Answer:
Option A : Because at zero profit, with her revenue, she can cover all her costs—explicit and implicit (opportunity cost).
Explanation:
Perfectly Competitive Market
This is simply a market the market participants are said to be price takers that is no consumption decisions by individual consumers and no production decisions by individual producers can be able to affect the market price of a good.
Perfectly Competitive Industry
This is simply an industry where producers are said to be price takers.
Explicit Costs
These are costs that are simply known as "out-of-pocket" costs or in accounting costs. They are an individual's fixed and variable costs of doing business.
Implicit Costs
These are costs that do not partains to monetary payment as they are the opportunity costs of doing business.
It is said that at zero profit, the revenue covers all the costs, including the implicit ones. The fact that her implicit costs are covered shows that no outside option or opportunity that is superior to the zero economic profit option is chosened.
<span>_____ are people willing to take the risk of starting, owning and operating a business. answer
a. entrepreneurs </span>
Answer: Option D
Explanation: In simple words, technology upgrading refers to the process in which a firm intensely changes the level of technology it is using for its operations. In such a process the organisation implements a more advanced technology so that it can enhance the operational activities within.
Technology up gradation is a necessity in today's competitive business environment but if implemented in a right way it can give an organisation a strong competitive advantage which will open new doors to success.
For example automobile industries upgraded their technology to a higher level which made the operation at such a high scale that it became an oligopoly industry.
An oligopoly industry is the one in which there are few firms operating at a high scale with difficulty in entry due to heavy investments.
Answer: a strategic channel alliance
Explanation: In simple words, strategic alliance refers to a business arrangement in which two organisations combine their resources for their mutual benefits.
Under such an arrangement two organisation agrees to combine their activities and efforts for a particular objective but still remain independent as two separate entities.
Such alliances are generally evident in situation where companies wants to exploit foreign markets. Hence from the above we can conclude that the arrangement between general mills and nestle is a strategic alliance.
