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2 years ago

CHAPTER 8, TEST A

Business

1 answer:

Fynjy0 [20]2 years ago

5 0

The marking of the statements 1-18 as true or false is as follows:

1. True. The main similarity among the four market structures is the existence of buyers and sellers.

<h3>What are the four market structures?</h3>

The four market structures are:

Perfect competition
Monopolistic competition
Oligopoly
Monopoly.

They all have buyers and sellers, though, the number differs from one to the other.

2. True. In a perfectly competitive market, buyers and sellers have relevant information about prices, product quality, and sources of supply.

3. True. The stock market is an example of a perfectly competitive market.

4. True. If a perfectly competitive market doesn't satisfy all four characteristics 100 percent, then it is not a perfectly competitive market.

5. True. Profit attracts new firms into the perfectly competitive market.

6. False because there is no ease of entry into a monopolistic market.

7. False. It is not important to a monopolist to search out the best price through trial and error.

8. True. In some towns, cable television providers and trash collectors are monopolists.

9. False. Copyright is not required on medicine to protect a pharmaceutical company from competitors. But a patent is required because copyrights are for intellectual property rights.

10. False. Patents are usually granted for 20 years and not five years.

11. True. Barriers to entry limit potential competition.

12. True. Owning all of a scarce resource can allow a firm to operate as a monopoly without legal protection. This is regarded as a natural monopoly.

13. True. Antitrust laws are meant to control monopoly power and promote competition.

14. True. The Sherman Act prohibits anti-trust actions, which restrain trade.

15. True. A natural monopoly exists when a firm's product is made with resources provided by nature.

16. True. The U.S. Supreme Court decides some antitrust cases.

17. True. The term colluding refers to making secret agreements that reduce competition.

18. True. Taxi and limousine service in New York City is relatively inexpensive due to the ease of entry into that market.

Thus, the marking of statements 1-18 as true or false is completed.

Learn more about monopolies and anti-trust acts at brainly.com/question/8379521

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Answer:

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Since each concert ticket costs $25,

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Since each concert ticket costs $10,

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Answer:

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Explanation:

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Average 150 pound /person

Additional10 pounds/person

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x=1300÷160

x=8,12

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2 years ago

What osi layer encrypts data sent from network

Lelechka [254]

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New Business is just being formed by 10 investors, each of whom will own 10% of the business. The firm is expected to earn $500,

Triss [41]

Answer:

additional income is $11050 if the business is organized as a partnership rather than as a corporation

Explanation:

given data

investors = 10

own = 10%

earn = $500000

corporate tax rate = 34%

personal tax rate = 35 %

to find out

How much additional spendable income

solution

we find here first income if formed as corporation in hand that is

income if formed as corporation = earn × own ( 1 - corporate tax ) × ( 1 - personal tax )

income if formed as corporation = 500000 × 10% ( 1 - 34% ) × ( 1 - 35% )

income if formed as corporation =$21450

and

income will be taxable if form partnership that is

income if formed partnership = earn × own ( 1 - personal tax )

put here value

income if formed partnership = 500000 × 10% ( 1 - 35% )

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2 years ago

What situations would indicate that an increase in turnover might be just what an organization needs?

Basile [38]

Answer:

Explanation:

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