The attached graph shows the required curves to be drawn. One of the curves is called the Marginal Revenue Curve.
<h3>What is a marginal revenue curve?</h3>
At the market price, the marginal revenue curve is a horizontal line, suggesting completely elastic demand, and it is equal to the demand curve.
Monopoly occurs when one corporation is the exclusive vendor of a distinct product in the market.
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Full Question:
The graph shows the market for smart rackets.
Suppose the profit-maximizing output is 160,000 smart rackets.
Draw the firm's marginal revenue curve. Label it MR.
Draw the firm's marginal cost curve. Label it MC.
Draw a point at the profit-maximizing output and price.
Draw a shape to show the firm's economic profit. Label it.
A company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors by scanning the external environment.
Company identify newly appearing competitors by marketing research, seek customer feedback and check online communities on social media or community conventions.
Emerging competitors refers to the process of collecting data, insights about competitors, customers and the market and using it to gain a competitive benefit.
Identifying your competitors strengths and weaknesses will give you a competitive benefit, knowing who your competitors are, and what they are offering, can help you to make your products, services and marketing stand out.
Identifying your competitors marketing strategy by attending professional conferences, analyzing industry reports, analyzing your competitor's website and SEO strategy, analyze competitor's content marketing strategy, analyze competitor's email marketing strategy.
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Answer:
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Explanation:
