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kirill115 [55]
3 years ago
12

When one group controls an industry or market by being the only provider, this is called _____.

Business
1 answer:
e-lub [12.9K]3 years ago
6 0
When one group controls an industry or market by being the only provider, this is called MONOPOLY.

Mono - Greek monos means one or single
Poly - Greek polein means to sell.

Monopoly is a market where only one sells a certain good or service. In this type of market there is no competition thus the monopolist is not driven to improve his commodity because consumers have no other choice but to buy his product.
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If a firm in a monopolistically competitive market lowers price, then Use letters in alphabetical order to select options
Valentin [98]

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Explanation:

Monopolistic competition is an imperfect competition where there are many producers that sell products that are differentiated from each another e.g through quality or branding.

In a monopolistic competitive market, firms maximizes profits when marginal revenue equals to the marginal cost. The demand curve of a monopolistic competitive market is downward sloping which means that as price reduces, the quantity demanded for the good will increase.

3 0
3 years ago
Read 2 more answers
If you visited a doctor and the total cost of the visit was $50, but you had a $15
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Answer: $15

Explanation:

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3 years ago
What is a question that should be asked about accounts payable when forecasting?
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Answer:

In forecasting accounts payable, one of the relevant questions is:

What is the cash conversion cycle?

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3 0
3 years ago
Despite facing a struggling economy, abc company offers its employees yoga and healthy cooking classes at lunch and after work.
Blababa [14]
The company is attempting to prove its employees a stress free environment in which they gave them yoga classes and cooking class to lessen the stress that they could acquire from the company because of working. This will allow them to be motivated or to change their moods, and elightens them in doing their job in the company despite of its hard or struggling status.
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3 years ago
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o-na [289]

Answer:

Please find the complete question in the attached file.

Explanation:

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The expected 15-day revenues from 16th July – 31st July may well be calculated as \$2,400 \times 15 \ days = \$36.000. Rocky calculated that it would get the bonus 80\% of the time. Estimates a \$240/day\ bonus \times (10\ days + 15\ days) = \$6,000

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3 years ago
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