Due to its ease of accommodating an increase in production, the representative firm in monopolistic competition typically has excess capacity over time.
<h3>What will happen if a monopolistic, rival business raises its price?</h3>
However, customers have the option to purchase a comparable product from another company if a monopolistic rival increases its price. When a dominant rival raises prices, it will not lose as many clients as a business operating in perfect competition, but it will lose more clients than a monopoly.
<h3>Why does monopolistic competition have excess capacity?</h3>
Natural monopolies or monopolistic competition both have excess capacity as a feature. It could take place as a result of businesses having to make lumpy or indivisible investments to boost capacity as demand rises.
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Answer:
d) price per unit times quantity sold
Explanation:
Total revenue refers to the total receipts generated by a firm at a given level of output sold. It is represented by:
TR = P × Q
wherein, TR = Total Revenue
P= Price per unit
Q= Units or Quantity sold
Marginal revenue refers to the addition to total revenue when an additional unit is sold.
It is expressed as;
<span>The budgeting process requires significant coordination among the company's various business segments. Budgeting requires all aspects of a business to come together and make decisions. The decisions need to be made together because the company will usually have an overall budget as a whole but then the individual sections will also have a budget. When they work together if one department needs more money they are able to allocate resources and shift money around easier. </span>
Answer:
If the purpose of the correspondence is to deliver a negative message, it is especially important to consider tone. In a negative message, it is best to use a gracious and sincere tone.
Answer:
Legal fee paid = Asset
Driveway = Asset
Meat-grinding machine = Asset
Prepaid rent = Asset
Wages for construction of buliding = Asset
Wages for delivery truck = Expense
