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1 year ago

a cartel is a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves

1 answer:

4 0

A cartel is a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves.

<h3>Cartels </h3>

Cartels are competitors in the same industry and seek to reduce that competition by controlling the price in agreement with one another. Tactics used by cartels include reduction of supply, price-fixing, collusive bidding, and market carving.

Some examples of a cartel include The Organization of the Petroleum Exporting Countries (OPEC), an oil cartel whose members control 44% of global oil production and 81.5% of the world's oil reserves.

<h3>Types of Cartels</h3>

Price Cartels – They fix the minimum prices per their demand-supply ratio. Members cannot sell products below those prices.

Term Cartels – They agree on business terms on a routine basis. Each member is obliged to follow the terms of trade.

To learn more about Cartels visit the link

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Wexpro, Inc., produces several products from processing 1 ton of clypton, a rare mineral. Material and processing costs total $5

arlik [135]

Answer:

The financial advantage of processing further = $17,800

Explanation:

1. Sale value if processed further = 8,300 x 13 = $107,900

Sale value if processed further = 8,300 x 10 = $83,000

Incremental revenue = Sale value if processed further - Sale value if processed further = $107,900 - $83,000

Incremental revenue = $24,900

Cost of further processing = $7,100

Incremental profit (loss) = Incremental revenue - Cost of further processing

Incremental profit (loss) = $24,900 - $7,100 = $17,800

Therefore, the financial advantage of processing further = $17,800

3 0

4 years ago

Other things being equal, demand is less elastic A. the smaller the percentage of a total budget that a family spends on a good

telo118 [61]

Answer:

The correct answer is letter "D": the more substitutes a good has.

Explanation:

Price elasticity of demand is the result of the relation between changes in price and quantity demanded for a good or service. <em>Price elasticity of demand is calculated dividing the percentage change in quantity demanded by the percentage change in price.</em> If the result is equal to or greater than 1, the demand is elastic. This situation implies a minimum change in price will affect by far the quantity demanded of that good or service.

Thus,<em> products with many substitutes are elastic because a minimal change in their price would represent a large change in quantity demanded since consumers will find similar products that satisfy their needs in the same proportion.</em>

3 0

4 years ago

Barbara Muller Services (BMS) pays its employees monthly. The payroll information listed below is for January 2018, the first mo

Semmy [17]

Answer:

$13,296

Explanation:

Federal unemployment tax rate = 0.8% of 96,000 = 768

State unemployement tax rate = 5.4% of 96,000 = 5,184

Social security tax rate+medicare tax rate = 6.2%+1.45% = 7.65%

7.65% of 96,000 = 7,344

So total tax expense = 768+5,184+7,344 = $13,296

So answer is $13,296

5 0

3 years ago

ABC Company’s budgeted sales for June, July, and August are 15,600, 19,600, and 17,600 units, respectively. ABC requires 30% of

igor_vitrenko [27]

Answer:

= $52,050

Explanation:

First, the question is as follows:

Calculate the number of pounds of raw material to be purchased in June

Solution

Step One: We determine what was produced in June and in July as follows

Budgeted Production = Budgeted sales + The desired closing inventory of finished products - the estimated opening inventory of finished products

Budgeted Production in June= $15,600 + (0.3 x 19,600) - $4,680 (This is the ending inventory figure from May) = $16,800

Budgeted Production in July= $19,600 - (17,600 units x 0.3)- $5,880 (this is the opening inventory calculated for June above) = $19,000

Step 2 : Determine the Purchased raw materials for June

= (Production in June x 3) + Production in July x 3 x 0.25) - (Production in June x 3 x 0.25)

= 50,400 + $14,250 - $12,600 = $52,050

4 0

3 years ago

How is the price elasticity of demand measured? The price elasticity of demand is measured as

Kruka [31]

Answer:

B. the percentage change in the quantity demanded divided by the percentage change in price.

Explanation:

The formula to compute the price elasticity of demand is shown below:

= (Percentage change in quantity demanded ÷ Percentage change in price)

where,

The Percentage change in quantity demanded equals to

= (New quantity - old quantity) ÷ ((New quantity + old quantity)

And, the Percentage change in price equals to

= (New price - old price) ÷ ((New price + old price)

4 0

3 years ago