Effectiveness of the structure for the organization
Problem: Select an organization (DRY CLEANERS-as perfect competition) with which you are familiar and identify the market structure of that organization. Evaluate the effectiveness of this structure for the organization.
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a. Compute expected annual sales. b. Compute the standard deviation of annual sales. c. Compute the coefficient of variation of annual sales.
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Select an organization (DRY CLEANERS-as perfect competition) with which you are familiar and identify the market structure of that organization. Evaluate the effectiveness of this structure for the organization.
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Question: Clearly differentiate between Normal Profits and Economic Profits. Question: What are some of the causes of Monopoly or Monopoly Power? Would you classify De Beer's Corporation as a Monopoly? Please justify your answer.
1. What do economists mean by "comparative advantage? 2. Explain the barriers to free trade and the economics impact of trade barriers. Which trade barrier do believe is more effective and why?
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