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Darina [25.2K]
3 years ago
13

There are 10 firms in an industry, and each firm has a market share of 10 percent. the industry's herfindahl index is

Business
1 answer:
Anna35 [415]3 years ago
5 0
Herfindahl index is a number that allows us to determine the concentration of the firms of a certain industry in a certain location. This can be computed by squaring the market shares of each company and summing up all the squared marked shares. This is as shown below.

    square of market shares = (10^2) = 100

Since there are 10 companies, we may multiply the calculated value by 10 to give the final answer of, 1,000. 

Answer: 1,000
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Smith is a CPA. His neighbor, Jones, asks him to prepare his tax return. Jones and Smith are casual friends. Smith prepares the
kati45 [8]

Answer:

Jones is liable to pay.

He is liable to pay to the tune of $1000. This may be negotiated however if it is not fair.

Explanation:

See the following points

  • The question above is an example of Implied At-law contracts. (We will get to the definition of this in a bit).
  • A contract is a legally binding agreement that recognises and governs the rights and duties of the parties to the agreement. A contract is legally enforceable because it meets the requirements and approval of<u> the Law</u>. From the above definition it is clear that two people may actually be engaging  in a contract without knowing it.
  • The law defines that a contract is.
  • Contracts may be Express or Implied.
  • Express contracts are simply contracts that are stated expressly, or openly, in either writing or orally, at the time of contract formation.
  • Implied contracts are created when two or more parties have no written contract.
  • There are two types of implied contracts:

  1. Implied In-Fact Contracts: these are contracts which create an obligation between the parties based on the facts of the situation. For example, assume your neighbor hires you to wash his car every Friday for the entire holidays. You wash your neighbor’s car for the first four weekends of the holidays and get paid on Friday morning each time. The fifth Friday you wash the car and when you arrive at your neighbor’s house for your pay, your neighbor refuses to pay you.                                           The law will infer that there is a contract between you and your neighbor, even though you never put anything in writing. This is an implied in-fact contract.

       2. The other type of Implied contract is that which is Implied At-Law

In the case between Jones and Smith, the law imposes a duty to perform a contract, and will enforce such a contract even against a person’s will, where the situation is such that without this legal intervention, one party would be <u>unfairly enriched</u> or advantaged by another party’s action.

  • In the question above, Smith is a CPA. He is qualified in every respect to carry out Professional Tax services. His services may be relied upon with a great degree of confidence.
  • If Jones had not filed those tax returns, he probably would have lost monies that should have accrued to him from the government.

This type of agreement is also considered a quasi-contract. A quasi-contract occurs where the law imposes an obligation upon the parties where in fact the parties did not intend to enter into a contract and made no promise to perform.

However, because one party would be unjustly enriched by another party’s action, the beneficiary of those actions must make restitution or pay fair value for the services provided, even though there was never any intention to enter into an agreement.

Cheers!

4 0
3 years ago
Juan is always researching different investment options. A few weeks ago he noticed some nice homes for sale in his neighborhood
lesya692 [45]

Answer: The market will experience more demand and the prices of goods will rise up.

Explanation: According to a law, the higher the demand , there is a corresponding increase in the price. As a result of the lower interest rate of mortgage loans, more people have access to loan which leads to an astronomical increase in the number of house owners. Market experience more demand and therefore the prices of housing will rise up. It’s only obeying the law of demand and supply which states that the greater the demand, the higher the price.

7 0
2 years ago
Read 2 more answers
Select the items that describe how business investments can cause economic growth.
NikAS [45]
Investments can lead to more demand for goods. Investment means an increase in capital spending and is a component of Aggregate Demand (AD), if there is an increase in investment it will help to boost AD and therefore economic growth.
4 0
3 years ago
Stock Z is trading at $50 today. In one year, the value will go either up to $62.50 or down to $40. A call option on Z with exac
PilotLPTM [1.2K]

Answer:

0.33

Explanation:

Delta = (Cu – Cd)/(Su – Sd)Cu

= 62.50 – 55 = 7.50

Cd = 0

Delta = (7.50 – 0)/(62.50 – 40)

= 0.33

5 0
3 years ago
When writing a message to express condolences, you should mention the loss tactfully, recognize the good qualities of deceased,
Romashka-Z-Leto [24]

When writing a message to express condolences, you should mention the loss tactfully, recognize the good qualities of deceased, assure the receiver of your concern, offer assistance, and <u>conclude on a reassuring note.</u>

Explanation:

Certain points that are to be kept in Mind when writing a  Condolence Messages  are:

  • Don't unintentionally say the wrong thing in a sympathy message
  • The Condolence message should be short and crisp
  • In the message try to recall a funny memory of the deceased.
  • In the message ,you should not simply sign rather mention your full first and surname.
  • Don't mention any financial obligation of the deceased or offer any financial help
  • Don't try to offer any other help like cooking a good meal

Thus we can say that ,When writing a message to express condolences, you should mention the loss tactfully, recognize the good qualities of deceased, assure the receiver of your concern, offer assistance, and <u>conclude on a reassuring note.</u>

3 0
3 years ago
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