the short run, since demand has reduced, pending when the demand increases. This is because if they maintain their current output of 3000 TV sets per week, they will sell less units and their revenue (price x quantity sold) will be lower than their cost and this will lead to them incurring loss.
So until the recession scare passes, output should be reduced in the short run.
As a group oligopolists would always be better off if they would act collectively as a single monopolist.
Why do oligopolists act together?
- By acting together oligopolistic firms can hold down industry output, charge a higher price, and divide up the profit among themselves.
- When firms ac t together in this way to reduce output and keep prices high, it is called collusion.
What are the advantages of oligopoly?
- An oligopoly can adopt a competitive strategy.
- The extra profits earned from an oligopoly can go into research and development.
- It can bring price stability to the market.
- Oligopolies can offer more information to their consumers.
Learn more about oligopoly here:
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The core component that is critical to effective leadership in the emotional intelligence is empathy. Empathy is where an individual engages understanding towards the feelings of others in which is considered critical as leaders will be more understanding and emotional when exposed to situations.
Answer: The correct answer is "b. develop renewable energy sources".
Explanation: The least expensive and most sustainable way to meet our energy needs into the future is to <u>develop renewable energy sources</u> since although this type of energy may require a large investment in the beginning, in the long term it brings benefits that clearly make it the least expensive and sustainable way since renewable energy sources do not deplete the resources of the planet.
Answer:
a. True
Explanation:
This statement is true as a norm is a widely accepted behavior or standard of doing things that <em>most people</em> in a society/group agree with. '<em>Over half of the group' </em>can be considered as a majority . It is basically an informal guide on what is considered correct or incorrect and is about the behaviors of that aforementioned group.
