When milk has an absolute advantage in the production of two goods over Tommy, Milk IS MORE PRODUCTIVE IN PRODUCING BOTH GOODS THAN TOMMY.
A country or an individual is said to have absolute advantage in producing a good if the person can produce the good more efficiently economic wise.
Answer:
$48
Explanation:
Calculation the minimum transfer price that the Heating Division should accept
Using this formula
Minimum transfer price=[New UVC + (Lost USP - Regular UVC)]
Let plug in the formula
Minimum transfer price=$28+ ($40- $20)
Minimum transfer price=$28+20
Minimum transfer price= $48
Therefore the minimum transfer price that the Heating Division should accept is $48
<span>When the economist says that material wants are insatiable, he means that these wants are virtually unlimited and therefore incapable of complete satisfaction. Insatiable means that they are impossibly to satisfy. In the economic world it is best to make use of the limited resources to help satisfy virtually unlimited wants. </span>
Given that a<span>
factory machine was purchased for $375000 on january 1, 2018. it was
estimated that it would have a $75000 salvage value at the end of its
5-year useful life. it was also estimated that the machine would be run
40000 hours in the 5 years. the company ran the machine for 4000 actual
hours in 2018.
If the company uses the units-of-activity method of
depreciation, the amount of depreciation expense for 2018 would be
</span>
It had almost exclusive control of the world's supply of diamond deposited, utilized to make diamond jewelry.
<h3>What is Monopoly?</h3>
A scenario known as monopoly occurs when there is only one seller in the market. The monopoly case is viewed as the polar opposite of perfect competition in conventional economic analysis. The industry's downward-sloping demand curve is, by definition, the demand curve that the monopolist faces.
A monopoly is described as a single producer or seller who forbids rivals from offering the same product. A monopoly has the power to set prices and makes it difficult for rivals to enter the market. A market arrangement known as a monopoly consists of a single seller who has complete authority over a good or service. The prefix polein, which comes from Greek and means "to sell," and the word mono both indicate single or one.
Hence, It had almost exclusive control of the world's supply of diamond deposited, utilized to make diamond jewelry.
To learn more about Monopoly refer to:
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