The concept of markup under monopolistic competition would best be described as the

The concept of markup under monopolistic competition would best be described as the DIFFERENCE BETWEEN THE MARGINAL COST AND THE PRICE OF THE MONOPOLISTIC COMPETITOR.
A firm mark up refers to the amount by which its price is greater than the marginal cost.  Companies that operate in monopolistic competition usually do so with excess capacity in the long run, this make them to produce at less than the efficient scale.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Answer supply chain management;