When each firm produces 8 units, Big Inc has a lower total cost, and when each firm produces 12 units, Mega crop has a lower total cost.
<u>Explanation:
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When each product is made 8 units, Big Inc does have a smaller total cost, and when each company produces 12 units, Mega Crop does have a smaller total cost.
A single company producing goods without near competition has a monopoly, whereas an oligopoly market does have an amount limited of extremely large companies producing similar or slightly separate goods. For both cases, the entrance of other businesses is significantly impeded.
By nationalization of a good or service like postal system a government could create a monopoly.
Answer:
a. 0.8
Explanation:
In economics the MPC is the marginal propensity to consume. This percentage is usually multiplied by the disposable income to figure out how much money people in an economy will spend.
Marginal utility is the extra satisfaction gained from consuming one more unit of a good.
Answer:
Bench-marking
Explanation:
Benchmarking is the process that works for comparing the products, services, etc by the other companies who are dealing with the same type of business that refers to the best in the industry or performing superior performance.
It could be done either by the cost, quality, time, quantity, etc
The aim of doing this process is to gain the competitive advantage so that they get to know their strength, weakness, opportunities, and threats