compared to other market structures, which of the following are properties of a perfectly competitive market, and which are not?

Answers

Answer 1

Answer:

Characteristics of a market with perfect competition is,

Many buyers and vendors: In a market that is totally competitive, multiple buyers and sellers, but none of them can affect the product's price. Products supplied in a market are all homogeneous, meaning they are all the same or very similar.

Perfect information: In an equilibrium price, all market participants have similar capabilities about the market, particularly product costs, standards, and availability.

No entrance or exit barriers: In a market with perfect competition, new firms can enter the market with ease and evolving firms can depart the market with ease and without incurring major expenses, buyers and sellers have little power to alter prices.

Characteristics not of a market with perfect competition:

Lack of product differentiation is necessary for perfect competition. Companies operating in other market configurations may distinguish their goods through distinctive branding or design elements.

Market power is absent . Organizations may have some level of market government and be able to affect prices in various market arrangements.

Long-term balance: Perfect competition results in long-term economic profits for businesses of zero. With alternative market configurations, businesses may experience long term economic gains.

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A market structure with a large number of sellers who make differentiated products is called _____.perfect competition monopolistic competition oligopoly
Paul Solomon is the owner of Solly's, an upscale restaurant in Tampa, Florida. Each year, Paul spends about $150,000 in advertising. As this year's ad budget decision must be made, Paul decides that he wants to know just how good his advertising dollars are working for him. He hires Getty Research Associates who recommend that he establish a baseline of awareness. Getty recommends a TOMA study which stands for Top-of-Mind-Awareness. TOMA studies consist of taking a probability sample of the population and asking respondents to name the first three "insert type of business here." Obviously, for Solly's, Getty would be asking respondents to name the top three restaurants in the area. The percentage of respondents that named Solly's would be a baseline measure of awareness, and future promotions could be evaluated in terms of whether or not they increased awareness. While Paul was intrigued with online surveys because they were fast and less expensive, Getty recommended a traditional telephone survey using the local Tampa directory. Getty also explained to Paul that "Plus One dialing" could be used to ensure that unlisted numbers were included. Though the directory was quite large and no electronic version was available, Getty felt they could efficiently draw the sample using a:A) simple random sampleB) judgement sampleC) stratified sampleD) cluster, area sampleE) systematic sample
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How long would it take for the price level to double if inflation persisted at the following percentages?

Which section of a company promotes the business?a. Production
b. Finance
c. Customer service
d. Marketing

Answers

The right answer for the question that is being asked and shown above is that: "d. Marketing." The section of a company promotes the business is that of Marketing. They are responsible to whatever undertaking that they will do in order to promote the product or the business.

Advice Florence and her team on how they can convince the staff using john kotter's theory to lead change

Answers

John Kotter’s theory for leading can help business staffs to improve their performance especially in completing assignments and improving teamwork. His theory centers on eight steps:

1. Creating urgency to spur change.

2. Forming a powerful coalition from people of diverse talents.

3. Make a vision of change that would inspire and rally your group.

4. Communicate that vision so that all of you understand what needs to be done.

5. Remove obstacles that would impede your goals.

6. Create short-term wins that would help in the short run but will contribute in the long run.

7. Build on change while the momentum is there.

8. Anchor that change as a model for others to follow.

______ ensures fair competition by preventing those who would deceive consumers from diverting trade from those who compete honestly. a) Monopoly b) Regulation c) Antitrust law d) Market competition

Answers

Answer:

The correct answer is c) Antitrust law. Antitrust laws are in place to prevent unfair competition practices and maintain a level playing field in the market. These laws aim to prevent monopolies, regulate mergers and acquisitions, and prohibit anti-competitive behavior such as price fixing and collusion. By enforcing antitrust laws, authorities ensure that consumers have access to a competitive marketplace and that businesses compete fairly.

A bakery invests a portion of profits into sending its employees to a training on how to use more energy-efficient ovens that also can hold more baked goods. What goal is the bakery hoping to achieve by investing in the training?A. increase in productivity
B. increase the goodwill of employees
C. better use of space
D. replace its ovens

Answers

Option A. increase in productivity

Answer:

It would be A

Explanation: If it trains more employees efficiently, then it would increase in productivity!

Provide evaluation of one appropriate analysis tool and onemethod thet might be applied by organisations to recognise and
diagnose current and future issues, challenges and
opportunities. (AC 1.2) Evaluate a range of analysis tools and methods including how they can be applied to diagnose organisational issues, challenges and opportunities. (AC1.2) Short references should be added into your narrative below. Please remember to only list your long references in the reference box provided at the end of this section. Wordcount: Approximately 400 words. Type here...

Answers

One appropriate analysis tool that organisations can use to recognise and diagnose current and future issues, challenges, and opportunities is SWOT analysis.

What is SWOT analysis?

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis can help organisations to identify their internal strengths and weaknesses and external opportunities and threats, which can guide them in making informed decisions about strategy, resource allocation, and risk management [1].

Another method that organizations can use to diagnose issues, challenges, and opportunities is environmental scanning. Environmental scanning involves monitoring and analysing the internal and external environments of an organisation to identify emerging trends, opportunities, and threats [2].

Environmental scanning can help organisations to stay informed about changes in their industry, technology, legal, political, economic, and social environments, which can affect their performance and competitiveness.

References:

Kotler, P., & Armstrong, G. (2018). Principles of marketing. Pearson.

Aguilar, F. J. (1967). Scanning the business environment. Macmillan.

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Apple computer's "smart team" is an example of a firm that succeeded by:

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It seems that you missed the given choices for this question, but anyway, the answer that would best complete the given statement above is "bringing together a group of talented and experienced managers to conceive, develop, and market products." Apply computer's "smart team" is an example of a firm that succeeded by bringing together a group of talented and experienced managers to conceive, develop, and market products. Hope this answer helps.

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Marilyn has a biweekly gross pay of $810 and claims 3 federal withholding allowances. Marilyn has all of the following deductions from her gross pay:federal tax from the following tableA 9-column table with 7 rows is shown. Column 1 is labeled If the wages are at least with entries 720, 740, 760, 780, 800, 820, 840. Column 2 is labeled But less than with entries 740, 760, 780, 800, 820, 840, 860. Column 3 is labeled And the number of withholding allowances is 0, the amount of income tax withheld is, with entries 80, 83, 86, 89, 92, 95, 98. Column 4 is labeled And the number of withholding allowances is 1, the amount of income tax withheld is, with entries 62, 65, 68, 71, 74, 77, 80. Column 5 is labeled And the number of withholding allowances is 2, the amount of income tax withheld is, with entries 44, 47, 50, 53, 56, 59, 62. Column 6 is labeled And the number of withholding allowances is 3, the amount of income tax withheld is, with entries 26, 28, 31, 34, 37, 40, 43. Column 7 is labeled And the number of withholding allowances is 4, the amount of income tax withheld is, with entries 14, 16, 18, 20, 22, 24, 26. Column 8 is labeled And the number of withholding allowances is 5, the amount of income tax withheld is, with entries 1, 3, 5, 7, 9, 11, 13. Column 9 is labeled And the number of withholding allowances is 6, the amount of income tax withheld is, with entries 0, 0, 0, 0, 0, 0, 1.Social Security tax that is 6.2% of her gross payMedicare tax that is 1.45% of her gross paystate tax that is 21% of her federal taxDetermine how Marilyn’s net pay will be affected if she increases her federal withholding allowances from 3 to 4.a.Her net pay will increase by $15.00.b.Her net pay will decrease by $15.00.c.Her net pay will increase by $18.15.d.Her net pay will decrease by $18.15.