Answer:
D. Earn short run economic profits
Explanation:
A cartel can be defined as a formal agreement reached (collusion) in an oligopolistic industry between two or more business firms that are saddled with the responsibility of producing goods and services in order to make price and output decisions such as price regulation, total level of output or supply, allocation of customers, market shares, territory allocation, division of profits, collusive bidding etc.
This ultimately implies that, when a group of independent firms in an oligopolistic industry collude by reaching a formal agreement to regulate supply, as well as manipulate or regulate prices, they do so to increase their profits and market dominance.
Hence, firms colluding earn short run economic profits.
Answer and Explanation:
The journal entry to record the impairment is as follows:
Loss on impairment of equipment $223,000 ($583,000 - $360,000)
To Accumulated depreciation- Equipment $223,000
(Being the impairment is recorded)
Here the loss would be debited as it increased the losses and accumulated depreciation is credited as it decreased the assets
Answer:
The thrust of their concern is biasness and the fact that people would not be able to make informed decisions.
Yes I agree with this concern
Explanation:
Today so many media stations and outlets are owned by different corporations or conglomerates. So it is very possible that these media outlets are influenced by the corporations Which own them.
The main concern of critics is that these media outlets would begin to put forward biased contents and they would stop serving the public when they overlook the shortcomings of these corporations. Thereby making people unable to make informed decisions which is crucial for democracy.
Corporate media is actually a good idea since it creates a healthy competition. What is necessary is a check by the government so as to avoid biasness. Making publication of real news and enhancing informed decision making.
