One example of a good sold in a monopolistically competitive market is coffee.
The characteristics of a monopolistically competitive market that are shown here are differentiated products and many firms. Coffee shops offer different types of coffee, such as lattes, cappuccinos, and espressos, which are differentiated from each other.
The presence of many coffee shops shows that the market has many firms.
However, there are also some characteristics that are not shown in the coffee market. Low profits in the long run are not necessarily the case in the coffee market, as some coffee shops, such as Starrbucks, have been able to maintain high profits.
Inefficient production is also not necessarily the case, as coffee shops typically operate with high efficiency to keep costs low and maintain quality.
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Explain the following statements: a) What happens to wages and employment if the government imposes a payroll tax on a monopolist? b) Compare the response in the monopolistic market to the response that would have been observed in a competitive labour market? c) Indicate the main types of unemployment, their causes, and the usual policies discussed to curb each type of unemployment.
a) Imposing a payroll tax on a monopolist can lead to lower wages and reduced employment.
b) In a competitive labor market, the impact of a payroll tax would be different, with a smaller effect on employment.
c) The main types of unemployment are frictional, structural, and cyclical, each requiring specific policies for mitigation.
a) When a government imposes a payroll tax on a monopolist, it increases the cost of labor for the monopolist. To offset the higher costs, the monopolist may reduce wages for its employees, leading to lower wages. Additionally, the higher costs may make it less profitable for the monopolist to operate, resulting in a reduction in employment levels.
b) In a competitive labor market, the impact of a payroll tax is different because firms have less market power. In this scenario, firms cannot easily pass on the tax burden to employees through lower wages. The burden of the tax is typically shared between employers and employees, resulting in a smaller impact on employment compared to a monopolistic market.
c) The main types of unemployment are frictional, structural, and cyclical. Frictional unemployment occurs when individuals are between jobs or searching for new employment. Structural unemployment is caused by a mismatch between the skills and qualifications of workers and the available job opportunities. Cyclical unemployment is a result of fluctuations in the business cycle and overall economic activity.
To address frictional unemployment, policies such as improving job search assistance, enhancing networking opportunities, and reducing barriers to information can be implemented. Structural unemployment can be tackled through measures such as education and training programs to equip workers with the necessary skills for available jobs, and promoting labor market flexibility. To combat cyclical unemployment, policies like fiscal stimulus, monetary policy adjustments, and public works programs are often employed to stimulate economic growth and reduce unemployment during economic downturns.
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What is the present value of a perpetuity that makes annual payments of $10,000 at 4ompounded annually? (round your answer to the nearest dollar)
The present fee of the perpetuity is $250,000.
The gift value of perpetuity may be calculated through the usage of the method:
PV = Payment / Interest Rate
In this case, the once-a-year charge is $10,000 and the hobby price is 4% compounded annually. To calculate the present price, we divide the yearly fee by using the interest price.
PV = $10,000 / 0.04
PV = $250,000
Therefore, the present fee of the perpetuity is $250,000. This way that if we discount all of the destiny cash flows of $10,000 according to year at a 4% hobby fee, the sum of their gift values may be $250,000.
This represents the amount of money that could need to be invested now to generate an annual payment of $10,000 indefinitely at the given hobby charge. It is vital to note that the present price represents the price of future coin flows in cutting-edge bucks, accounting for the time fee of cash.
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Question 23 If the price elasticity of demand for apples is 8, then a 2.4% increase in the price of apples will decrease the quantity demanded of apples by O 92%, and apples sellers' total revenue will increase as a result. 92%, and apples sellers' total revenue will decrease as a result. 3%, and apples sellers' total revenue will increase as a result, O 3%, and apples sellers' total revenue will decrease as a result
The correct answer is: 3%, and apple sellers' total revenue will decrease as a result.
If the price elasticity of demand for apples is 8, this means that a 1% increase in the price of apples will result in an 8% decrease in the quantity demanded of apples. So, a 2.4% increase in the price of apples would lead to a decrease in quantity demanded of 19.2% (8 x 2.4 = 19.2%).
When the quantity demanded decreases more than the price increases, the demand is said to be elastic. In this case, with a price elasticity of 8, the demand for apples is highly elastic. Therefore, if the price of apples increases by 2.4%, the total revenue of apple sellers will decrease.
This is because the decrease in quantity demanded is proportionally higher than the increase in price, leading to a net decrease in revenue for apple sellers. Therefore, the correct answer is: 3%, and apple sellers' total revenue will decrease as a result.
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If u receive the funds for a takeaway what are your plans for the next 12 months.
Answer:
Pay it all off and save up money
Explanation:
Answer:
i would donate some of the money to a charity
Explanation:
The government can make money by borrowing from its population in the form of governmental bonds.
A. True
B. False
Answer:
False
Explanation:
Banks do not hold a lot of their assets in the form of cash mainly because of:
a. regulation.
b. the fear of being robbed.
c. the opportunity cost of holding cash, cash does not earn interest.
d. it can encourage employee theft.
Banks do not hold a lot of their assets in the form of cash mainly because of the opportunity cost of holding cash, cash does not earn interest. The correct option is C.
Opportunity costs are the possible advantages that a person, investor, or company forgoes while deciding between two options. It is necessary to weigh the advantages and disadvantages of each choice offered in order to correctly assess opportunity costs.
The interest that could have been made if the cash had been used to buy bonds instead is the opportunity cost of keeping any money balance.
Therefore, due to the opportunity cost of holding cash and cash does not earn interest banks does nor prefer to hold a lot of their assets in the form of cash .
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For each lease below identify whether the short-term lease recognition exemption would be available. Fill in the columns by dragging and dropping the options from below, and then select Submit.
Here is the analysis of whether the short-term lease recognition exemption would be available for each lease:
How to explain the leaseLease 1: Lease term: 11 months
Option to purchase: No
The short-term lease recognition exemption would be available for this lease because the lease term is 12 months or less and there is no option to purchase the underlying asset.
Lease 2:Lease term: 10 months
Option to purchase: Yes, but the lessee is not reasonably certain to exercise the option.
The short-term lease recognition exemption would be available for this lease because the lease term is 12 months or less and the lessee is not reasonably certain to exercise the option to purchase the underlying asset.
Lease 3: Lease term: 11 months
Option to purchase: Yes, and the lessee is reasonably certain to exercise the option.
The short-term lease recognition exemption would not be available for this lease because the lease term is 12 months or less, but the lessee is reasonably certain to exercise the option to purchase the underlying asset.
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The concept of limited liability
Answer: Function, The function of the concept of limited liability is to provide the owners of businesses a way to protect their personal assets. For example, if a business is sued, the person seeking compensation cannot go after the personal property of the business' owners.
Types The concept of limited liability gives rise to a variety of different types of business organizations.These include corporations and limited liability companies, all of which are created by the laws of each of the 50 states.
Significance The concept of limited liability plays a significant role in commerce. Absent the concept of limited liability, individuals would shy away from investing in businesses of any type. The vast majority of individuals would not want to put their personal property at risk by becoming involved in a business enterprise.
Features The concept of limited liability restricts the amount of money a person risks to what she invests in a business enterprise
Exception Protections normally associated with the concept of limited liability can be set aside in certain situations. For example, if a business owner co-mingles personal and business assets -- in a common bank account, for example -- an individual with a claim against the business likely can seek compensation from some, if not all, of the business owner's personal assets.
Expert Assistance A business owner facing a situation in which another individual or business makes a claim against the business should seek legal assistance. A qualified attorney not only protects the interests of the business but works to ensure that the owner's personal assets do not end up in jeopardy.
Explanation:
)Arrange the phases of product/market fit in the correct order
The answer is the correct order for the phases of product/market are-
Your target customer, Your customer's underserved needs, Your value proposition, Your feature set, and Your user experience (UX).
What do you by market?The entire number of buyers and sellers in the region or area under consideration is said to as the market. The region might be the entire planet, or it could be made up of several states, provinces, or cities. The value, cost, and price of goods sold are determined by the dynamics of supply and demand in a market.
3 different sorts of markets?The four most common forms of market structures are monopoly, oligopoly, perfect competition, and monopolistic competition.
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Queensgate is a large cruise ship operator that runs cruises throughout the globe. A look at their business shows that oil is one of their largest raw materials such that they purchase significant amounts of oil throughout the year. One of the risks faced by the company is that they sell cruise packages many months prior to the time of the cruise, such that any changes in the price of oil from the time they collect revenues from sold cruise packages and the time they set sail can have large impacts on their business profitability. Queensgate is considering the use of options on oil as a way to hedge this risk. Which of the following option positions would you recommend? a. Write puts on the price of oil per barrel b. Buy calls on the price of oil per barrel c. Buy puts on the price of oil per barrel d. Buy straddles on the price of oil per barrel e. Write calls on the price of oil per barrel
Write puts on the price of oil per barrel ,Purchasing oil contracts that are already on the market locks in fuel purchases at the present rates.
How can one manage their oil risk?Purchasing oil contracts that are already on the market locks in fuel purchases at the present rates. If you think prices will increase in the future, this is advantageous. Another way to protect against fluctuating oil prices is the use of call and put options.An at-the-money Weekly put option and an out-of-the-money Weekly call option with the same expiration are bought and sold by the trader as part of a collar strategy for hedging. Selling the call lowers the cost of the approach and enables the trader to protect against downside risk.To learn more about put option refer to:
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A three-piece high school rock band practiced for at least one hour most days of the week. Its studio was the cramped one-car garage of the drummer’s home. Ultimately, several neighbors offered to pay the rent at a local mini-warehouse as a practice room for a year if the group agreed to stop practicing at the drummer’s home. As the warehouse was much larger, the players agreed. Did the neighbors receive consideration? Did the rock band receive consideration? Did the rock band receive a benefit, endure a detriment, both, or neither? Was the contract enforceable?
Answer:
In this scenario, the neighbors offered to pay the rent for a local mini-warehouse as a practice room for a year in exchange for the rock band agreeing to stop practicing at the drummer's home. This constitutes an offer for a contract. The rock band agreed to the offer, which forms the basis of a valid contract.
The neighbors received consideration in this contract by agreeing to pay the rent for the mini-warehouse for a year. The rock band received consideration in the form of a new practice space, which was much larger than the cramped garage they were using before.
Additionally, the rock band received a benefit from the contract by getting access to a larger and more suitable practice space. On the other hand, they endured a detriment by agreeing to stop practicing at the drummer's home.
Therefore, the rock band received both a benefit and endured a detriment. The neighbors received consideration, but did not receive a benefit or endure a detriment.
As long as the essential elements of a contract are present (offer, acceptance, consideration, and a lawful purpose), the contract is generally enforceable. In this case, the offer, acceptance, and consideration are present, and the purpose of the contract is lawful. Therefore, the contract is enforceable.
Explanation:
The rock band agreed to stop practicing at the drummer's home in exchange for the neighbors paying the rent for a nearby mini-warehouse for a year.
This transaction proposition is being made. The rock band's acceptance of the offer established a binding contract.
What is meant by a warehouse?A warehouse is a structure where items are stored. Manufacturers, importers, exporters, wholesalers, transportation companies, customs, etc. all use warehouses. They are often big, basic buildings that can be found in industrial parks on the outskirts of towns, cities, or villages.
Docks are typically found in warehouses where trucks can load and unload cargo. On occasion, warehouses are built to enable direct freight loading and unloading from transport methods including trains, ships, and airplanes. They commonly have cranes and forklifts for moving the goods, which are frequently loaded into pallet racks and put on ISO standard pallets. A warehouse might be referred to as a "godown" in India and Hong Kong.
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Which of the following falls outside of the classification of business expenditures that fall into the category of variable costs?
a) costs that increase with the quantity produced
b) costs of research and development
c) costs related to labor expenditures
d) costs related to physical inputs
The option that falls outside of the classification of business expenditures that fall into the category of variable costs is option C. costs of research and development. Read below about costs of research and development.
What is a costs of research and development?These are costs taken to develop new products or processes that may or may not result in commercially viable items. The general rule is that research and development costs are to be expensed immediately when the costs are incurred.
Therefore, the correct answer is as given above.
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When corporations involved in different steps of manufacturing or marketing merge it is known as a(n)
A. Multinational merger
B. Horizontal merger
C. Vertical Merger
D. Conglomerate
When corporations involved in different steps of manufacturing or marketing merge, it is known as a vertical merger.
A vertical merger is a merger between companies that are involved in different stages of production or distribution of a product or service. In a vertical merger, a company merges with another company that either produces the raw materials or is involved in the distribution or sale of the final product. This type of merger can help to improve efficiency, reduce costs, and streamline operations by integrating different stages of production or distribution.
In contrast, a horizontal merger is a merger between companies that are direct competitors and operate in the same industry, while a conglomerate merger involves companies that operate in completely different industries. A multinational merger is a merger between companies that operate in different countries or regions around the world.
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In 2017, Canada enforced an asset freeze and dealings ban on Venezuela. Canada also prohibits citizens and Canadian residents from providing any goods to Venezuela. What type of trade barrier does this BEST represent?
The asset freeze and dealings ban on Venezuela enforced by Canada in 2017 represents a form of trade barrier known as an embargo.
An embargo is a government-imposed restriction on trade for political or security reasons, which prohibits the export or import of certain goods or services, or restricts trade in general.
In this case, Canada's embargo on Venezuela is a targeted measure intended to put pressure on the Venezuelan government to respect human rights and restore democratic institutions. By freezing assets and banning dealings with Venezuelan officials, Canada aims to limit the financial resources available to the government and restrict its ability to conduct business internationally.
Additionally, by prohibiting Canadian citizens and residents from providing goods to Venezuela, Canada seeks to further limit the government's access to necessary resources.
Embargoes can have significant economic impacts on both the country imposing the embargo and the target country. In this case, Canada's embargo on Venezuela has limited trade between the two countries and had significant effects on the Venezuelan economy, which has already been struggling due to political turmoil and economic mismanagement.
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Match the job titles with career clusters executive secretary survey researcher Storage and distribution manager loan officer cargo and freight agent general manager
Answer:
Accountant - Finance
Survey Researcher - Science, Technology, Engineering and Mathematics
Loan Officer - Finance
Cargo and Freight Agent - Transportation, Distribution and Logistics
General Manager - Business Management and Administration
Executive Secretary - Business Management and Administration
Storage and Distribution Manager - Transportation Distribution and Logistics
Purchasing Agent - Manufacturing
Explanation: i took the test and got 100
Matching the job titles with career clusters are Executive Secretary in Business Management and Administration, Survey Researcher in Science, Technology, Engineering and Mathematics.
What are career clusters?Career Clusters provide students with a context for studying traditional academics and learning the skills specific to a career, and provide U.S. schools with a structure for organizing or restructuring curriculum offerings and focusing class make-up by a common theme such as interest.
In the U.S. Department of Education model, 17 Career Clusters link to 70+ more specific Career Pathways each having its knowledge and skills requirements. Within the 70+ career pathways, 1800 Career Specialties are defined. The structure has evolved and may vary by state. Matching more job titles with career clusters are Storage and Distribution Manager - Transportation Distribution and Logistics, Loan Officer Finance, and Cargo and Freight Agent - Transportation.
Further, Distribution and Logistics, General Manager - Business Management and Administration.
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Which of the following is NOT a way that the work environment is different from the interpersonal communication environment? a. Work requires group communication. b. Organizations have different hierarchical structures. c. Work is tied to our identity so face and power goals are more common. d. There are more power imbalance in our nereanal lives
Organizations have different hierarchical structures is not a way that the work environment is different from the interpersonal communication environment.
A workplace is the location, the social dynamics, and the physical surroundings in which you carry out your duties. These factors may have an effect on employees' health, relationships at work, and their overall well-being. Your comfort level at work may be greatly influenced by your employer's values and how well they mesh with your own.
Workplace interpersonal communication is crucial for fostering cooperation, employee engagement, and corporate success. Daily internal staff communications, customer meetings, employee performance evaluations, and project talks are examples of interpersonal communication that is often employed in a corporation. Furthermore, a substantial percentage of workplace interpersonal interactions between employees now takes place online.
Option B is the correct answer.
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modern growth theory built upon the solow model by focusing on what fundamental contributor to economic growth?
Modern growth theory, also known as endogenous growth theory, built upon the Solow model by focusing on technological progress and human capital as fundamental contributors to economic growth.
What's the Solow modelWhile the Solow model emphasizes the role of physical capital and labor, endogenous growth theory integrates factors such as innovation, research and development, education, and skills. These elements drive productivity improvements and long-term economic expansion.
In this framework, governments and institutions play a vital role in promoting growth by investing in education, infrastructure, and supportive policies. This fosters a conducive environment for research, knowledge creation, and the development of new technologies.
As a result, endogenous growth theory highlights the importance of both public and private sectors in sustaining economic growth and improving living standards over time.
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In what ways can hoodies be disposed of? Explain the transaction records along with the outline for each route brainly
Hoodies as personal assets can be disposed of in these three ways: trade-in as scrap, de-recognition, outright sale.
The transaction records for each disposal method include removing the cost of the asset from the fixed assets register and its accumulated depreciation, recording the disposal receipts, and computing the profit or loss from the disposal if any.
Thus, for the disposal of hoodies (personal assets), the transaction records remove the cost and accumulated depreciation from the accounts, record the disposal receipts, and compute the profit or loss.
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What is inflation?
Movement, whether upward or downward, of economic activity
Monetary value of final goods and services produced within a country for a specific time period.
The rate at which the price level of goods and services rises.
A measurement used by economics to measures average prices of a market basket of consumer goods and services.
To determine whether accounts payable are complete, an auditor performs a test to verify that all merchandise received is recorded. The population of documents for this test consists of all?
To determine whether accounts payable are complete, an auditor performs a test to verify that all merchandise received is recorded. The population of documents for this test consists of all receiving reports.
What are receiving reports?Receiving reposts is a kind of tool that is used to list, document or note all the transaction details of the businesses. It is generally updated and maintained by those employees of the staff who are responsible for receiving or accepting the delivery of goods.
Thus, an auditor runs a test to ensure that every item received is recorded in order to evaluate whether accounts payable are complete. The receiving reports are the population of documents for this test.
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QUESTION 23 A company loses revenues from regular customers by accepting a special order when operating at capacity. The loss of revenue just described is an example of w following? OaAn unavoidable cost Ob An opportunity cost Oc Asunk cost Od A revenue cost
The loss of revenue from regular cost customers by accepting a special order when operating at capacity is an example of an opportunity cost.
Opportunity cost refers to the value of the next best alternative that is forgone when a particular decision is made. In this case, the opportunity cost is the revenue that could have been earned from regular customers if the company had not accepted the special order. By accepting the special order, the company sacrifices the potential revenue from its regular customers, which represents the opportunity cost of accepting the special order.
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In macroeconomics, the connection from inputs to outputs for the entire economy is called _______________.
Answer:
an aggregate production function. Hope it helps!
Name the 6 Holland Codes:
Answer:
the original were "motoric, intellectual, esthetic, supportive, persuasive, and conforming" but then later changed to "Realistic (Doers), Investigative (Thinkers), Artistic (Creators), Social (Helpers), Enterprising (Persuaders), and Conventional (Organizers)"
Explanation:
Because I am smart^-^
Answer:
first it was motoric, intellectual, esthetic, supportive, persuasive, and conforming then they got changed to Realistic (Doers), Investigative (Thinkers), Artistic (Creators), Social (Helpers), Enterprising (Persuaders), and Conventional (Organizers)
Explanation:
The chart shows the marginal revenue of producing apple pies.
__ Pies_____ Total __ Marginal
produced__revenue__ revenue
_per day
0__ ── _ ──
1 _ $10 __ $10
2 _ $20 _ $10
3 _ $30 _ $10
4 _ $40 _ $10
5 _ $50 _ $10
6 _ $60 _ $10
7 _ $70 _ $10
According to the chart, the marginal revenue
❌ A) decreases by ten dollars as production increases.
❌ B) increases by ten dollars as production increases.
❌ C) falls to zero dollars as production increases.
✔️ D) remains the same as production increases.
Quiz./I Help People Like you Who Need Help. I did the if you don't like it that makes me sad : (
The graph on marginal revenue shows that marginal revenue D) remains the same as production increases.
What is marginal revenue ?The increase in revenue that comes from selling one more unit of output is known as marginal revenue. Although marginal revenue can remain constant at a certain level of output, it will eventually start to decline as the output level rises due to the law of diminishing returns.
According to economic theory, firms that are completely competitive keep on producing goods until marginal revenue and marginal cost are equal.
As shown in the graph, the marginal revenue was $ 10 from the first unit produced up until the 7 th unit produced. This means that the marginal revenue remained the same as production increased.
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Silvio frequently disagrees with his teammates on the best way to accomplish their tasks and enjoys offering contrarian viewpoints. this is most likely to lead to greater team effectiveness when: a. his team recognizes this as relationship conflict. b. the team is engaged in a difficult task that requires creativity.c. his team spends most of their time addressing his contrarian viewpoints.d. the team is engaged in a relatively routine task.e. it leads some of his teammates to consider joining a different team.
Based on the information provided, option b. is the most likely scenario where Silvio's contrarian viewpoints could lead to greater team effectiveness. Engaging in a difficult task that requires creativity can benefit from diverse perspectives and approaches, which Silvio's differing opinions can offer. However, if his teammates perceive his behavior as relationship conflict (option a.), this could create tension and hinder collaboration. Spending most of the team's time addressing Silvio's viewpoints (option c.) could also be counterproductive and slow down progress. Similarly, if the team is engaged in a relatively routine task (option d.), Silvio's differing opinions may not be as valuable. Lastly, if Silvio's behavior leads some of his teammates to consider leaving the team (option e.), this could negatively impact team cohesion and performance.
Based on the information provided, Silvio's tendency to disagree with his teammates and offer contrarian viewpoints is most likely to lead to greater team effectiveness when:
b. the team is engaged in a difficult task that requires creativity.
This is because diverse perspectives and constructive debate can stimulate creative thinking, allowing the team to explore new ideas and develop innovative solutions to challenging problems.
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Consider the below Scenario
"In September, the Environmental Protection Agency (EPA) found
that many VW cars being sold in America had a "defeat device" - or
software - in diesel engines that could
In September, the Environmental Protection Agency (EPA) discovered that numerous VW cars being sold in America were equipped with a "defeat device" or software in their diesel engines that could manipulate emissions tests.
In September, the Environmental Protection Agency (EPA) conducted an investigation and determined that a significant number of Volkswagen (VW) cars available for sale in the United States were fitted with a "defeat device." This device was essentially a software program embedded in the diesel engines of these vehicles. Its purpose was to deceive emissions tests by manipulating the engine's performance, resulting in lower recorded emissions during testing than what the cars actually emitted in real-world driving conditions.
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Which of the following choices is an advantage of an oligopoly?
agreeing to set prices high
slowing innovation by excluding new firms from the market
inventing new things to offer more choices
limiting choices within the market
The sentence that is the correct choice which is an advantage of an oligopoly is option C. inventing new things to offer more choices.
What is an Oligopoly?An oligopoly is a market organization in which an industry is presided over by a minute number of big sellers or companies. Oligopolies often generate the choice to increase profits, resulting to collusion among organizations. In view of the choices created or invented in order to increase profit will definitely be an advantage for an oligopoly in the sense that it indirectly increases their productivity and brand as well.
Why is oligopoly advantageous?Oligopoly is advantageous in the sense that it enables such market organization to provide varieties of products which boost their productivity on its own part as well as expanding their scope as they think of inventing new things to offer and also creates alternatives to select from on the part of the consumers.
Therefore, the correct answer is as given above. The option which depict the advantage of an oligopoly is the invention of new things to choices.
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when using the specific identification inventory method, cost of goods sold equals the ______.
With the specific identification inventory method, the Cost of Goods Sold equals the exact costs of the items sold.
The specific identification inventory method tracks each sold item to record its cost. The Cost of Goods Sold includes only the actual cost of the items sold and not an average or assumed cost.
The specific identification inventory method is not like the:
FIFO (First-in, First-out) method that assumes that items sold are from the first inventories in the storeLIFO (Last-in, First-out) method that assumes that items sold are from the last inventories in the storeWeighted-average method that takes the average cost for all the items in store to determine the cost of goods sold.
Thus, the specific identification method ensures that the Cost of Goods Sold equals the actual cost of the goods.
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name 5 types of business farms
Answer:
sole proprietorshiplimited liability companypartnershipcorporationcooperative.
Answer: sole proprietorship
limited liability company
partnership
corporation
cooperative.
non profit corparation
Explanation:
Lavonda’s very wealthy grandmother recently died. After her death, everything she owned totaled $1,000,000. However, her family was only given $700,000. What MOST likely happened to the other $300,000?
It was used to cover income taxes.
It was used to cover sales taxes.
It was used to cover excise taxes.
It was used to cover estate taxes.
Answer: wrong it is estate taxes
Explanation:
The most likely event happened to the other $300,000 that It was used to cover estate taxes. Thus last option is correct.
What is the meaning of Estate taxes?Estate Tax refers to the form of the tax in which a charge placed on a property owner's ability to transmit their possessions to others after passing away that takes the shape of a percentage of their taxable estate.
According to the above situation, the death of the Lavonda’s grandmother led to the implementation of the Estate Tax on her wealth of $1,000,000.
Therefore, the taxable estate to be included is $300,000. Thus last option is correct.
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