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Monopolistically competitive firms may not be able to produce goods at the lowest possible average cost. This statement is describing how monopolistically competitive firms might be?
without economies of scale
Is a Monopolistically competitive firm productively efficient?
No because it does not produce at minimum average total cost
Which economic question should Jordan answer when deciding where to place his lemonade stand?
For whom to produce?
What factors prevents private companies from deciding to produce public goods?
The profit motive
The process of deciding the best way to use an organization's resources to produce goods and services is known as?
management
Monopolistically competitive firms may not be able to produce goods at the lowest possible average cost. This statement is describing how monopolistically competitive firms might be?
without economies of scale
Is a Monopolistically competitive firm productively efficient?
No because it does not produce at minimum average total cost
Which economic question should Jordan answer when deciding where to place his lemonade stand?
For whom to produce?
What factors prevents private companies from deciding to produce public goods?
The profit motive
The process of deciding the best way to use an organization's resources to produce goods and services is known as?
management
What does competitive advantage have to do with business process analysis?
Examining your business processes to ensure that they are efficient will help you get a competitive edge. The faster your machines are able to produce products, the faster consumers will have them; this gives the business a competitive advantage.
What is the Difference between competitive and comparative advantage?
Competitive advantage: ability to produce a unit for strictly less cost than someone else. Comparative advantage: ability produce a unit for less opportunity cost than someone else.
What factors need to be considered when deciding how to produce a document for a specific purpose?
i dont know but it could be newton meter
What is an economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume?
Externality is the economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to consume/produce.
When trying to decide what to produce businesses will lok at the demand for their goods?
Businesses will look at the demand or potential demand for their goods when deciding what to produce. They will consider both immediate and future demand.
How does business to be successful it must produce quality products operate efficiently and be what?
Quality consceous and competitive.
What is the meaning of competitive supply mean?
Competitive supply is supplies that could be produced using the same equipment that you use to produce another supply. For example, spaghetti and meatballs are competitive supply with lasagna, because they are made with the same ingredients.
