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Nat2105 [25]
2 years ago
11

In which business did andrew carnegie create a monopoly?the steel businessthe oil businessthe automobile businessthe telephone b

usiness
Business
1 answer:
Svetlanka [38]2 years ago
3 0

The steel industry provides the solution. The Carnegie Steel Company was started by him.

In Braddock, Pennsylvania, Carnegie started constructing his first steel factory, the Edgar Thomson Steel Works, in 1872. In 1874, the Thomson Steel Works started making rails. The mill produced inexpensive steel that was sold for a significant profit in the expanding markets of industrial expansion thanks to a combination of low labor, efficient technical infrastructure investment, and an efficient organization. By himself, Carnegie calculated a return on investment of 40%, or a profit of $40,000 from a $100,000 investment in the mill.

The Edgar Thomson Steel Works' profits were sizable enough to allow Carnegie and his business partners, Henry Clay Frick, his cousin George Lauder, and Henry Phipps Jr., to purchase more local steel mills.

Learn More about Carnegie:

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Solving for the sales level needed to achieve a profit of zero is the same process as solving for the sales level needed to ____
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Answer: break-even

Explanation:

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2 years ago
If a beneficiary is enrolled in a ma-only hmo and they also sign up for a pdp plan, they will be automatically dropped from thei
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6 0
1 year ago
Suppose your nominal income this year is 5 percent higher than last year. if the inflation rate for the period was 3 percent, th
Lisa [10]
C. increased by 2 percent

5 - 3 = 2
3 0
3 years ago
Lakeside Inc. produces a product that currently sells for $57.60 per unit. Current production costs per unit include direct mate
Sidana [21]

Answer:

It is convenient to make the changes.

Explanation:

Giving the following information:

Selling price= $57.60 per unit.

Direct materials= $22

Direct labor= $24

Variable overhead= $11.00

Fixed overhead= $11.00.

New costs:

Direct material cost= 22*1.2= $26.4

Direct labor cost= 24*1.2= $28.8

<u>I suppose that the selling price will increase by $40.</u>

To determine whether the changes increase profit or not, we need to calculate the unitary contribution margin per unit for both options:

Contribution margin= selling price - unitary variable cost

Actual Contribution margin:

Contribution margin= 57.6 - (22 - 24 - 11)= 0.6

New contribution margin:

Contribution margin= 97.60 - (26.4 - 28.8 - 11)= $31.4

5 0
3 years ago
When Nike purchases it's raw materials it wants to ensure they meet a specific quality management standard worldwide. This will
4vir4ik [10]

Answer:

their

Explanation:

Nike should purchase it's raw materials from organizations that meet ______their_______________ standards.

6 0
3 years ago
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