For a monopolist b. price is above marginal revenue.
<h3>What Is Marginal Revenue? </h3>
Marginal revenue can be regarded as increase in revenue which is been gotten from the sale of one additional unit of output.
As a monopolist that is the the only seller in the market, then their marginal revenue is usually above price because they don't have a competitor that is close enough.
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Answer:
GDP is not affected by Pete's production of the jewelry box.
Explanation:
Pete is a woodworker and works 20 hours to prepare a jewelry box to gift his wife. If Pete prepares this jewelry box to sell and earn revenue, this will be considered in GDP but in this case Pete prepares a jewelry box to give his wife as his wife's birthday gift.
All types of gifts received or given in kind are not included in Gross Domestic Production.
Answer: Shift to the right
Explanation:
Fertilizers are an important input in wheat production. When the price of fertilizers fall, it leads to a decrease in cost of producing wheat. Thus, producers will supply more wheat in the market. As a result the supply curve for wheat will shift to the right leading to a fall in the price of wheat and an increase in the quantity of wheat sold in the market.
Answer:
Explanation:
Product vs Service Business
While it may seem to go against traditional thinking, in some ways there is very little difference between product based and service based companies. In actuality, both sell a product. The distinction between the two is that the product business sells a physical, tangible product, while the service business owner sells his skills as the primary product. In the service-based business, customers purchase the skills of a service provider or owner, such as a plumber or lawyer, This type of business has a strong emphasis on the client relationship and makes the customer's user experience very important. Product-based businesses, on the other hand, deliver physical products that are reasonably consistent in quality for each customer, making the customer experience fairly predictable.
Local or Global Consumer Markets
In general, when consumers are looking for new solutions they try to distinguish the different services/products of business and industry in the locality where they reside. As such, businesses need to target their product and service based businesses to the appropriate markets. Consumers located anywhere in the global market can purchase a product via the internet as long as they can have their purchase delivered locally and cost effectively. However, most service businesses can only provide services to customers within their local target market. For example, while a computer store can ship computers all over the world, a hairstylist will only attract clients within a reasonable driving distance from her home or business. As a result, businesses need to consider how their customer base will influence their marketing efforts.
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Answer:
The Dependent or the Beneficiary collect $1000 every month pay income tax
Explanation:
Bonita is the policyholder that pay premium .
The mother is the dependent and the beneficiary ,who takes the trust monthly
The bank is the trustee that disburse the trust fund to the beneficiary month .
