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alexdok [17]
3 years ago
14

What is the condition for profit maximization for a pure competitive firm?

Business
1 answer:
Reika [66]3 years ago
4 0
I believe this needs to come from a non monetary source. Pure competition allows for no price change between firms. So profit maximization needs to come from market share. I believe the answer would have to be in service levels or ease of business improvements. If you are forced to have the same price levels the levers to pull are few but the exist only customer service, ease of transacting, other value add initiatives. Just my thoughts
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Marquez, the hotel manager, knows that the number of guests at his hotel has significantly decreased. Therefore, corporate has m
DiKsa [7]

Answer:

The correct answer is d. resource allocator.

Explanation:

One of its most obvious roles, since it includes functions related to the distribution of human and material resources in the company. Related to it would be incentive management, task planning and time spent on them, project management and authorizations.

4 0
4 years ago
In the short run, increasing marginal costs always imply increasing average total costs. a. Trueb. False
Vinvika [58]

Answer:

The answer is A. True.

Explanation:

Marginal Cost is the cost of producing one more product unit.

Marginal Cost = Average Total Cost / Average Goods Output

Therefore, in the short run, an increase in Marginal Cost implies a similar increase in Average Total Cost.

8 0
3 years ago
Products of the mind, such as computer software, a screenplay, a music score, or the chemical formula :
gizmo_the_mogwai [7]

Answer: Intellectual property

Explanation:

Intellectual property is a property that is the result of the creativity of an individual or firm. Intellectual property is a form of property that includes the intangible developments of the human intellect.

Stealing of another person's or firm's intellectual property is a crime and is punishable. There are different types of intellectual property. The well-known types are patents, copyrights, trade secrets, and trademarks.

3 0
3 years ago
Read 2 more answers
Which of the following correctly orders the investments from LOWER risk to HIGHER risk?
Yuliya22 [10]
Here is the correct order of investments from Lower Risk to Higher Risk: <span> Treasury bond − Diversified mutual fund – Stock

Treasury bond is released by Government, so unless your country went bankrupt, it is safe to assume that you will get the investment back.

Diversified mutual fund puts your eggs in a lot of baskets So in case one of your investment fail, the others could still support your overall investments

Since the stock is a single entity and really fluctuative, it is considered as the most dangerous type of investment.

</span>
3 0
4 years ago
Telling your spouse where you would like to go out to eat for your birthday makes sense in terms of utility maximization. This s
Elanso [62]

Answer:

The correct answer is: The benefit of making the request will likely exceed the cost.

Explanation:

Utility maximization implies obtaining the greatest return after making a decision considering the least amount possible of resources in the process to obtain what is desired. The benefit is greater than the cost, utility maximization takes place in determining what the benefit and the cost could be.

Thus, <em>if you decide to tell your spouse where to go to eat for your birthday, the benefit of informing that is likely higher than the cost of disclosing that information</em>.

8 0
3 years ago
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