Answer:
c. Not accrued Disclosed.
Explanation:
The management has estimated the loss contingency of lawsuit as reasonably possible. The Contingent liability is reasonably possible then it will be disclosed in the Notes to Financial Statements and not accrued in Balance sheet. If the contingent liability is probable then the accrual needs to be made in the Balance Sheet.
<span>Price elasticity of demand is
-1.25 = Ed</span>
Price elasticity of supply =
Es
Share of tax by consumers =
0.80 = Es / (Ed + Es) = Es / Es + 1.25
0.8 Es + 1 = Es
1 / 0.2 = Es = 5
Therefore, the price elasticity of supply is 5
<span> </span>
Answer:
A) Competing firms working together to fix prices and output.
B) Collusion.
C) Illegal
Explanation:
A cartel is when a group of competing producers of a good collude together for their own economic good and benefits. They generally form oligopolistic market structures with coordination and thus can take decision on restricting production of a articular good and influencing prices for their own good.
A collusion thus helps a hand full of companies to dominate the market of a particular product that they all produce. They can even form artificial barriers to entry for new firms as they control all or most of the relevant market forces.
In USA cartels are illegal as per the provision of anti-trust laws.
Hope that helps.
Answer:
62.50 units
$3,866.25
Explanation:
The price function is:
Profit as a function of quantity (P(Q)) is given by:
The quantity for which the derivate of the profit function is zero is the profit maximizing quantity:
The profit-maximizing quantity is 62.50 units
The economic profit for this production volume is:
The firm earns a profit of $3,866.25.
Organizations can achieve a competitive advantage by using their resources to "provide greater value for customers than competitors can".
<u>Option: D</u>
<u>Explanation:</u>
For any organization or any business oriented firm their main target should be only consumers or audience, for whom the firm is actually working to provide any kind of goods and services as per their need and demand. Like an ice-cream firm is well aware about the need of flavor and taste its audience need, but also competitors are pressurizing them to lower or higher the product price, thus inspite of concerning what opponent need better to target audience, who is really a source of good and handsome profit.
