Answer:
Greater than marginal cost.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. It is also known as oligopoly, wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
Also, a single-price monopolist is an individual or seller that sells each unit of its products to all its customer at the same price. Hence, a single-price monopolist doesn't engage in price discrimination among its customers (buyers).
At the level of output at which a single-price monopolist maximizes profit, price is greater than marginal cost because the marginal revenue would be below the demand curve.
However, if the marginal cost is greater than the price, the monopolist will not make any profit.
<em>In a nutshell, profit maximization for the single-price monopolist occurs at the point where marginal cost is equal to marginal revenue (MC = MR) on the graph of price (P) against quantity (Q) of goods. </em>
Joel is asked to provide a description of his neighbor's car after the car and the neighbor both disappear. he is surprised to find that he really can't accurately recall the make of the car or any special details that might help in identifying it. in this case, joel may be experiencing <u>Pseudoforgetting.</u>
Answer:
The spending on imports is $0 million.
Explanation:
GDP = C + I + G + (X – M)
Here, C is consumer spending of $4million, I is investment of $2million, G is government spending of $5million, X is exports worth $4million and M are imports which not given in the question. The GDP in the question is given and is $15million.
So by putting values in the equation we have:
15 = 4+ 2 + 5 + (4 - M)
15 - 4 - 2 - 5 - 4 = M
This emplies
M = $0 Million which means that the country has a complete ban on its importation of goods and services.
Answer: over-borrowing.
Explanation:
credit cards function like this: you can "buy" a lot of things with it, including very very expensive things. this is because instead of really buying that product, you borrow money from the bank to buy it. you then have to pay it off in slower amounts of money over time until youve paid off the original cost of the product and more because the bank will most likely charge interest.
sounds great, right?
it is, until you cant afford to pay those smaller amounts of money. then, it starts to build up and if you still cant afford to pay the bank, they will begin to liquidize your physical assets (they take your stuff as payment, really anything, even your house can be taken.)
Answer: E. switch to a multiple supplier approach
Explanation:
Since the company has had issues with inventory in the past, then the recommendation of the production manager should be that the company should switch to a multiple supplier approach.
By switching to multiple supplier, the company can compare prices and also have alternative suppliers to call in case there's a challenge with a particular supplier.
