In a monopolistically competitive industry, when a business faces a ________ demand curve, it will choose a combination of quantity and ________ to maximize its profit.

Answers

Answer 1

In a monopolistically competitive industry, when a business faces a downward sloping demand curve, it will choose a combination of quantity and price to maximize its profit.

What is monopolistically competitive industry?

A monopolistically competitive industry can be defined as the industry that are competitive and  have many companies that sell products that are similar in which the product on the other hand are not perfect substitutes.

Hence, in a situation where a business faces a downward sloping demand curve, this means that the business will tent to go for a  combination of quantity with  price so as to maximize its profit.

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Related Questions

Availability of a qualified workforce is determined mainly by ecological factors.

a. True
b. False

Answers

It is false that availability of a qualified workforce is determined mainly by ecological factors.

What are ecological factors?

These are environmental factors such as temperature, water, soil, wind, that have effect on living beings hence cause changes in habitats.

Examples of ecological factors are:

Air,Water,ClimateSoilNatural vegetation

In the light of the above, we can conclude that availability of a qualified workforce is not determined mainly by ecological factors.

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The economy of finlandia is at full employment when

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The economy of Finlandia is at full employment when there is some unemployment due to friction in the labor​ market, but there is no cyclical unemployment.

The Finnish economy is a highly industrialized mixed economy, with per capita production similar to that of Western European economies such as France, Germany and the United Kingdom. The largest sector of the Finnish economy is 72.7% service, followed by 31.4% manufacturing and refining.

Finland's economic freedom score is 78.3. That economy is the ninth free in the 2022 index. Finland ranks 6th out of 45 countries in Europe, with an overall score above the regional and global averages. Finland's economic growth turned negative in 2020, but recovered in 2021.

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Intuitive decision making uses ____ to make decisions

Answers

Answer:

Judgment.

Explanation:

Intuitive decision making uses ____ to make decisions. Judgment.

Intuitive decision making uses judgement to make decisions. Correct answer is judgement.

What do you mean by Decision?

Process of deciding is known as decision.

Rational decision-making is based on reasoning, evidence, and facts. Choosing among possibilities without using logic or analysis is what intuitive decision-making entails. It entails making decisions based on emotions or inadvertently recalling a memory.

Using your instincts to guide your decision-making is part of the intuitive paradigm. When the team is knowledgeable about the topic, this model is suitable. Generally speaking, it is less organized than other models and depends on team members using prior knowledge to spot patterns and use related solutions.

Therefore, Judgement is used to make decision in Intuitive decision making.

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Taxes placed on imports to protect domestic producers from foreign competition and to produce revenue for the government are Blank______.Multiple choice question.embargoesincometariffsquotas

Answers

Taxes placed on imports to protect domestic producers from foreign competition and to produce revenue for the government are tariffs.

Tariffs are taxes imposed by using one us on goods or services imported from another United States of America. Price lists are alternate limitations that increase expenses and reduce available quantities of products and offerings for U.S. organizations and customers.

Common types of tariffs are given below.

Specific tariffs.Ad valorem tariffs.Licenses.Import quotas.Voluntary export restraints.Local content requirements.

A tariff is a tax imposed by using a government on items and services imported from other countries that serve to grow the fee and make imports much less perfect, or as a minimum much less competitive, as opposed to domestic items and offerings.

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