Suppose there are two duopoly firms that compete in one period only. The market demand function is P = 1 – Q. Marginal cost = c and is the same for both firms.
i) If the firms compete in price, determine the equilibrium price and output for each firm.
ii) In your opinion, is the outcome as in your answer in part i) is expected in the
real world? Explain.
Answers
i) The equilibrium price is 1/2, and the equilibrium output for Firm 1 is 1/3, while the equilibrium output for Firm 2 is 1/6.
ii) In the real world, the outcome as described in part i) may not always be expected.
i) If the duopoly firms compete in price, we can determine the equilibrium price and output for each firm using the Cournot-Nash equilibrium concept.
In this case, we have two firms, so each firm's decision will affect the other firm's profit. Let's assume the firms are labeled as Firm 1 and Firm 2.
Determine the Reaction Function:
Each firm will try to maximize its profit by considering the other firm's behavior. The reaction function shows how each firm's quantity choice depends on the other firm's quantity choice.
Since the firms compete in price, we can express the reaction function in terms of quantity (Q) as follows:
For Firm 1:
Q1 = (1 - Q2) / 2
For Firm 2:
Q2 = (1 - Q1) / 2
Equate the Reaction Functions to find the Equilibrium:
To find the equilibrium, we set the reaction functions equal to each other and solve for the quantity:
Q1 = (1 - Q1) / 2
Simplifying the equation:
2Q1 = 1 - Q1
3Q1 = 1
Q1 = 1/3
Substituting Q1 into either of the reaction functions, we can find Q2:
Q2 = (1 - 1/3) / 2
Q2 = 1/6
Calculate the Equilibrium Price:
Since the market demand function is P = 1 - Q, we can substitute the equilibrium quantity (Q1 + Q2) into the demand function to find the equilibrium price (P):
P = 1 - (1/3 + 1/6)
P = 1 - 1/2
P = 1/2
Therefore, the equilibrium price is 1/2, and the equilibrium output for Firm 1 is 1/3, while the equilibrium output for Firm 2 is 1/6.
ii) In the real world, the outcome as described in part i) may not always be expected. The assumptions made in the Cournot-Nash equilibrium model, such as perfect competition and symmetric firms, may not hold in reality. There are several factors that can affect the outcome in the real world, including market power, product differentiation, strategic behavior, and market dynamics.
In practice, firms may employ various strategies beyond simple price competition, such as product differentiation, advertising, and innovation, to gain a competitive advantage. Additionally, the market demand function may be influenced by factors like consumer preferences, substitutes, and complements, which can further complicate the equilibrium outcome.
Overall, while the Cournot-Nash equilibrium provides valuable insights into strategic interactions between firms, the real world is often more complex, and the outcome may deviate from the simple model predictions due to various market dynamics and strategic considerations.
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Related Questions
How is the focus group discussion (POD) used as a method of generating ideas?
Answers
Answer:
In a focus group, a moderator leads a group of people through an open, in-depth discussion rather than simply asking questions to solicit participant response. For a new product area, the moderator focuses the group discussion in either a directive or a nondirective manner.
How much will we end up buying?
Answers
The December 31, current year, bank statement for Rivas Company and the December current year ledger accounts for cash follow.
The November current year bank reconciliation showed the following: correct cash balance at November 30, $ 64,100 ; deposits in transit on November 30, $ 17,000 ; and outstanding checks on November 30, $ 400+ $ 500 = 900
Required:
(a) Compute the deposits in transit December 31, current year, by comparing the deposits on the bank statement to the deposits listed on the cash ledger account and the list of deposits in transit at the end of November.
Answers
The deposits in transit for December 31, current year, amount to $28,000.
The deposits in transit for December 31, current year, can be computed by comparing the deposits on the bank statement to the deposits listed on the cash ledger account and the list of deposits in transit at the end of November.
To calculate the deposits in transit, we need to consider the deposits that were recorded in the cash ledger account but have not yet appeared on the bank statement as of December 31.
Let's assume that the deposits listed on the bank statement for December 31 are $20,000.
We subtract the deposits in transit on November 30 ($17,000) from the correct cash balance at November 30 ($64,100). This gives us the adjusted cash balance at November 30, which is $47,100 ($64,100 - $17,000).
Next, we add the outstanding checks on November 30 ($900) to the adjusted cash balance at November 30. This gives us the adjusted cash balance after considering outstanding checks, which is $48,000 ($47,100 + $900).
Finally, we subtract the adjusted cash balance after considering outstanding checks from the deposits listed on the bank statement for December 31. This gives us the deposits in transit for December 31, which is $28,000 ($20,000 - $48,000).
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Ivie Clarke has decided to launch a numbers game like Sudoku. She estimates her fixed costs to be £5,000. The variable costs are £1.20 per game. She intends to sell the games for £5.00 each. Ivie estimates she will sell 1,400 games a month. 7 (a) What is her total revenue if she sells 1,400 games? (1) (b) What are her total costs if she sells 1,400 games?(1) (c) How much profit does she make if she sells 1,400 games?(1) 8 How many games does she need to sell to cover her total costs?(1) 9 In fact the fixed costs of the business were actually £5,500. How much profit or loss would Ivie make if she sold 1,400 games. (2)
Answers
Her total revenue if she sells the 1,400 games of the numbers game is £7,000.
What is revenue?The average sales price is multiplied by the quantity of units sold to arrive at revenue, which represents the money generated by normal business operations. Net income must be deducted from the top line (or gross sales) figure in order to be calculated. In the salary summary, revenue and sales are synonymous. To determine how effectively a business collects unpaid debt, it is critical to review the cash flow summary. Cash accounting, in comparison, only records purchases as revenue when actual money changes hands. "Receipt" is the term used to describe money provided to a business. For receipts to show, income is not necessary. For instance, there will be a receipt but no income from a customer who pre-paid for a service or goods that were never delivered.
Ivie's total revenue if she sells the 1,400 games is:
Revenue = Price per game x Number of games sold
Revenue = £5.00 x 1,400
Revenue = £7,000
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assume one of the public schools is privatised. what are the advantages and disadvantages of privatising the school
Answers
Answer:
Advantages:-
1.Reduced political disturbances.
2.Proper facilities
3.The discipline in student is maintained .
4.Students can get proper guidance from teachers.
Disadvantages:-
1. Fee may be increased.
2.The services may lack which was given by government funds.
3.It may cause problem to poor students from poor family.
4.Public holidays is decreased.
Select the correct text in the passage.
Which sentence in the passage is true for brokers in the distribution process?
Brokers help strike a deal between the producer and the retailer, or the producer and the wholesaler. They also facilitate the logistics function
of storing goods at a suitable location. They purchase goods and stock them until they are sold to the retailer.
Reset
Next
Answers
Answer:
The answer is "Brokers help strike a deal between the producer and the retailer, or the producer and the wholesaler"
Strategies for managing conflict
Answers
Can I get a brainest point plsssssss
1. Don't Ignore Conflict
If you're someone who dislikes dealing with conflict, it might seem tempting to just put your head in the sand and pretend it doesn't exist, hoping it will resolve itself on its own. While this sometimes can happen, the truth is that the vast majority of the time, this will only cause the situation to get worse. Ignored conflicts have a tendency to fester over time and reappear at inopportune moments, so do your team a favor and address conflicts when they occur, nipping a potentially toxic situation in the bud as soon as you recognize it.
2. Clarify What the Issue Is
If you're dealing with a conflict between two members of your team, it's important that you get all the facts. Sit down with each individual involved and find out exactly what the issue is. How is each individual perceiving the situation? What needs are not being met? What does each party see as an appropriate resolution? Make sure that all parties involved understand that you are acting as an impartial mediator, and let them know they can feel comfortable to share sensitive information.
3. Bring Involved Parties Together to Talk
Once you've had a chance to talk to all involved parties separately, bring them together in a meeting so that they can hash out their differences in a neutral environment. This is a time for brainstorming, active listening, and being open to different perspectives - the goal is to come to a common understanding of what the problem is, what role each individual is playing in the conflict, and what some possible solutions might be.
4. Identify a Solution
After both parties have had a chance to discuss the situation at hand, it's time to identify what a satisfactory resolution might be - and how to get there. Ideally, by this point, both parties will understand the other's side, and oftentimes the conflict will be resolved just through facilitated, open dialogue. However, if the situation requires further resolution, you will need to step in and help them negotiate a reasonable solution. This phase can require some time and effort, as it requires both parties to set aside their differences and preferences and find some common ground to work towards (which may involve not getting everything they want out of the situation). Then, work with both individuals to come up with a concrete list of steps that will result in the solution being achieved.
5. Continue to Monitor and Follow Up on the Conflict
Just because a solution has been identified and addressed doesn't mean it will just go away. As a manager, it's your responsibility to check in with both parties to ensure that the conflict has truly been dealt with, and that the steps identified to reach a solution are being followed. If all seems to be going well, simply remember to stop and observe from time to time, just to see if things really are going smoothly or if there are still lingering tensions under the surface that need to be handled. If it's clear that the solution didn't work, or wasn't the right resolution for the situation, make sure to be proactive in working with both parties to readjust expectations, identify alternative solutions, and continue their dialogue to create a positive and healthy work environment.
Sen Corp., a publicly-traded, mid-cap company, wanted to obtain $30 million in new capital to expand its Iowa plant. Cost of capital was a factor in making the decision. Sen Corp. could either issue new preferred stock or new debentures. Sen Corp.'s underwriter estimated that preferred stock should have an annual dividend payout of $6 and an issue price of $103 per share. The debentures should have a coupon interest rate of 9% and an issue price of $101. Sen Corp.'s marginal income tax rate was 40%.
Required:
What approaches describes Sen Corp.'s best strategy?
Answers
Based on the information given, the approach that describes the strategy that was used by the company is that Sen Corp. should issue the debentures since the after-tax cost of debt (5.347%) would be less than the cost of equity (5.825%).
A debenture simply refers to the rule of bond that's unsecured by collateral. Debentures typically rely on the reputation of the issuer.
From the complete information, the company wants to obtain $30 million in new capital to expand its plant. Therefore, it's appropriate to issue the debentures since issue the cost of equity is more than the after-tax cost of debt.
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Opportunity Costs Are The Additional Or Incremental Revenues Generated By Selecting A Certain Course Of Action. True or false?
Answers
False. Opportunity costs refer to the potential benefits or values that are forgone or sacrificed when choosing one course of action over another. It is not about additional or incremental revenues generated by selecting a certain course of action. Instead, opportunity costs represent the value of the next best alternative that is foregone when a decision is made.
In simpler terms, when making a choice, the opportunity cost is the value of what you could have gained from the next best alternative that you did not choose. It could be in terms of money, time, resources, or any other relevant factors. By considering opportunity costs, decision-makers can weigh the benefits and drawbacks of different options and make more informed choices.
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Assume the Federal Reserve increases the money supply.
A Identify an open market operation they might use to increase the money supply.
B Explain how an increase in the money supply will affect nominal and real interest rates.
C Explain how the change in interest rates caused by an increase in the money supply will impact each of the determinants of aggregate demand (C, I, G, Xn).
Answers
A central bank can increase or decrease the number of reserves in the banking system and therefore affect the nation's money supply by buying or selling bonds, bills, and other financial instruments on the open market. When the central bank sells these securities, it removes funds from the economy.
What happens when the FR increases the money supply?
A rise in the money supply has two effects: it lowers interest rates, which encourage investment, and it puts more money in the hands of consumers, which makes them feel wealthier and encourages consumption.
Through open market operations, the Fed can alter the amount of money in circulation. The Fed can expand the money supply by exchanging cash for the purchase of government assets.
The central bank's monetary policy is comprised on open market activities. For instance, policymakers use instruments like interest rates, reserves, bonds, etc. to manage the flow of money in order to increase employment, GDP, and price stability.
To purchase or sell securities to banks, the Fed employs open market operations. The Fed provides banks with additional funds to maintain as reserves on their balance sheets when it purchases assets. When the Fed sells securities, it depletes the money supply by removing funds from banks.
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It’s in the picture pleaseee I need this today
Answers
Answer:
Can you please post a clearer picture
Explanation:
If you can I might be able to help.
Personal finance questions, answers in complete sentences please. Any help is appreciated :)
1. Define FICO score here: (What does a high or low score show? What is FICO abbreviation for?)
2. Can missing a payment on credit cards, check into cash loans, or rent payments affect your Credit Score? If yes, why?
3. Will credit pulls (hard pulls) affect your credit score?
4. Borrow as little as possible and pay it in full on time wil effect your credit score in what way?
5. Will staying under 30% of your credit limit help your credit score?
Answers
1. The FICO Score is used by lenders to make fast credit risk decisions
The abbreviation means Fair Isaac Corporation.
2. Missing a payment on credit cards, check into cash loans, or rent payments affect your credit score in a negative way.
3. A hard credit inquiry could lower your credit score by as much as 10 points
4. Borrow as little as possible and pay it in full on time wil effect your credit score in a positive way.
5. Yes. Staying under 30% of your credit limit help your credit score.
What is the credit score about?Lenders use the FICO Score to help them make accurate, dependable, and timely credit risk decisions throughout the customer lifecycle. The credit risk score ranks consumers based on their likelihood of meeting their credit obligations on time.
On-time payments are the most important factor influencing your credit score, so missing a payment can be painful. If you have otherwise perfect credit, a payment that is more than 30 days late can reduce your credit score by up to 100 points. If your score is already low, it will have less of an impact but will still cause damage.
Most experts advise keeping your total credit card utilization under 30%. Lower credit utilization rates indicate to creditors that you can use credit responsibly without overusing it, so a low credit utilization rate may be associated with higher credit scores.
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Which trade policy argument suggests that a government should use subsidies to support promising firms that are active in newly emerging industries?
Answers
The trade policy argument that suggests that a government should use subsidies to support promising firms that are active in newly emerging industries is the infant industry argument.
The infant industry argument suggests that when a country is just starting to develop a new industry, it may need some protection from foreign competition in order to grow and become competitive.
The argument is based on the idea that in the early stages of development, new industries face higher costs and risks, and may not be able to compete with established industries in other countries that have economies of scale and established supply chains.
According to the infant industry argument, the government can provide support to these new industries in the form of subsidies, tax breaks, or other forms of assistance. This support can help these industries to develop and become competitive, and can also provide employment opportunities for workers in the country.
The goal of the infant industry argument is to create new industries that will eventually become competitive on their own, without the need for government support.
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If you add up all the transactions in an economy, do you arrive at gdp, gnp, or something else?
Answers
GDP is a measure of the total value of all goods and services produced within a country's borders, while GNP includes GDP plus net income from abroad, representing the total value of goods and services produced by a country's residents, domestically and internationally.
If you add up all the transactions in an economy, you arrive at the Gross Domestic Product (GDP). GDP is a measure of the total value of all goods and services produced within a country's borders during a specific time period, typically a year. It includes all final goods and services, both produced by domestic firms and foreign firms operating within the country.
To calculate GDP, economists use either the expenditure approach or the income approach. The expenditure approach adds up the spending on four major components: consumption, investment, government spending, and net exports (exports minus imports). The income approach adds up the income earned by individuals and businesses, including wages, salaries, profits, and rents.
Gross National Product (GNP), on the other hand, includes the GDP plus net income from abroad. It measures the total value of goods and services produced by a country's residents, both domestically and abroad.
In summary, when you add up all the transactions in an economy, you arrive at the GDP, which represents the total value of goods and services produced within a country's borders.
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finch construction company expects to build three new homes during a specific accounting period. the estimated direct materials and labor costs are as follows. expected costs home 1 home 2 home 3 direct labor $ 60,000 $ 93,000 $ 171,000 direct materials 102,000 131,000 189,000 assume finch needs to allocate two major overhead costs ($48,600 of employee fringe benefits and $29,540 of indirect materials costs) among the three jobs.
Answers
The total cost for each house are: $178,140, $247,120, $398,880.
Total cost1. The allocation bases rates:
Employee fringe benefits Indirect materials
Estimated overhead cost $48,600 $29,540
Total overhead driver $324,000 $422,000
($60,000+$93,000+$171,000) ($102,000+$131,000+$189,000)
Overhead allocation rate 15% 7%
($48,600/$324,000) ($29,540/$422,00)
2. The total cost of each house:
Home 1 Home 2 Home 3 Total
Direct labor $60,000 $ 93,000 $171,000 $324,000
Direct materials $102,000 $131,000 $189,000 $422,000
Fringe benefit cost allocated $9,000 $13,950 $25,650 $48,600
($60,000 x 0.15) ($93,000 x 0.15) ($171,000 x 0.15)
Indirect materials cost allocated $7,140 $9,170 $13,230 $29,540
($102,000 x 0.07) ($131,000 x 0.07) ($189,000 x 0.07)
Total cost $178,140 $247,120 $398,880 $824,140
Therefore the total cost for each house are: $178,140, $247,120, $398,880.
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The complete question is:
finch construction company expects to build three new homes during a specific accounting period. the estimated direct materials and labor costs are as follows. expected costs home 1 home 2 home 3 direct labor $ 60,000 $ 93,000 $ 171,000 direct materials 102,000 131,000 189,000 assume finch needs to allocate two major overhead costs ($48,600 of employee fringe benefits and $29,540 of indirect materials costs) among the three jobs.
Required:
Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house. (Round "Allocation rate" to 3 decimal places.)
what is 1635436743 times 76354
Answers
Answer:
1.2487214e+14
Explanation:
Peter is planning his finances for the next couple of years. He wants to save money to eventually buy a house because he will be getting married
soon. He has created a savings plan revolving around his necessary expenses, and he has set a target of three years to save up a down payment
for a house. At which phase of the financial life cycle is Peter in?
Peter is in the____
phase of the financial life cycle.
Answers
according to the development timeline, which period of real estate development ends when the construction funding initiates?
Answers
The period of real estate development that ends when the construction funding initiates is the pre-development period. The pre-development period is the phase of real estate development that occurs before construction begins. During this period, the developer conducts market research, obtains necessary permits and approvals, designs the project, secures financing, and prepares the site for construction.
It is important for developers to properly manage the pre-development phase in order to ensure the success of the project. This includes conducting thorough market research to determine demand, selecting a suitable site, designing a project that meets the needs of the market, and securing financing. Failure tomanage the pre-development phase can lead to delays, cost overruns, and ultimately, the failure of the project.
The Pre-construction period involves planning, permi adequately tting, and securing financing for the project. Once construction funding is initiated, the project moves into the Construction period, where the actual building process takes place.
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Imagine you are an economic adviser to the Commonwealth Government. The Prime Minister wants to increase spending on public transport in major cities, but does not want to raise taxes. Identify alternative sources of revenue for the government to fund its new initiatives.
Answers
Answer: A combination of 1) Increased public transportation fees, 2) raise the gasoline tax, 3) increase or institute highway tolls, or 4) reduce the road construction budget and use that money for public transportation.
Explanation:
Actions 2-4 would provide incentives to use public transportation.
How do individuals and firms make economic decisions?
Answers
Individuals and firm make economic decisions by weighing the costs and benefits of various options. They weigh the risks and benefits of various options and compare their potential outcomes.
How do individuals and firms make economic decisions?
Individuals and firms typically make economic decisions based on their own self-interests. They weigh the costs and benefits of their potential choices, considering their available resources and preferences. They may also take into account external factors such as the current market conditions, the potential impact of their decision on other parties, and legal or regulatory requirements. Ultimately, the decisions they make are based on their own personal or organizational objectives.
What is an Firm?
A firm is a business organization that is typically owned by one or more individuals and is created to produce goods or services for sale in the marketplace. Firms are typically organized into departments and are managed by executives and other employees. The ultimate goal of a firm is to maximize profits by producing products or services desired by consumers and selling them for a higher price than it cost to produce them.
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When Walmart rules with an iron fist in its management of product categories, leaving brand manufacturers to bend at their will, this is an example of which type of channel integration system
Answers
The type of channel integration system that Walmart is practicing in this scenario is called vertical integration.
Vertical integration occurs when a company controls multiple stages of the supply chain, from production to distribution to retail. In this case, Walmart is not only the retailer but also has significant power over the product categories and the brand manufacturers.
Walmart's approach to vertical integration allows them to have more control over the entire supply chain, which helps them to reduce costs and increase efficiency. By dictating the terms and conditions to the brand manufacturers, Walmart can set the prices and other aspects of the products that are sold in their stores. This approach can be beneficial for Walmart, but it can also create challenges for the brand manufacturers who are forced to adhere to Walmart's demands.
Overall, Walmart's use of vertical integration is a powerful tool that enables them to dominate the retail industry, but it also has the potential to limit competition and harm smaller businesses that are unable to compete with Walmart's size and influence.
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How much notice does the Worker Adjustment and Retraining Notification
(WARN) Act require employers give their employees when a facility is
closing?
A. 120 days
B. 90 days
C. 60 days
D. 30 days
Answers
Answer:60 days
Explanation:
ap3x
Answer:
The question may also ask:
The Worker Adjustment and Retraining Notification (WARN) Act requires that companies meet notice requirements of how many days before reducing a workforce?
The answer is still 60 days
Explanation:
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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How do bonds generate income for investors?
A. Bonds depreciate in value.
B. Bonds protect investors from bankruptcy.
C. Bonds pay interest to the bank that sold the bond.
D. Bonds pay a specified amount to the investor at maturity.
Answers
Answer: D) bonds pay a specific amount to the investor at maturity
Explanation:
Bonds generate income for investors: B. Bonds protect investors from bankruptcy.
Bonds are considered to be safer investments as compared to the stocks because the bondholders can claim on the money generated by deposition of bonds in the event of bankruptcy. It becomes one of the source of income in scarcity of money. Bonds depreciates in value with time. The value of the bond reduces with as that of its face value. Bonds pay principle interest to the bond holder rather than to the bank. There is no surety of getting a specified amount after the maturity of bond as the value of bond depreciates with the time.Hence, option B is correct.
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What competitive advantage does Apple use?
Answers
One of Apple's competitive advantages is its strong brand reputation and customer loyalty. Apple has successfully cultivated a brand image that is associated with high-quality, innovative, and user-friendly products.
This has helped the company to create a loyal customer base that is willing to pay a premium price for Apple products. Another advantage is Apple's focus on design and aesthetics. Apple products are known for their sleek and stylish designs, which have become important to the company's brand identity. This design focus has helped Apple differentiate its products from competitors and attract customers who value aesthetics and design.
Apple's ecosystem is also a competitive advantage. Apple has developed an ecosystem of hardware, software, and services that work seamlessly together, creating a cohesive user experience. This ecosystem helps to keep customers within the Apple ecosystem and makes it difficult for them to switch to competing products.
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A country usually imposes an embargo on another country for economic reasons rather than political reasons.
True or False
Answers
Answer:
True
Explanation:
Hopefully this helps.
Answer:
False
Explanation:
Took test
Most advertising spending is directed to _____.
Answers
Answer:
the internet
Explanation:
3. Five
J Builders had net income
$975 million
and reported $850
million
in
retained
earnings.
How much did Five
J Developers pay
in
dividends
in that year?
Answers
To calculate the dividends paid by Five J Builders in that year, we need to consider the change in retained earnings. Retained earnings represent the accumulated profits of a company that have not been distributed to shareholders in the form of dividends.
The retained earnings of Five J Builders is $850 million, while its net income is $975 million, we can calculate the change in retained earnings. The change in retained earnings can be determined by subtracting the beginning retained earnings from the ending retained earnings.
Dividends = Net Income - Retained Earnings
Dividends = $975 million - $850 million
Dividends = $125 million
Therefore, Five J Builders paid $125 million in dividends in that year.
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What do behaviorist and cognitivist theories have in common?
a. Praise is an important aspect of learning in both of them.
b. They both rely on a simple stimulus-response system.
c. Repetition is an important aspect of learning in both of them.
d. They both accept that the mind has a conscious role in learning.
Answers
Economic responsibility is the ___________ responsibility of a business enterprise as it relates to production of goods and services according to the needs and wants of the society.Immersive Reader
(1 Point)
Sole
Primary
Secondary
Last
Answers
Answer:
primary
Explanation:
as it relates to the prime factors of business and means of production