Answer:
Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.
Specific statements detailing what the organization intends to accomplish over a short period of time are called objectives. Objectives are stated by the company to keep goals on track and allow the organization to monitor their growth and completion. By keeping objectives open to everyone within the organization, it makes it easier for employees to stay on task and make sure by the end of the period, everything is done.
The probability that both item is defective are 3.84%
The probability that the second is defective is 20%
<h3> What is the probability that both items are defective?</h3>
a) Remember that the question says they are drawn without replacement
hence
(20/100)*(19/99)
= 19/495
= 0.03838383
= 3.84%
b. What is the probability that the second item is defective?
(20/100)*(19/99) + (80/100)*(20/99)
= 0.03838383 + 0.1616
= 0.199999
= 0.2
= 20 percent
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D) Laissez-faire
Laissez-Faire/Free-Rein Management Style
If the laissez-faire manager withdraws too much, it can sometimes result in a lack of productivity, cohesion, and satisfaction. Under this type of management, subordinates are given a free hand in deciding their own policies and methods.
