Question

Which of the following is not an example of the three basic strategies to creating economic...

Which of the following is not an example of the three basic strategies to creating economic profits that are outlined in a text?

Concealing information from customers

Reducing competition in the market

Differentiating the product

Finding ways to reduce costs
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer : The answer is option A.

When competition decrease then the demand for good in a market increase which increase the economic profit of firm.

When products are differentiated in a market then the demand for differentiated products increase which increase the economic profit of firm.

When cost level decrease then profit level increase for firm.

Therefore, only option A is not a basic strategy to make the economic profit. Hence option A is the correct answer.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which three of the following constitutes a new entry?        creating a new organization    ...
Which three of the following constitutes a new entry?        creating a new organization         offering a new product to an established or new market         Adopting new technology         Encounter with new competitors         offering an established product to a new market,         New business strategies and goals
40. Which of the following is a typical example of monopolistic competition? a.a chain restaurant b.an...
40. Which of the following is a typical example of monopolistic competition? a.a chain restaurant b.an apple orchard c.a wheat farm d.an electricity company 41.What are the three basic characteristics of monopolistic competition? a.product differentiation; many sellers; free entry b.product differentiation; few sellers; difficult entry c.identical product; few sellers; difficult entry d.identical product; few sellers; free entry 42.If total revenue is less than total costs at q*, the firm is ______. a.making zero economic profits b.making economic profits c.earning a...
Which of the following in NOT one of the three components of a basic theory of...
Which of the following in NOT one of the three components of a basic theory of music instruction? Select one: a. Learning processes of the child learner, including attention, perception, memory, rehearsal, and recognition and recall. b. Enculturation, the process whereby individuals learn their group's culture, through experience, observation, and instruction. c. Instruction, a set of events provided by the teacher. d. Learning outcomes in the form of a child's demonstration of verbal information, intellectual skills, motor skills, cognitive strategies,...
Which of the following is an example of subjective measurement? Economic conditions of the city where...
Which of the following is an example of subjective measurement? Economic conditions of the city where a branch is located Employee turnover Branch profits Defect rates None of the above
1. A monopoly is best defined as a firm doing which of the following? A. Selling...
1. A monopoly is best defined as a firm doing which of the following? A. Selling a product for which there are no close substitutes B. Making short-run economic profits C. Having a degree of market power D. Having a downward-sloping demand curve 2.What is assumed to be the monopoly firm’s underlying objective? A. To charge the highest price possible B. To produce as little as possible C. To maximize profits D. To force competition out of business 3. When...
1. Achieving economic efficiency requires markets to be properly structured. Which of the following is NOT...
1. Achieving economic efficiency requires markets to be properly structured. Which of the following is NOT part of the ideal market structure? a lack of competition between firms consumers have access to good information about all products business have good information about their customers prices accurately reflect a product's value 2. Short-run fluctuations are temporary movements of output away from the long-run trend of output that are sometimes called business cycle movements that are called recessions when output declines below...
Which of the following statements about pricing strategies is false? Value-based pricing is the reverse of...
Which of the following statements about pricing strategies is false? Value-based pricing is the reverse of cost-based pricing. Cost-based pricing relies on consumer perception of value to drive pricing. Pricing a product mix is often difficult because various products have related demand and costs, and they face different degrees of competition. Major price-adjustment strategies include discount and allowance, segmented, reference, psychological, promotional, geographical, dynamic, and international pricing.
Which of the following is not a common element of successful strategies? Clear, consistent and long-term...
Which of the following is not a common element of successful strategies? Clear, consistent and long-term goals Profound understanding of the natural environment Objective appraisal of resources Effective implementation 2. Patagonia’s mission statement of ‘Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis’ can be used as an example of which of the following reasons why firms need strategy: Strategy as a decision support Strategy as a target Strategy as...
QUESTION 26 Which of the following is an example of a physical resource? restructuring efforts strategies...
QUESTION 26 Which of the following is an example of a physical resource? restructuring efforts strategies experience of top managers None of the above 1 points    QUESTION 27 Which of the following is an example of an organizational resource? experience strategies employee knowledge & skills None of the above 1 points    QUESTION 28 Which of the following is not a category of firm resources? organizational resources physical resources human resources All of the above are categories of firm...
True/False Indicate whether the statement is true or false. ____     1.   The basic disadvantage of a...
True/False Indicate whether the statement is true or false. ____     1.   The basic disadvantage of a proprietorship is unlimited liability. ____     2.   An investor will diversify his portfolio to reduce risk. ____     3.   Investors must rely on stockbrokers to give detailed, day-to-day reports on stocks and bonds. ____     4.   One effect of speculators is to iron out price fluctuations because this is the way they make their profits. ____     5.   A perfectly competitive firm's short-run supply is infinite at the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT