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Industry economic characteristics and business strategies introduction
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- The "Core Business" means the products and markets that a firm dealt with at the time of start-up. True Falseich of the following internal factors can expand existing challenges or simply add more constraints to an organization's selection strategy? Multiple Choice labour market realities organizational policies organization's life cycle stage job requirements calibre of employeesSuppose that you want to open a new business or purchase an existing one. Describe that business. What good or service would you provide? Where would you be located? What would be some explicit costs of starting the business? What would be some implicit costs?
- The level of output at which average total costs equal áverage revenue or market price is: (a) The shut down output LTH€ breakeveni output O The marginal physical product (d) The marginal value productPOLICY PERSPECTIVES Adam Smith in The Wealth of Nations asserted that the pursuit of self-interest by competitive firms promoted the interests of society. What did he mean by this?Until what a firm should continue to increase its production in order to maximize profit? a) Total revenue equals total cost b) Profits are zero c) Marginal revenue equals marginal cost d) Average cost equals average revenue
- Research an instance of an actual firm that has been engaged in cost-cutting measures. What actions specifically are being taken and considered? Has the cost-cutting been effective? Cite the source of your information.What are the differences and similarities of Cooperatives in India, Germany ,and Japan in terms of structures, administration, management and economic impact?Assume that the purely competitive firm operates as described below: Q TFC TVC TC AC MC P TR MR Profit 0. 3. Graph TR and TC for the firm 2 8. 4 11 15 21 30 8 42 9 60 10 85 (a) Complete all the cost columns. (b) Assume price = $5. Complete the rest of the table. (c) Graph TR and TC on the graph up and to the right. (d) For the market graph below on the right, label demand, supply and the prevailing market price. Label the equilibrium market quantity with q*. (e) For the firm graph below to the left, label the axis. PLOT USING THE DATA IN THE TABLE the demand curve the firm faces, the marginal revenue curve, the average cost curve, the marginal cost curve, and the equilibrium price, quantity. Show the profit. Do all the plots give you the same answer? 6,
- Give some examples of the term Mixed Costs?Answering all optionThe firm's information system: A. may include other information such as customer satisfaction surveys, in addition to financial information none of the answers are correct c is always a single integrated system D. includes only financial information Е. is less important as a firm grows in size B.
