Answer:
A) True
Explanation:
A good way to think about it is that industry, a general term for businesses engaging in productive practices, is concerned with the production of goods. These are the goods that are demanded by consumers. So as 'industry' is supplying those goods, it must be on the supply side of the market.
Solution :
The average number of the arrivals, λ = 6 per hour
Average service rate, 
= 8
Average number of the customers in the system is given by,
= 3
Average number of the customers that are waiting in the line behind the person who are being served is,
= 2.25
Proportion of the time the server is busy,
= 0.75
Answer:
The answer is C. can earn profits or incur losses in the short run.
Explanation:
A monopolist maximizes profit or minimizes losses by producing that quantity that corresponds to when marginal revenue = marginal cost. However, if the average total cost is above the market price, then the firm will incur losses, equal to the average total cost minus the market price multiplied by the quantity produced
Answer:
False
Explanation:
A defined benefit pension plan is a type of pension plan where the employer gives a promise with respect to the particular pension payment that could be lumpsum for the retirement basis
Since in the question it is mentioned that the companies would not continue with the defined benefit plan and they move to the defined-contribution plans that save for the retirement so that it would create the more responsibility over the company due to this they would provide the retirement benefit but this statement is false as it is better to received the lumpsum amount
Answer:
Natural monopoly
Explanation:
A natural monopoly refers to a type of monopoly that occurs when the start-up costs or infrastructural costs are high or economies of scale in an industry are very powerful in such a way that only the largest supplier in the industry which is usually the first supplier in the market has a great advantage over potential competitors and therefore becomes the only supplier in the industry.
On the long-run average cost (LRAC) curve, a natural monopoly exists when the quantity demanded is less than the minimum quantity that is required to be at the bottom of the LRAC curve.
Therefore, a <u>natural monopoly</u> exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.
