All categories

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

You might be interested in

You have two investments. The value of Investment A at the end of April was $500, at the end of May was $600, and at the end of

IrinaVladis [17]

The total investment stayed at the same constant value which is no changes have appeared from April to June. From April to May, there was no difference between the month to month total investment value (0 = (500+400)-(600+300)). There was also no difference between the month to month total investment value from May to June (0 = (600+300)-(400+500)).

7 0

4 years ago

On December 31, 2021, Filipe Company had 300,000 shares of common stock issued and outstanding. Filipe issued a 7% stock dividen

Naya [18.7K]

Answer:

290,750

Explanation:

Weighted Average shares as at September 30,2022 300,000*9/12=225,000

Weighted Average share as at 31 December 2022 (300,000-37,000)*3/12=65,750

Total Weighted Average Shares to be used in basic EPS computation =225,000+65,750=290,750

4 0

3 years ago

Stella earns $750 per week working as an analyst for A-Plus Accountants. She uses $40 to get her car detailed at Spotless Car Wa

pshichka [43]

Answer:

2. Nathan spends $50 to purchase tax services

4. Stella spends $40 to get her car washed.

Explanation:

product market is the marketplace in which final goods or services are offered for purchase by businesses and the public sector. Focusing on the sale of finished goods, it does not include trading in raw or other intermediate materials.

5 0

4 years ago

The US inflation rate is measured by changes in the overall price of the CPI __________.

Helen [10]

The answer is B Market Basket.

6 0

4 years ago

Fournotts Corp., a sports shoe manufacturer, launched a new sports shoe.As a part of publicity, it invited its customers to try

kaheart [24]

Answer: (A) Experiential marketing

Explanation:

Experiential marketing is basically provide the ability for evaluating the the personal connection in which the customer are ware about the products and the services which is provided by an organization.

This marketing techniques helps in increase the demand of the customer more personalization.

According to the given situation, the Fournotts corp. is one of the sports shoe manufacturer and for the publicity the organization invited the consumers for shoes trial and this refers to the experiential marketing strategy.

Therefore, Option (A) is correct.

6 0

4 years ago