Most businesses aim to operate at its profit-maximizing level at all times, but many factors make this nearly impossible. For instance, if they are short on workers they wouldn't be able to maximize profits.
A single firm supplies all the output
increase output
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
Monopolistic competition refers to the the exclusive possession or control of the supply or trade in a commodity or service.
Yes public education is a natural monopoly because it is a market that runs most efficiently when 1 large firm supplies all of its output.
A single firm supplies all the output
increase output
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
Monopolistic competition refers to the the exclusive possession or control of the supply or trade in a commodity or service.
The rule is what actions (operations) the function performs. The only requirement is that for each imput there is an output and that the same input always results in the same output. (Different inputs can have the same output).
The binary AND operation has two inputs and one output.The binary AND operation will always produce a 1 output if both of its inputs are 1 and will produce a 0 output if one or both of its inputs are 0.In binary20013 = 100111000101101222692 = 110110010111100100When you perform an AND on these you get17444 = 100010000100100
Yes public education is a natural monopoly because it is a market that runs most efficiently when 1 large firm supplies all of its output.
could be canvas Answer 2: No, sorry, their output is the works they produce.
They produce at a different point than a competitive firm, a monopoly produces at a point where marginal revenue= marginal cost, where a competitive firm equates price to marginal cost. The marginal cost curve is lower than the demand curve, but the monopoly charges the price at the demand curve, which is a higher price and a lower quantity than a competitive market would produce.
The output of a computer can be purely visual, in which case the output device is a monitor, or it can be printed, in which case the output device is a printer; when computers produce sound, the output device is a speaker.
a natural monopoly
natural monopoly =)