Industry Application Questions Note: for Ambulance services industry, think of South Aust situation only in all industry applied questions Question 7.1: Explain how your industry compares against each of the important conditions that define a monopoly market structure. Is your industry a monopoly industry? Question 7.2: Is it possible for a firm in a monopoly industry to make an economic profit or an economic loss in the long run? Explain, using a diagram. Consider the cases of a private monopoly and a regulated monopoly.
Answers
Answer 7.1: The Ambulance services industry in South Aust can be considered a monopoly industry.
Answer 7.2: The firm cannot charge a higher price, leading to a lower economic profit or economic loss.
Explanation:
Answer 7.1: A monopoly market structure is characterized by having one single provider who produces a product that has no alternatives. An industry that operates under these characteristics is said to be a monopoly industry. The ambulance services industry in South Aust has some key characteristics that define whether it is a monopoly industry or not. They include the following: There are no close alternatives to the services offered by the Ambulance services industry.
The industry controls the price at which the services are offered. The government establishes the price for the industry. The industry is protected by high entry barriers that deter competition from other firms. The government has limited the entry of new firms into the market. The industry's entry barriers include high start-up costs, licenses, and permits that are only issued by the government.
Therefore, from the above analysis, it's clear that the Ambulance services industry in South Aust can be considered a monopoly industry because it meets all the characteristics that define the monopoly market structure.
Answer 7.2: Yes, it is possible for a firm in a monopoly industry to make an economic profit or an economic loss in the long run. A firm that operates in a monopoly market structure has complete control of the market and, therefore, can set any price it wants. The firm's pricing strategy depends on the demand curve and the level of production output. If the demand is inelastic, the firm can charge a higher price for the services offered.
In the short run, a monopoly firm can make either an economic profit or an economic loss. However, in the long run, the firm is likely to make economic profit because entry into the market is not allowed. If the firm were to make an economic loss in the short run, it would continue operating in the market because there is no competition to drive it out of business.
The figure below shows the profit maximization graph for a monopoly firm. As seen from the graph, the profit-maximizing level of output is at point P, where
MR=MC.
The firm will make an economic profit of ABP. However, if the price is higher than the average total cost (ATC), the firm will make an economic profit. Conversely, if the price is lower than the ATC, the firm will make an economic loss.
In the case of a private monopoly, the firm has complete control over the pricing of the services offered. Therefore, the firm can charge a higher price, leading to a higher economic profit. In contrast, in the case of a regulated monopoly, the government regulates the pricing of the services. Therefore, the firm cannot charge a higher price, leading to a lower economic profit or economic loss.
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Related Questions
what are two resources within you that are important when choosing a career you would like
Answers
Answer:
Your happiness
education and training
social environment
Explanation:
Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours. His total cost of operating one tour is fixed at $450. Vincent’s cost is not reduced if he runs a tour with a partially full bus. While his cost is the same for all tours, Vincent uses a pricing practice called price discrimination and charges each passenger his/her willingness to pay: adults $18 per trip, children $10 per trip, and senior citizens $12 per trip. At those rates, on a typical day Vincent’s demand is:
Passenger Type
Willingness to Pay
Demand per day
Adults
$18
70
Children
$10
25
Senior Citizens
$12
55
Assume that Vincent’s customers are always available for the tour; therefore, he can fill his bus for each tour as long as there is sufficient total demand for the day.
What is Vincent’s cost of serving all passengers demanding a tour on a typical day?
What is Vincent’s profit on a typical day?
One of Vincent’s friends tells him he would be more profitable if he charged a single price of $18. Assuming no changes in consumer demand, what would Vincent’s profit be if he charged every customer $18? (3 points)
Answers
Answer:
lmk when you get sumtn bro
Explanation:
i need the answer too
Vincent’s cost of serving all passengers demanding a tour on a typical day is $1350. Vincent’s profit on a typical day is $820. Vincent’s profit will be increased he charged every customer $18.
What is price discrimination?A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept.
When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to.
The calculation of the profit of the Vincent is done as follows
1.Number of the tour operated by the Vincent on a typical day=
= Adult demand + children demand + senior citizens demand/ Bus capacity
= 70+25+55/50
= 150/50
= 3
Total cost of the tour = $450*3
= $1350
2. Total Revenue on a typical day = Adult demand * willingness to pay+ Children demand* willingness to pay + senior demand * willingness to pay
= 70* $18 + 25* $10+ 55 * $12
= $2170
Profit = total revenue - total cost
= $2170 - $ 1350
= $820
If he charged every customer $18 with every customer then his profit will be calculated as follows:-
Total Revenue on particular day = Adult demand * $18 + Children's demand * $18 + senior's demand * $18
= 70 *18+25*18+55*18
= $1260+$450+$990
= $ 2700
Profit = Total Revenue - Total cost
= $ 2700 - $ 1350
= $ 1350
Therefore, the profit charged on the price $18 is $1350 which is greater than the previous profit.
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Please help me. I will mark you as brainliest !!
The rule of supply and demand says that
A. as price increases, demand decreases
B. supply and demand both increase with price
C. as demand increases, price increases
D. as demand decreases, price increases
Answers
Answer:
The answer is C
Explanation:
Let's say that we have 100 cars unique in the world and each car's value is 10000$. Now, let's say that you have 3 cars like the last ones, 3 cars unique in the world? You won't sell them at 10000$, you have to increase the price because the cars are very rare.
IN A DEPARTMENT STORE, SALESPEOPLE ARE REWARDED BASED ON THEIR SALES VOLUME. THE PROBLEM IS THAT THEY ARE GIVING SUBSTANTIAL DISCOUNTS AND PRESSURING CUSTOMERS TO MAKE UNNECESSARY PURCHASES What are the reasons for the negative consequences of these bonus schemes? Modify these schemes to solve the problems.
Answers
Answer:
This bonus scheme has two main problems:
consumer satisfaction will decrease because they are pressured to make unnecessary purchases and once they realize it they will not be happy with the store nor with their purchasing experience. This will damage the relationship between the store and its customers. since salespeople are offering substantial discounts in order to boost sales volume, then the profits of the company will decrease.In this situation both lose, the company and its customers.
In order to solve this issue, the store should award bonuses based on total revenue and gross profit margin, not volume. This way, the salespeople will try to sell their products at the normal price, which means that they will have to convince their customers through other strategies and not just low price. The sales technique will have to shift from low cost to differentiated product that can satisfy their customers' needs.
Based on the information given, the negative consequence of the bonus schemes is the reduction in profit.
It should be noted that a bonus scheme simply means an incentive scheme given to employees. It's used to boost the performance of the team.
It should be noted that the disadvantage of the bonus scheme is that it can lead to competition among the employees. Therefore, in this case, the bonus should not be based on volume of goods sold.
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Assembly department of Zahra Technologies had 100 units as work in process at the beginning of the month. These units were 50% complete. It has 200 units which are 25% complete at the end of the month. During the month, it completed and transferred 500 units. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production. Zahra uses weighted-average process-costing method.
What is the number of equivalent units of work done during the month for direct materials? (HINT: The answer is 700 units, but I need work to support it)
Answers
Answer: 700
Explanation:
The number of equivalent units of work done during the month for direct materials will be:
Completed and transferred units = 500
Ending work in process inventory = 200
Number of equivalent units = 500 + 200 = 700
Which table correctly lists the assets and liabilities?
A 2-column table with 4 rows. Column 1 is labeled Assets with entries leased car, mortgaged home, credit card debt, tax bill. Column 2 is labeled Liabilities with entries car, home, savings bond, stocks.
A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, credit card debt, tax bill. Column 2 is labeled Liabilities with entries leased car, mortgaged home, savings bond, stocks.
A 2-column table with 4 rows. Column 1 is labeled Assets with entries leased car, mortgaged home, savings bond, stocks. Column 2 is labeled Liabilities with entries car, home, credit card debt, tax bill.
A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, savings bond, stocks. Column 2 is labeled Liabilities with entries leased car, mortgaged home, credit card debt, tax bill.
Answers
Answer:
A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, savings bond, stocks. Column 2 is labeled Liabilities with entries leased car, mortgaged home, credit card debt, tax bill.
Explanation:
An asset is a valuable item that a person or a corporation owns. An asset has an economic or monetary value attached to it. It is a resource used in generating future benefits, save costs, or produce goods and services. From the list provided, a car, home, savings bond, stocks represent assets.
Liabilities are things or money owed. They are debts or obligations to be met. A mortgage is a debt; hence it is a liability. A leased car belongs to someone else and presents an obligation to pay, making it a liability. The tax bill is a debt.
Answer:
The answer is D.
Hope you past the Cumulative Exam Review!
Explanation:
Which is most likely to happen to consumers with good credit? Check all that apply.
Answers
Answer:
They can use credit in emergencies. A form must be filled out when someone is hired for a job to determine how much income tax will be withheld.
Explanation:
what independent sales branch is being replaced by a manufacturer sales branch
Answers
A company produces product A and product B. Each product must go through two processes. Each A produced requires two hours in process 1 and five hours in process 2. Each B produced requires six hours in process 1 and three hours in process 2. There are 80 hours of capacity available each week in each process. Each A produced generates $6.00 in profit for the company. Each B produced generates $9.00 in profit for the company.
If the company produces 10 units of each product the amount of slack (in hours) for process 1 is?
If the company produces 6 units of A and 9 units of B the company's objective function is?
If the company produces 6 units of A and 9 units of B the value of the objective function is equal to?
Answers
To calculate the slack (in hours) for process 1 when producing 10 units of each product, we need to subtract the total hours used in process 1 from the available capacity.
For product A, each unit requires 2 hours in process 1, so producing 10 units of A would require 10 * 2 = 20 hours in process 1.
For product B, each unit requires 6 hours in process 1, so producing 10 units of B would require 10 * 6 = 60 hours in process 1.
The total hours used in process 1 for producing 10 units of each product is 20 + 60 = 80 hours.
Since there are 80 hours of capacity available each week in process 1, the slack is calculated as:
Slack = Available capacity - Total hours used = 80 - 80 = 0 hours.
Therefore, the slack for process 1 when producing 10 units of each product is 0 hours.
For the second question, if the company produces 6 units of A and 9 units of B, the objective function can be calculated by multiplying the number of units produced by their respective profit values and summing them.
Objective function = (6 units of A * $6.00 profit per unit) + (9 units of B * $9.00 profit per unit)
Objective function = $36.00 + $81.00
Objective function = $117.00
So, the objective function for producing 6 units of A and 9 units of B is $117.00.
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Why is it important to check your credit score?
Answers
Explanation:
Checking your credit history and credit scores can help you better understand your current credit position. Regularly checking your credit reports can help you be more aware of what lenders may see. Checking your credit reports can also help you detect any inaccurate or incomplete information.
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Which of the following is not an additional tax a taxpayer may have to pay? Multiple Choice Alternative minimum tax. Self-employment tax Net investment income tax Excess wage tax.
Answers
Excess wage tax. Excess wage tax is not an additional tax that a taxpayer may have to pay. The alternative minimum tax (AMT) is a separate tax system that imposes a minimum level of tax liability on certain taxpayers.
Self-employment tax is a tax that individuals who work for themselves must pay to fund Social Security and Medicare. Net investment income tax is a tax imposed on certain types of investment income for high-income individuals. However, there is no specific tax called "excess wage tax." It is important for taxpayers to be aware of these potential additional taxes and understand their applicability based on their income sources and circumstances.
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Cooperatives save members money by
O purchasing supplies and services as a group.
securing financing from banks as a group.
O charging more to sell their products as a group.
O sharing all profits democratically as a group.
Answers
Answer: A
Explanation: by purchasing supplies and services as a group
Cooperatives save members money by purchasing supplies and services as a group securing financing from banks as a group.
What are cooperatives?Cooperatives are a type of financial institution that is owned and run by members of the cooperative. Each member in the cooperative have equal rights and privileges.
Members in a cooperative save their money and this money is lent out to members at a low level of interest rate.
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in the past decade, the dollar value of world trade has ______.
Answers
Options for this question include:
a. Tripled
b. Remained the same
c. Doubled
d. Declined
___________________________________________________________
World trade has been on the rise in the past decade and as a result, the dollar value of world trade has c. Doubled.
Thanks to more integration, less restrictive government policy, a rise in population and standards of living, world trade has increase over the past couple of decades such that:
Trade in goods has risen from $10 trillion in 2005 to $18.8 trillion in 2019Trade in services has risen from $2.5 trillion in 2005 to $6 trillion in 2019When looking at the trade of goods, one can see that trade has almost doubled and in the case of services, close to triple.
We can therefore conclude that world trade has doubled in the past decade.
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What might be your strong points being an applicant why you assume that you will be getting the position you wanted to apply?
Brainliest will be given if answered correctly
Answers
Answer:
At some point during the interview process, you may be asked to describe your personal strengths and weaknesses. Many job candidates are unsure how to approach this question. However, by establishing the appropriate context, you can give hiring managers an honest, thoughtful answer that highlights both your self-awareness and professionalism.
Preparing ahead of time for this question is a valuable use of your time before the interview. Even if you aren’t asked about your strengths and weaknesses specifically, scripting out your response to this common question will give you a candid yet compelling description of what you bring to the table and how you wish to grow in the future. With these talking points at the ready, you’ll be able to confidently answer man
What Are Your Greatest Weaknesses?” Example
You may be asked about your strengths and weaknesses in one question or you may be asked about them in two separate questions. In the event that you are asked about strengths and weaknesses at the same time, discuss your weaknesses first so that you can end on a positive note.
When addressing your weaknesses, draw upon examples relating to either skills/habits or personality traits. You may want to choose which to focus on depending on the type of job you’re interviewing for. For example, discussing a skill/habit may be highly relevant for a technical position. For a sales or customer service role, your interviewer may be more interested in hearing about your personality traits. Neither choice is strictly wrong or right. Reread the job description for clues on what may matter most for this specific role.
The formula for your answer is easy to follow. First, state your weakness. Second, add additional context and a specific example or story of how this trait has emerged in your professional life. That context will give potential employers insight into your level of self-awareness and commitment to professional growth. In the example answers below, you’ll see the weakness followed by context sentences in italics.
importance of Technical profession
Answers
Answer:
The technical profession has always been important as it has replaced the society from nomadic to the modern era. ... The facilities of medicines, surgical works, communication, computer technology, transportation system, etc are the result of technical professions.
You are a Senior Trainer at your company. Your boss, the Training Manager has tasked you with the following.
Design and facilitate a one-day (eight-hour long) classroom experience in which you need to help develop a group of engineers and software programmers to become project managers.
After training, they will have to manage some significant projects. Discuss the instructional characteristics and activities you will use to ensure that the engineers and software programmers acquire at least a fundamental understanding of project management.
Answers
By incorporating interactive training, foundational concepts, practical exercises, role-playing, guest speakers, assessments and feedback, and follow-up support, participants can develop a fundamental understanding of project management.
How can engineers and software programmers acquire a fundamental understanding of project management during the one-day training?To ensure that the engineers and software programmers acquire a fundamental understanding of project management, the instructional characteristics and activities should be carefully designed. The following approach can be implemented:
1. Interactive Training: The training should be interactive and engaging, incorporating discussions, case studies, and hands-on activities to encourage active participation and knowledge retention.
2. Foundational Concepts: Start by introducing the foundational concepts of project management, such as project lifecycle, scope, time management, cost management, and risk management. Use clear examples and real-world scenarios to illustrate these concepts.
3. Practical Exercises: Provide opportunities for the participants to apply their learning through practical exercises. Assign them mock projects or case studies where they can practice project planning, scheduling, and resource allocation.
4. Role-Playing: Conduct role-playing exercises to simulate project management scenarios. Assign different roles within a project team and encourage participants to collaborate, communicate, and make decisions as project managers.
5. Guest Speakers: Invite experienced project managers or industry experts as guest speakers to share their insights and experiences. This will provide valuable real-world perspectives and practical tips for effective project management.
6. Assessments and Feedback: Regularly assess participants' understanding through quizzes, group discussions, or project presentations. Provide constructive feedback to reinforce learning and identify areas for improvement.
7. Follow-Up Support: Offer post-training support, such as access to resources, online forums, or mentoring, to assist participants in their transition to project management roles.
By incorporating these instructional characteristics and activities, the engineers and software programmers can develop a fundamental understanding of project management and be better prepared to manage significant projects in their roles as project managers.
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explain advertisement
Answers
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
milton friedman led a new economic school of thought called
Answers
Answer:
Friedman's economic theories became what is known as monetarism, which refuted important parts of Keynesian economics.
School: Keynesian economics
Works written: A Monetary History of the United ...
Explanation:
"A pattern day trading account has a high market value during the day of $200,000 and has a "0" position at the end of the day. The minimum maintenance margin requirement is:"
Answers
Answer:
C. $50,000
Explanation:
These are options for the question;
maintenance margin requirement is:
A. 0
B. $25,000
C. $50,000
D. $100,000
From the question, we were told that a pattern day trading account has a high market value during the day of $200,000 and has a "0" position at the end of the day.
There is a standard of minimum margin rule by FINRA for market value and this minimum margin is either the same or more than 25% , or more than a value of $25,000,
But we are given a high market value of $200,000 thenThen the minimum maintenance margin requirement is:"
$200,000 x 25%
= $200,000×(25/100)
= $50,000
Linda earns $83,000 per year as an employee. How much will she pay this year in Social Security taxes
Answers
Answer: b.$5,146.00
Explanation:
Social security tax rate is 6.20%, you would multiply $83,000 by 0.062 to get a total of $5,146
Office Manager: definition, what do they do?
And, what is the training I need to become an office manager?
Answers
Explanation:
essentially ensure the smooth the running of an office day to day basis and may manage a team of administrative or support staff
I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and we make $200,000 a year profit with me working my tail off. Our distributor, Road Runner Representatives, made over $800,000 in commissions. I don't understand why they are making all of that money when all they do is run around all day and say beep-beep to customers. I think we should lower the commission rate to bring their income down to a more reasonable level. This is an example of
Answers
Answer:
This is an example of vertical conflict.
Explanation:
A vertical conflict can be described as a conflict that occurs between two different types of members in a distribution channel - for example, a manufacturer, an agent, a wholesaler, or a retailer.
In the question the Acme enterprises which its president, Wiley Coyote, represents is the manufacturer; while their distributor is the agent. In this case, a vertical conflict is said to have occurred between the manufacturer and the agent who are both different types of members of the same distribution channel.
Therfore, this is an example of vertical conflict.
2
Goods are something you can physically touch.
A True
B
False
Answers
Answer:
True
Explanation:
Which multimedia and interactive elements do you think would best support your viewpoint on the topic you chose for your blog? Write two to four sentences explaining what multimedia and interactivity you will use and why.
Answers
Answer:
I will use images and details from credible websites, which will boost my own credibility and support my claim. I will also use charts and graphs from trusted web resources, such as government and university sites, to make my supporting evidence clear
Explanation:
I took the test
Brainiest???
The Use of videos, audios, and images in the blog will not only make it attractive but also make it credible.
Best Way to Write BlogTo write a credible and attractive blog we need to use multimedia such as videos, images, link of credible websites. We can also use other elements which can autocorrect grammer mistakes, can easily provide best charts and graphs.
The use of these elements can give a better outlook to our blog, and also create a sense of trust and credible information.
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What would be Tipical Day for a Doctor ?
Answers
Explanation:
Average 20 patients would be tipical Day for a doctor.
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In the process of mentoring, in which a more experienced employee guides and nurtures a newer, less experienced employee, it is recommended that:
a.) all senior employees in the department be assigned their turn as mentors to afford them the experience
b.) at the start of the relationship a specific length of time for the mentoring to last is established
c.) the manager closely monitors the mentor's behavior during the relationship
d.) mentors should serve voluntarily and willingly without being required to do so
Answers
Mentoring is the process by which a more experienced employee guides and nurtures a newer, less experienced employee. The process of mentoring provides an opportunity for an experienced employee to share knowledge and skills with less experienced ones.
It is recommended that mentors should serve voluntarily and willingly without being required to do so. The process should be an opportunity for the mentor to develop their skills, and therefore it should be voluntary.
The process of mentoring should also be a two-way street, where both parties gain valuable experiences from one another.
At the start of the relationship, a specific length of time for the mentoring to last is established to help both parties prepare for the mentoring period.
The relationship should be nurtured and monitored by the manager, but the mentor should be free to take responsibility for the mentoring process.
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Fanal has insured his vehicle with AXA insurance company. Throughout the year he expenences a loss in January costing 1241, another in May costing 2000 and the in December costing 1734 If Faisal has an aggregate deductible of 2986 How much will the insurer pay?
Answers
The insurer will pay $1989..e need to consider the deductible and the total losses experienced by faisal.
To calculate how much the insurer will pay, we need to consider the deductible and the total losses experienced by faisal.
the deductible is the amount that faisal needs to cover himself before the insurance company starts paying. in this case, the deductible is 2986.
faisal's total losses throughout the year are as follows:
january loss: $1241
may loss: $2000
december loss: $1734
to calculate the amount the insurer will pay, we need to subtract the deductible from the total losses:
total losses = january loss + may loss + december loss
total losses = $1241 + $2000 + $1734
total losses = $4975
now, we subtract the deductible from the total losses to find the amount the insurer will pay:
insurer payment = total losses - deductible
insurer payment = $4975 - $2986
insurer payment = $1989
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the long-run average cost curve defines the minimum average cost of producing alternative levels of output, allowing for optimal selection of multiple choice fixed factors of production. only one factor of production. all factors of production. sunk cost factors of production.
Answers
The long-run average cost curve defines the minimum average cost of producing alternative levels of output, allowing for optimal selection of all factors of production.
Long run cost is the minimal cost of producing any given level of output when all individual factors are variable. The long run cost curve helps us understand the functional relationship between out and the long run cost of all factors of production.Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.Thus, option (c)all factors of production is correct.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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