Answer:
True
Explanation:
By failing you learn from your mistakes, and it's just overall good to fail, the more you fail the more you learn and learn not to repeat it.
Helping their employees develop their own decision-making approach.
The two trees are time-driven decisions and development-driven decisions. Sometimes managers just have to take the lead and make a decision quickly and effectively, but in other situations they can take more time and focus on training and developing their employees into effective decision makers.
Answer:
The correct option is B
Explanation:
The short-run supply curve is the curve which shows or represent the marginal cost curve portion and that lies or stated above the average variable cost curve.
And when the prices of market increases, then the firm or organization will supply more of its products as per the law of supply.
So, the short-run supply curve represents the supplied quantity through all the firms in the market at each price but when every firm will plant and the number of firms will remain the same.
Answer:
never heard of that person
Explanation:
Answer:
Price discrimination is when a producer charges different prices, to different consumers for the same good or service. Therefore, an airline that charges different prices to different passengers for the same flight is practicing a third degree price discrimination because consumers are charged different prices based on their different demand elasticities.
Economic efficiency is when scarce resources are used in the most efficient way to produce maximum output; it consists of productive efficiency and allocative efficiency. For price discrimination to be possible, the firm must have a certain degree of monopoly power; that is, the firm must be a price maker. Monopolies typically fit into this description as they discriminate by charging consumers with an inelastic demand higher prices; this reults in allocative ineffciency because price is greater than the Marginal Cost (P>MC).
On the other hand price discrimination could increase efficiency; price discrimination aims to convert consumer surplus to producer surplus, thereby increasing the profit of the firm. An increase in profits could be dedicated to investement in research and development; this could see such a firm achieve dynamic efficiency (long-run productive efficiency). Secondly, due to the increased profits and the potential for more profits, output is increased and price moves closer to the MC (Closer to allocative efficiency). In addition, an increase output would mean that the firm is making use of its spare/idle capacity in production, moving output towards optimum. From another perspective, a firm can reap economies of scale through price discrimination; this is because price discrimination leads to an increase in output and a reduction in average cost.
Explanation:
