Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
Answer The answer is between one of the following.... Consumer demand grows New firms reconstruct the industry Differences between segments grow larger The focus strategy is imitated
A firm generally thought of as one company. An industry is a generalization for the type of business in which a company engages. For example, General Motors is a company that builds cars. Automobile manufacturing is the industry.
Market power refers to an extent to which a firm can raise the market price of a good or service over its demand, supply or both. Generally, it refers to the amount of influence, which a firm has on the industry in which it operates.
perfectly competitive industry become a monopoly, what changes
•Technical efficiency. A firm (or industry) products at lowest point where AC crosses MC.•Allocativeefficiency. P = MC = MR. Satisfaction is represented by demand curve. DD = SS. Equilibrium.
A firm is an entity where as an industry is a group of firms.
It is the demand for specific goods/services of a firm. Due to differentiation of goods in the industry.
An industry is a type of business in the economy while a firm is a unit or entity carrying a portion of the business in an economy.
a firm is a business unit that operates under a single management. while industry is a group of firm that produce similar products for the same market.
Answer The answer is between one of the following.... Consumer demand grows New firms reconstruct the industry Differences between segments grow larger The focus strategy is imitated
Distinction between firm & industry disappears
A firm generally thought of as one company. An industry is a generalization for the type of business in which a company engages. For example, General Motors is a company that builds cars. Automobile manufacturing is the industry.
It is very important to economy development.
Market power refers to an extent to which a firm can raise the market price of a good or service over its demand, supply or both. Generally, it refers to the amount of influence, which a firm has on the industry in which it operates.
Demand is unit elastic.
The market demand gives the total quantity demanded by all consumers. The individual demand is the demand of one individual or firm.
•Technical efficiency. A firm (or industry) products at lowest point where AC crosses MC.•Allocativeefficiency. P = MC = MR. Satisfaction is represented by demand curve. DD = SS. Equilibrium.