Answer:
Explanation:
First scenario: The answer is No, not many sellers. The drug of the pharmaceutical company has patent right and it is the only firm selling this product. This makes the company a monopolist (single seller)
Second scenario: No, not an identical product. Cable company and phone company produce different products. Cable companies majorly deal with television access.
Third Scenario: no, not many sellers. One firm is dominating the market and customers prefers this. Its product has been differentiated and it can charge its own price.
Fourth scenario: yes,meets all assumptions. The socks are identical and consumers do not care about the seller because the same utility will be derived from the socks.
The IMF (international monetary fund) is responsible for the stability of the world's financial system - by providing stability, it encourages the trade - it assures the members that they won't loose their investments.
The World Trade Organisation has a more direct effect on the trade. It directly regulates (and sometimes monitors) the trade, making sure that the trade is free and the rules of the trade are predictable. The WTO also deals with any conflicts between the parties involved in the trade.
Answer: Discrete manufacturer
Explanation: Soyan Inc. is a discrete manufacturer and as such is involved in the production of distinct (noticeably different from other) items that can be characterized by unit production; where units can be produced with high complexity and low volume. Light to semi-light utility vehicles with armors that are used in war zones, disaster-struck areas, and harsh terrains (automobiles), furniture, toys, smartphones, and airplanes are examples of such items. These distinct items are capable of being easily counted, touched or seen and the production orders and products of distinct manufacturing changes frequently from order to order.
Answer:
$2,600
Explanation:
The computation of the inventory value is shown below:
Market value = 200 units × $16
= $3,200
And, the cost is
= 200 units × $13
= $2,600
So the lower of cost or market value would be considered
Since $2,600 would be lower so the same would be equivalent to the inventory amount
