Answer:
b. a large number of firms compete.
Explanation:
In monopolistic competition, <u>a large number of firms compete</u>.
A monopolistic competitive industry is that form of market in which there is large number of buyers and sellers and firm sells differentiated product based on quality, size, shape. So, in monopolistic competitive industry, firms produce and sell varieties of product, a large number of firms compete, firms does not face high barriers to entry and firms does not face perfectly elastic demand for their product.
I would budget for D. Budget for the unexpected.
Answer:
the economic order quantity is 845 units
Explanation:
The computation of the economic order quantity is shown below;
As we know that
Economic order quantity is
= √2 × √annual demand × √ordering cost ÷ √carrying cost
= (√2 × √6750 × √$225) ÷ (√4.25)
= √3,037,500 ÷ √4.25
= √7,14,705.88
= 845 units
Hence, the economic order quantity is 845 units
Answer:
Jill would not be entering into the contract with genuine assent
Answer:
MC > AC : AC rise ; MC < AC : AC fall ; MC = AC : AC minimum .
Explanation:
Marginal Cost MC is addition to total cost with an additional production.
∆C/∆Q
Average Cost AC is average cost per unit of production output. C / Q
Relationship between AC & TC : Average move in direction of Marginal .
MC > AC : AC rises
MC < AC : AC falls
MC = AC : AC is minimum
