<span>They originally felt that licensing would be the best first step. By letting other companies use their product in exchange for paying royalty fees, Bernerd was licensing its product out for those companies to take advantage of the company's name.</span>
I believe the answer is Time management
Answer:
idk, just go for it if its wut u want
Explanation:
Pure competition or perfect competition is where all firms have full knowledge of what is going on in the market, where there is free flow of information between not only the producers, but also with the consumers.
As such, all firms have no dominant share of market power since each individual firm is able to produce the good of the same quality and quantity (factors of production are fluid, and no costs in transportation in this theory). And at the same time, consumers have full knowledge of the quality of good they are getting and hence no firm will be able to exploit the misinformation of a good for its own profits.
This builds up to the point of a perfectly elastic demand curve, where consumers know what amount and at which price point do they value the product at. And knowing for the fact that small individual firms in a purely competitive firm have no say over prices, they become the price takers for this kind of market. Thus where MB=MC, the equilibrium point is reached and it is also at the socially optimal level since all consumers have full knowledge of the pros and cons of consuming a product (hence no externalities).
Hope this helps!<span />
Answer:
Letter a is correct. <em>Monopolistic competition is similar to monopoly because both market structures are characterized by firms being price makers rather than price takers.</em>
Explanation:
<u>
A monopoly</u> is an economic situation whose main characteristic is imperfect competition, that is, only one company owns a market for a particular good or service and for this reason is able to influence the price of that good or service for its own benefit.
<u>Monopolistic competition</u> resembles monopoly in that it is characterized by business competition for similar but not equal products, so they are also capable of making the price, since similar products sold on the market cannot be considered perfect substitutes.
