Answer:
E)are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is greater than marginal cost.
Explanation:
Monopolistic competition can be regarded as imperfect competition whereby many producers that are competing against each other exist in the market, though they are selling products which can be differentiated from one another. Monopolistically competitive firms do
maximize their profit if their production is at a level where marginal costs as well as its marginal revenues equals. Hence, monopolistically competitive firms are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is greater than marginal cost.
Answer:
The answer is:
1. Cyclical Unemployment
2. Frictional Unemployment
3. Natural Unemployment
Explanation:
1. Unemployment caused by recessions - cyclical unemployment. It is caused by reduction in total spending, low activities in the economy. Coronavirus pandemic is already causing cyclical unemployment.
2. Unemployment that normally occurs due to turnover as workers switch jobs - frictional unemployment.
This happens when a worker leaves a job to search for another. The unemployment between the time gap is frictional unemployment.
3. The unemployment rate that exists when the economy is operating at potential - Natural Unemployment.
Unemployment caused by replacement of obsolete technology or lack of required skills are called natural employment.
Answer:
C. Individuals
Explanation:
Indivudals do not own the factors of production.
Answer:
A 4-month weighted moving average forecast for July would be 137.50.
Explanation:
Note: This question is not complete as the appended information is not provided. To complete the question, the appended information is therefore before answering the question as follows:
Month Actual Demand
January 120
February 95
March 100
April 25
May 200
June 25
The explanation of the answer is now provided as follows:
The most recent month = June
The month preceding the most recent month = May
The month preceding that one = April
Last month = March
Therefore, we have:
Forecast for July = (June actual demand * 30%) + (May actual demand * 50%) + (April actual demand * 40%) + (March actual demand * 20%) = (25* 30%) + (200 * 50%) + (25 * 40%) + (100 * 20%) = 137.50
Therefore, a 4-month weighted moving average forecast for July would be 137.50.
