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Scrat [10]
3 years ago
10

A monopolist will earn economic profits as long as his price exceeds. True or False

Business
1 answer:
Natali [406]3 years ago
8 0

Answer:

Answer is True

Explanation:

With an understanding of economic profit which is the difference between the revenue received from the sale of a finished product and the total input cost. A monopolist will always earn economic profit because he is the price regulator for the product and does not have a competitor.

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If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 unit
Ksenya-84 [330]

Answer:

-0.33

Explanation:

The calculation of the price elasticity of demand using mid point formula is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)  

where,  

Change in quantity demanded is

= Q2 - Q1

= 80 units - 100 units

= -20 units

And, the average of quantity demanded would be

= (80 units + 100 units) ÷ 2

= 90 units

Change in price is

= P2 - P1

= $2 - $1

= 1

And, the average of the price is

= ($2 + $1) ÷ 2

= 1.5

So, after solving this, the price elasticity of demand is -0.33

7 0
3 years ago
Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using what kind of pricing
cricket20 [7]

Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using a block pricing strategy.

A product is an object, system, or service provided to consumers on demand. That's all we can offer to the market to meet your wants and needs.

Item is for sale. Products are services or items. It can be in physical or virtual or cyber form. All products are made at one price and sold at one price. Calculated prices vary by market, quality, marketing, and target segment.

Learn more about products here:brainly.com/question/25922327
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8 0
1 year ago
Prepare Journal Entries in a Revenue Journal Horizon Consulting Company had the following transactions during the month of Octob
Alexeev081 [22]

Answer and Explanation:

The recording and the computations are as follows

a. The recording of the October revenue transactions are shown below:

DATE INVOICE NO. ACCOUNT DEBITED POST.REF.  

ACCOUNT REC. DR.  FEES EARNED CR.

Oct 2       321        Pryor Co.  

380

Oct 3        322         Armor Co.  

540

Oct 14        323         Pryor co.  

190

Oct 24        324        Rose co.  

790

Oct 31    1900

b) Now the total amount for account receivable and fees earned is

Account receivable = 1900

Fees earned = 1900

c) The October 31 balance is

October 31 balance

= $380 + $190 - $380

= $190

5 0
3 years ago
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________ influences include an individual's motivations, perceptions, ability to learn, and attitudes. A. Personal B. Psychologi
ira [324]
Try B. Psychological
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3 years ago
Percent of all profits and losses, this extra allocation indicates total goodwill of $150,000, which must be split among all par
ivann1987 [24]
This fact is true, but is this a question?
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