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2 years ago

When companies join together to try to control prices or eliminate competition so that they exclusively benefit, it is called?

1 answer:

7 0

When companies join together to try to control prices or eliminate competition so that they exclusively benefit, it is called collusion.

Collusion occurs in oligopoly market, when oligopoly firms make joint decisions, and act as if they were a single firm to control prices or eliminate competition. Collusion requires an agreement between cooperating firms, the agreement can be either explicit or implicit, in order to restrict output and achieve the monopoly price.

So this causes the firms to be interdependent, as the profit levels of each firm depend on the firm’s own decisions and the decisions of all other firms in the industry.

Hence, an example of illegal collusion is a secret agreement between firms to fix prices.

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You might be interested in

what is the total amount of final goods and service produced in a country that people, businesses, governments, and foreigners p

Bas_tet [7]

The total amount of final goods and service produced in a country that people, businesses, governments, and foreigners plan to buy is Gross domestic product (GDP).

<h3>What is Gross domestic product (GDP)?</h3>

GDP is a metric for a country's economic output. GDP is a measure of the overall economic output of new products and services in a particular year.
The circular flow diagram can be used to illustrate GDP as a flow of income moving in one direction and expenditures on resources, products, and services moving in the opposite way.
According to this model, households purchase goods and services from businesses, and vice versa.
The circular flow figure shows how the national income calculation methods of using income and expenditures are equivalent.
Money (revenue from the sale of the commodities, services, and resources) travels counterclockwise in this picture while goods, services, and resources go clockwise.

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5 0

1 year ago

GDP per person tells us the income and expenditure of the a. richest person in the economy. b. poorest person in the economy. c.

ale4655 [162]

Answer:

The correct answer is letter "C": average person in the economy.

Explanation:

The Gross Domestic Product (GDP) measures the level of output of a country given a certain period -by quarter and year, usually. It considers <em>government expenditures, private investments, consumer spending, </em>and <em>net exports </em>(exports minus imports).

The GDP per capita represents the GDP per person and is calculated by dividing the GDP by the population of a country. GDP per capita represents an approximate of the expenses of an individual. Smaller richer countries such as Luxembourg or Switzerland tend to have higher GDP per capita.

8 0

4 years ago

Question

Crank

In the evolution of the internet e-commerce allows people to make transactions online is the event occurred most recently.

<h3>Why e-commerce has grown up so much?</h3>

Today ecommerce has very vast market online and people are likely to sell and purchase the things online rather than going to physical market.

The increase in e-commerce has brought the emergency of online payment of the goods and services in the ecommerce.

Thus, option A is correct.

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7 0

2 years ago

Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent. $200

PIT_PIT [208]

Answer:

Normal:

$ 3,509.7470

$ 563.7093

$ 2,000.00

Due:

$3,930.9167

$ 597.5319

$ 2,000.00

Explanation:

We solve using the formula for common annuity and annuity-due on each case:

$C \times \frac{(1+r)^{time} }{rate} = FV\\$

$C \times \frac{(1+r)^{time} }{rate}(1+rate) = FV\\$ (annuity-due)

<u>First:</u>

C 200.00

time 10

rate 0.12

$200 \times \frac{11+0.12)^{10} }{0.12} = FV\\$

$200 \times \frac{11+0.12)^{10} }{0.12}(1+0.12) = FV\\$

Normal: $3,509.7470

Due: $3,930.9167

<u>Second:</u>

$100 \times \frac{(1+0.06)^{5} }{0.06} = FV\\$

$100 \times \frac{(1+0.06)^{5} }{0.06} (1+0.06)= FV\\$

$563.7093

$597.5319

<u>Third:</u>

No interest so no time value of money the future value is the same as the sum of the receipts regardless of time or being paid at the beginning or ending.

1,000 + 1,000 = 2,000

4 0

3 years ago

PLEASE HURY

horsena [70]

Answer:

your answer is C I am not 100% sure

7 0

3 years ago