Answer:
The correct answer is A
Explanation:
Value network is the graphical illustration of the technical as well as social resources among the firms and how they are utilized. And the nodes in the value network states the people, which are connected or linked through the interactions which represent the deliverables.
So, the accurate statement is that it is a system of the alliances and the partnerships which firm creates to augment, deliver and source its offerings.
selling goods only at certain predetermined prices that reflect definite price breaks is called Price lining
Price lining, also known as product line pricing, is a marketing tactic where a company charges for its products in accordance with its quality, features, or other characteristics to set them apart from competing ones.
Price line, to put it simply, is the practice of placing comparable products in various price ranges, each of which differs significantly in terms of the characteristics or qualities it offers. These brackets typically have lower starting prices and higher price points.
Despite having "price" in its name, price lining is a marketing tactic. The major goal of this strategy is to increase sales and audience size by making the offering more appealing to a wider range of consumers.
Apple, a company that makes smartphones, is a good illustration of price lining in action. Apple offers its iPhone lineup in a range of price points, with each model differing mainly in the small number of extra features that are added to the more expensive ones. Instead of solely selling expensive iPhones, Apple now offers a variety of models to appeal to customers with varying levels of purchasing power, which helps them grow sales.
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Answer: A firm should not continue production when its MR is lower than its AVC.
Explanation:
The goal of every firm is to minimize cost and also maximize profits and therefore the firm will operate at the output level where the marginal revenue and the marginal cost equates.
A firm should not continue production when its MR is lower than its AVC. Here, the firm will incur a higher loss during production as producing will not offset the variable cost. Therefore, it's better to shut down.
Answer:
The correct answer is option II and III only.
Explanation:
Monopolistic competition is a market structure where there is a large number of buyers and sellers. The sellers in this market sell differentiated products which are close substitutes.
There is a very low restriction on the entry of new firms in the market. Because of differentiated products each firm has some degree of market power. The firms face a downward-sloping demand curve. This means that the firms decide the price level.
Though the firms enjoy zero economic profits in the long run.
Answer:the correct answer is A. For the 11th worker, the marginal profit is $600.
Explanation:
10 men 20 vanities per week
11 men 22 vanities per week
1 man more 2 vanities more
If the company uses 1 man more produces 2 vanities more, so the company spends $1000 on the extra man and makes 2*$800= $1,600 (for two extra vanities). For the 11th worker, the marginal profit is = $1600-$1000= $600
