Usually it isn't done much, because of the penalty of bad grades, and because frankly, the professors have seen it before, and therefore, only the boldest would consider it.
The options are:
(i) The quantity of output that Dave produces (ii) The quantities of output that the other firms in the market produce (iii) The extent of collusion between Dave and the other firms in the marketa. (i) and (ii)b. (ii) and (iii)c. (iii) only d. All of the above
Answer:
d. All of the above
That is
(i) The quantity of output that Dave produces
(ii) The quantities of output that the other firms in the market produce
(iii) The extent of collusion between Dave and the other firms in the market.
Explanation:
An oligopoly is defined as an economy where there are small number of firms that cannot prevent others from having much impact in the market. These firms control the way are done with regards for price.and supply of goods and services.
So in this type of market the profit earned by Dave will depend on quantity of output produced by Dave, quantity of goods manufacturerd by other firms, and Dave's degree of collusion with other firms.
Answer:
Job Cost Card/ Record
Explanation:
A Job cost record accounts for all costs related to the job or order. It is unique to specific order. Therefore, this is a useful tool to deal with situations where firms produce in accordance with customer specifications.
Answer: c. tax increase of some amount less than $45 billion
Explanation:
Increasing taxes will have the effect of reducing the Consumption in the Economy as it will reduce the disposable income that people have to spend on goods and services. It is therefore an option to bring the Economy back down to fill employment.
However, when the Taxes are increased, they should be increased by an amount less than the $45 billion because Taxes have a Multiplier effect meaning that an increase in taxes will slow down the economy more than the increase itself. This is why it should be an amount less than 45 billion especially having taken the Multiplier into account so that a good estimate of the amount needed will be ascertained.
