Business, 19.12.2021 06:50 angelinaranee15

Identify and discuss key modern management perspectives represented by the systems and contingency perspectives, and identify the major challenges and opportunities faced by managers today.

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you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."

Answer from: Quest

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answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.

Answer from: Quest

The correct answer is (b) the marginal contribution of labor decreases as the quantity of labor used in production increases;

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Identify and discuss key modern management perspectives represented by the systems and contingency p...

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