Competitive price taker firms always earn zero economic profit in long-run equilibrium because of the following reasons which include easy entry & exit, small player etc.
Perfect competition exists when there are many sellers, firms can easily enter and exit, products are identical from one seller to the next, and sellers are price takers.
A perfectly competitive firm must accept the equilibrium price at which it sells goods because it is a price taker.
A perfectly competitive firm will be unable to make any sales if it charges even a small amount more than the market price.
Furthermore, a perfectly competitive firm must be a very small player in the overall market, allowing it to increase or decrease output without affecting the overall quantity supplied and price in the market.
Hence, Competitive price taker firms always earn zero economic profit in long-run equilibrium.
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The focus of Performance Based Logistics (PBL) is to leverage best practices of both Government and Industry.--- True
Explanation:
PBL is synonymous with performance-based life cycle product support, where outcomes are acquired through performance-based arrangements that deliver Warfighter requirements and incentivize product support providers to reduce costs through innovation. These Product Support Arrangements (PSA) are contracts with industry or intragovernmental agreements.
What is the focus of performance based logistics?
Performance-Based Logistics (PBL) is the purchase of support as an integrated, affordable, performance package designed to optimize system readiness and meet performance goals for a weapon system through long-term support arrangements with clear lines of authority and responsibility.
How long are PBL contracts?
Effective PBL contracts are typically multi-year contracts (i.e., 3 to 5 years with additional option or award term years), with high confidence level for exercising options/award term years.
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Stakeholders are those groups that have a strong interest in the result of the project or a business.
<h2>What are stakeholders?</h2>
A stakeholder is a person or a group that has a vested interest in the course or outcome of a business and has a direct or indirect effect on the business or participates in it in one way or another.
<h3>Characteristics of stakeholders:</h3>
- It is any internal and/or external person or organization that has or may have the capacity to affect the activity of the organization.
- Stakeholders are members of the organization itself (managers, employees, shareholders), suppliers, consumers, neighbors and the market.
Therefore, we can conclude that all stakeholders can be classified according to their interest in the company's mission.
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Answer: detail oriented
Explanation:
From the analysis made in the question, we can deduce that Apple probably looks to hire people who are innovative and detail-oriented.
A detail oriented person pays attention to every little details and tries as much as possible to avoid mistakes and is very close to being described as a perfectionist.
Answer:
Nonprogrammed; reflective; programmed; reactive
Explanation:
Programmed decisions can be regarded as decision which involves well understood criteria when making it,. nonprogrammed decisions on the other hand can be explained as decisions which are novel, they are decision that does not have clear guidelines when trying to reach solution. rules as well as guidelines can be set up for programmed decisions by Managers when known fact is available because this will enhance in reaching
decisions quickly. It should be noted that While non programmed decisions will generally need to be processed via the reflective system in our brains in order for us to reach a good decision, with programmed decisions, heuristics can allow decision-makers to switch to the quick, reactive system.
