BUSINESS HIGH SCHOOL

Characteristics of a monopoly

Answers

Answer 1
Answer: Number of firms -one Nature of product-a unique product with no close substitute Entry- completely blocked Information - complete Collusion between sellers - irrelevant Firm's control over the price of product - considerable , but limited by market demand and goal of profit maximisation Demand curve of the firm's product - equals market demand curve : downward sloping Long-run economic profit - can be positive

Related Questions

Which of the following is true about present value calculations? Other things remaining equal, the present value of a future cash flow increases if the investment time period increases. Other things remaining equal, the present value of a future cash flow decreases if the investment time period increases.
The income statement of Benning Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Wages Expense $2,300, Supplies Expense $1,200, and Utilities Expense $600. In reviewing the statement, you discover the following.Insurance expired during July of $400 was omitted.Supplies expense includes $200 of supplies that are still on hand at July 31.Depreciation on equipment of $150 was omitted.Accrued but unpaid wages at July 31 of $300 were not included.Services provided but unrecorded totaled $500.InstructionsComplete the correct income statement for July 2010. (List amounts from largest to smallest eg 10, 5, 3, 2.)Benning Co.Income StatementFor the Month Ended July 31, 2010RevenuesService RevenueAccrued RevenueDepreciation ExpenseSupplies ExpenseEquipmentSuppliesUtilities ExpenseWages ExpenseUnearned RevenueAccumulated DepreciationInsurance ExpenseWages PayablePrepaid Insurance $ExpensesWages PayableInsurance ExpenseSuppliesUtilities ExpenseAccumulated DepreciationWages ExpenseService RevenueUnearned RevenueDepreciation ExpenseAccrued RevenueSupplies ExpenseEquipmentPrepaid Insurance $Prepaid InsuranceAccrued RevenueInsurance ExpenseService RevenueWages PayableEquipmentSuppliesUnearned RevenueAccumulated DepreciationUtilities ExpenseDepreciation ExpenseSupplies ExpenseWages ExpenseUtilities ExpenseEquipmentDepreciation ExpenseWages PayableService RevenueSupplies ExpenseUnearned RevenueAccrued RevenueInsurance ExpenseWages ExpensePrepaid InsuranceSuppliesAccumulated DepreciationAccrued RevenueAccumulated DepreciationUtilities ExpenseEquipmentDepreciation ExpenseUnearned RevenueWages ExpenseWages PayableSupplies ExpensePrepaid InsuranceInsurance ExpenseService RevenueSuppliesWages PayableWages ExpenseSupplies ExpenseService RevenueUtilities ExpenseAccumulated DepreciationPrepaid InsuranceUnearned RevenueSuppliesAccrued RevenueEquipmentDepreciation ExpenseInsurance Expense
Justify the reasons why businesses use team dynamic theories to understand team performance.
The E Company has sold five million toasters. There have never been any safety problems with the toasters. One toaster, for no apparent reason, electrocutes the son of a woman who bought the toaster In a suit against the E Company for the death, the company is likely to be held:______. a. not liable because one in five million toasters is evidence of high quality, not a safety problem b. not liable because the toaster was purchased by the woman, not her son, so there is no right to sue c. not liable because of assumption of the risk, a reasonable person knows that using an electrical appliance could result in injury d. liable in strict liability based on a manufacturing defect theory e. liable in strict liability based on a design defect theory
How does a country's GDP help you determine if its economy is strong or weak?

Which action will help increase a low FICO score?A.) Reducing credit card balances.
B.) Holding payment on bills.
C.) Applying for credit more frequently

Answers

Reducing credit card balances is the action will help increase a low FICO score. 

The FICO mortgage score is between 300 and 850. Higher scores indicate lower credit risk. Each individual actually has 65 credit scores for the FICO scoring model because each of three national credit bureaus, Equifax, Experian and TransUnion, has its own database.

Fact Pattern 10-1 Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery.​ Refer to Fact Pattern 10-31 If Ambrose breaches the contract, Belle Vista's remedy would most likely be________.

Answers

Answer:

specific performance.

Explanation:

In contract law, specific performance refers to a legal remedy ordered by a court in order to compensate the non-breaching party. This remedy should result in the injured party holding a financial position equal to the position that should have resulted from the performance of the contract.

In other words, Ambrose must either purchase the 350 acres or pay an amount of money that would improve Belle Vista's financial position in the same way as the selling of the land would have.

Kadeem bought snacks for his team's practice. He bought a bag of oranges for $2.07 and a 24-pack of juice bottles. The total cost before tax was $33.03. Write and solve an equation which can be used to determine xx, how much each bottle of juice cost

Answers

Each bottle of juice cost are 1.29 per bottle.

What is tax?

The term tax refers to the government charge the extra money for goods and services. The tax is also called as financial charge. The public pay tax is compulsory. There are two categories of tax such as direct tax and indirect tax.

The equation are the given are:

oranges for $2.07

total cost before tax was $33.03

24-pack of juice bottle

X = (tax-oranges) ÷ juice bottle

X = ($33.03—$2.07) ÷ 24

X = (30.96) ÷ 24

X = 1.29 per bottle.

As the result, the tax was the included the per bottle price is the $1.29.

Learn more about on tax, here:

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Answer:

Here's the equation and everything

Explanation:

Which one of the following best describes ​"semidash​strong" market​ efficiency? A. All public information is quickly reflected in security prices. B. The market is generally​ efficient, but some anomalies remain unexplained. C. Transactions are faster and lessdashexpensive than in the​ past, but not as fast or inexpensive as they could be. D. All information about a​ company, both private and​ public, is quickly reflected in its stock price.

Answers

Answer:

The correct answer is letter "A": All public information is quickly reflected in security prices.

Explanation:

The Efficient Market Hypothesis (EMH) states that stock prices reflect all necessary and available information making it impossible for investors to beat the market even if obtaining information from insiders. Besides, the EMH establishes that the use of technical or fundamental analysis is useless at the moment of "predicting" future stock prices.

There are three forms of EMH: weak EMH, semi-strong EMH, and strong EMH. The semi-strong form of the EMH establishes that public information adjusts rapidly to current stock prices. It also states that only material non-public information could be helpful at the moment of estimating future stock prices.

A budget is a planning tool.
a. True
b. False

Answers

a. True. A budget helps you plan how much you are going to spend and what you are going to spend it on.
A budget is a planning tool.
This is a true statement.

Suppose that an initial $10 billion increase in investment spending expands GDP by $10 billion in the first round of the multiplier process. Also assume that GDP and consumption both rise by $8 billion in the second round of the process.A) What is the MPC in this economy? B) What is the size of the multiplier?

Answers

Answer: A. MPC = 0.8

B. Multiplier = 5

Explanation:

Given in the question above, we have:

Change in consumption = $8 billion

Change in income = $10 billion

(We know, GDP = C + I + G + (X-M)

Where;

C= consumption

I= investment

G= government expenditure

X-M= net exports

Therefore, change in Investment by $10B means GDP automatically increases by $10B. Similarly, change in Consumption by $8B means GDP automatically increases by $8B.

a) The formula used to find MPC:

MPC = Change in consumption / Change in income

MPC = 8/10 = 0.8

Therefore MPC = 0.8

b) Formula to find multiplier:

k = 1/(1-MPC)

k= 1/1-0.8

k= 1/0.2

k= 5.
Other Questions
A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2005 found a job paying $30,000. The CPI was 1.68 in 2005. The 1972 graduate's job paid ______ in nominal terms and ______ in real terms than the 2005 graduate's job.
Compensating balancesa. are a particular form of collateral commonly required on commercial loans.b. allow banks to monitor firms' check payment practices, which can yield information about their borrowers' financial conditions.c. are a required minimum amount of funds that a borrower (i.e., a firm receiving a loan) must keep in a checking account at the bank.d. are all of the above.
There are two distinct proposals, a and b, being debated in washington. the congress likes proposal a, and the president likes proposalb. the proposals are not mutually exclusive; either or both or neither may become law. thus there are four possible outcomes, and the rankings of the two sides are as follows (where as always a larger number means they prefer it)
The primary financial goal of a corporation is shareholder wealth maximization, which involves maximizing the long-run value of the firm's stock and requires taking a long-run view of a firm's operations. To achieve their financial goals, firms must develop products that consumers want, produce the products efficiently, sell them at prices, and observe laws relating to corporate behavior.a. Apart from their financial goals, companies also focus on a wide number of non-financial goals including maximizing the welfare of their employees, efficiently and fairly serving their customers, and respecting their local community and environment.Select the statement that best completes the following statement: Most managers recognize that being socially responsible is important and generally (but not always consistent) with achieving their financial goals.b. As a result of financial scandals during the past decade, there has been a strong push to improve business ethics. Managers have an obligation to behave ethically, and they must follow the laws and other society-imposed constraints. Most managers recognize that being ethical is consistent with the corporation's primary goal.c. A stock's intrinsic value is an estimate of a stock's "true" value based on accurate risk and return data. It can be estimated but not measured precisely. When a stock's actual market price is equal to its intrinsic value, the stock is in equilibrium. The marginal investor's views determine a firm's actual stock price.