The Figure Given Below Shows the Aggregate Demand and Supply

question 46

Multiple Choice

The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7

-Which of the following is true under monopoly?

• A)Price is equal to marginal revenue.
• B)Price is equal to marginal cost.
• C)Price is less than marginal revenue.
• D)Price is less than marginal cost.
• E)Price is greater than marginal revenue.

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Definitions:

Organization Anticipates

The process by which organizations attempt to foresee future challenges or opportunities and prepare accordingly.

Retrenchment

A retrenchment or turnaround strategy occurs when an organization finds that its current operations are not effective, and major changes are usually needed to rectify the problem. In most cases, this strategy involves rightsizing the organization by closing operations, shutting down factories, and terminating employees in order to get back on the right track.

Executive Succession

Involves systematically planning for future promotions into top management positions.

Development Costs

Expenses associated with the development of new products, services, or processes.