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What is the definition of competitive supply?
list examples of competitive supply
What happens to prices in a free competitive market?
In a free competitive market, prices are determined by supply and demand. When demand for a product or service is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This dynamic process of supply and demand helps to ensure that prices in a free competitive market are set at a level that reflects the true value of goods and services.
What is equilibrium price in economics?
It is the price where demand equals supply in a competitive market.
How is a perfectly competitive firms marginal cost curve related to its supply curve?
a perfectly competitive firms supply curve will be the portion of the marginal cost curve which lies above the average variable cost curve (AVC)..this will be due to the firms unwillingness to supply below the price in which they could cover their variable costs
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
What is the definition of competitive supply?
list examples of competitive supply
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.
What competitive advantages can a lean supply strategy confer on the manufacturing industry?
What competitive advantages can a lean supply strategy confer on the manufacturing industry? Explain in detail how these advantages are secured and maintained.
What happens to prices in a free competitive market?
In a free competitive market, prices are determined by supply and demand. When demand for a product or service is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This dynamic process of supply and demand helps to ensure that prices in a free competitive market are set at a level that reflects the true value of goods and services.
What is equilibrium price in economics?
It is the price where demand equals supply in a competitive market.
Strategic fit in supply chain management?
Strategic Fit meansthat both the Competitive and Supply Chain Strategies have algned goals. It also refers to the consistency between the customer priorities that the Competitive strategy hopes to satisfy and the Supply chain capabilities the Supply chain strategy aims to build. For an example IKEA and Walmart
How have recent advances made supply chain information technology systems more effective?
the recent advancements made in the IT systems help the companies to get the visibility in the supply chain and to communicate with supply chain partners instantly in oredr to keep their supply chain very competitive. the recent advancements made in the IT systems help the companies to get the visibility in the supply chain and to communicate with supply chain partners instantly in oredr to keep their supply chain very competitive.
A firm operating in a purely competitive resource market faces a resource supply curve that is?
B. Perfectly elastic This is because it is operating in a perfect competitive market
How is a perfectly competitive firms marginal cost curve related to its supply curve?
a perfectly competitive firms supply curve will be the portion of the marginal cost curve which lies above the average variable cost curve (AVC)..this will be due to the firms unwillingness to supply below the price in which they could cover their variable costs
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
What is Demand and supply curve?
A demand and supply curve is used in economic to show that in a competitive market, the price of a product will vary depending on the need of the consumers.
What is a demand and supply curve?
A demand and supply curve is used in economic to show that in a competitive market, the price of a product will vary depending on the need of the consumers.
