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1 year ago

In which type of market structure might we see firms attempting to collude with one another to set prices?

Business

1 answer:

V125BC [204]1 year ago

7 0

In a cartel type of market structure might we see firms attempting to collude with one another to set prices.

Due to a large number of companies, the market share held by each player is small and cannot affect the product price. Therefore, an agreement between companies is not possible. Moreover, exclusive competition thrives on innovation and diversity. A duopoly occurs when two companies dominate the market for a particular product or service.

Collusion occurs when market structure oligopolistic firms make joint decisions and act as if they were a single firm. Collusion requires explicit or implicit agreements between cooperating firms to limit production and achieve monopoly prices.

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Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity i

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Answer: a.fixed factory overhead volume variance.

Explanation:

Fixed overhead costs are the costs that are incurred by an organization that doesn't change even when the lre is a change in the volume of production activity. The fixed overhead costs are vital in order for the effective operation of the company.

When the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the a.fixed factory overhead volume variance.

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3 years ago

The impetus that pushes consumers to satisfy their unmet needs, such as having no laundry detergent to do the wash, is a(n) Blan

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The impetus that pushes consumers to satisfy their unmet needs, such as having no laundry detergent to do the wash, is a motive.

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1 year ago

An increase in the price level shifts ae curve

PilotLPTM [1.2K]

Answer is b ...........................................................

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2 years ago

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United Apparel has the following balances in its stockholders' equity accounts on December 31, 2021: Treasury Stock, $700,000; C

Sergio [31]

Answer and Explanation:

The preparation of stockholders' equity is shown below:-

Stockholder's equity Statement

December 31, 2021

Particulars Amount ($)

Paid-in capital

Preferred Stock $2,100,000

Common Stock $450,000

Additional paid in capital $7,300,000

Total paid in capital $9,850,000

Add:Retained earnings $1,450,000

sub total $11,300,000

Less: Treasury stock $700,000

Total stockholders' equity $10,600,000

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3 years ago

If the price of cocoa rises by 20 percent, the quantity supplied of cocoa rises by 4 percent. What is the elasticity of supply?

Talja [164]

Answer: 0.2

Explanation:

Elasticity of supply shows the responsiveness to the quantity supplied for a good or service to changes in market price. Supply is Elastic if its elasticity is greater than 1 and inelastic if elasticity is less than 1

Elasticity of supply = Percentage change in quantity supplied / Percentage change in Price

= 4%/ 20%

=0.2 which is inelastic.

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3 years ago