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Artemon [7]
4 years ago
12

3. Problems and Applications Q3 This chapter discusses companies that are oligopolists in the market for the goods they sell. Ma

ny of the same ideas apply to companies that are oligopolists in the market for the inputs they buy. If sellers who are oligopolists try to increase the price of goods they sell, the goal of buyers who are oligopolists is to try to decrease the prices of goods they buy. Major league baseball team owners have an oligopoly in the market for baseball players. The owners' goal is to keep players' salaries . True or False: This goal is difficult to achieve because teams have different budgets. True False Baseball players went on strike in 1994 because they would not accept the salary cap that the owners wanted to impose. True or False: The owners felt the need for a salary cap to help prevent any team from cheating. True False
Business
1 answer:
NARA [144]4 years ago
6 0

Answer: 1. Low

2. False

3. False

Explanation:

1. The owners' goal is to keep players' salaries <u>Low</u>.

As the text says, Oligopolist buyers would try to reduce the price of goods that they buy. In the MLB world, the teams are the buyers and the players are the sellers with the salaries being their price. Team owners will therefore try to keep salaries at a low level so that they make more profit.

2. False

This goal is not difficult to achieve due to budget differences but rather because different payers offer varying contributions to the team's game. Some players push the team forward more and hence are able to demand their fair share. This makes it difficult to cap their salaries.

3. False

They only tried to impose the salary cap so that they could reduce the cost of running the basketball teams and not to prevent teams from cheating. The salaries they were paying were high enough that they felt they weren't making enough profit. So they conspired to impose a salary cap so that they could make more profit.

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A national survey conducted in 2011 among a simple random sample of 1,507 adults shows that 56% of americans think the civil war
kifflom [539]

Answer:

Null : x = 0.56 ; Alternate : x < 0.56

t = (x - 0.56) / (s / √n) : If < tabulated t at α =0.05 , null hypothesis  accepted

If t > tabulated t at α =0.05 , alternate hypothesis is accepted

Explanation:

Hypothesis Testing is used to test the statistical validity of a statement. Null Hypothesis is the neutral hypothesis, signifying equality to the tested value. Alternate Hypothesis is the contradictory hypothesis, signifying deviation from the tested value.

To test 'Proportion of people giving importance to civil rights in american political life' : Let these proportion be = x

<u>Null</u> Hypothesis (H0) : x = 56% = 0.56

<u>Alternate </u>Hypothesis (H1) : x < 56 % , i.e x < 0.56

't' statistic is calculated based on sample : ( x' - u ) / (s / √n)

where : x' = sample mean , u = population hypothesised mean = 0.56 , s = sample standard deviation , n = sample size

If this calculated 't' < tabulated 't' at significance level α =0.05 ; null hypothesis is accepted. It implies average people thinking as mentioned = 56 % (majority)

If this calculated 't' > tabulated 't' at significance level α =0.05 ; alternate hypothesis is accepted. It implies average people thinking as mentioned < 56% (not majority)

4 0
3 years ago
explain three steps an eighth grader should take to create a college savings plan if she is interested in attending a two year t
DedPeter [7]

1. Determine the total cost of the program (tuition, fees, books, cost of living, etc)

2. Determine how much of this they will have to save up for (aka the amount not covered by taking out student loans)

3. Break down that total amount into periodic savings deposits. So if you need $10,000 and you have 4 years, make a plan to save $2,500 a year.

4 0
3 years ago
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One could argue that the Titled Arc was helpful in focusing perceptions to illicit a negative response. Am example of the negative response can be seem in complaints from workers near the Titled Arc, these employees called the arc oppressive.

4 0
3 years ago
If a check correclty written and paid by the bank is incorrectly recorded in the company;s's books for $794 how should this erro
worty [1.4K]

If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794,  this error be treated on the bank reconciliation--- Subtract $45 from the book balance.

What is bank reconciliation?

Bank Reconciliation is an important process in accounting in which organizations match their bank statements with the transactions that are recorded in their general ledger. Preparing a bank reconciliation statement helps businesses to eliminate possible errors in transactions or bookkeeping

What is the journal entry for bank reconciliation?

The journal entries for the bank fees would debit Bank Service Charges and credit Cash. The journal entry for a customer's check that was returned due to insufficient funds will debit Accounts Receivable and will credit Cash.

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6 0
2 years ago
Assume that a company’s dividends per share are projected to grow at 2% each year, its next year’s dividends per share is $1.80,
Alborosie

Answer:

P0 = $60

Explanation:

Using the constant growth model of dividend discount model, we can calculate the price of the stock today. The DDM values a stock based on the present value of the expected future dividends from the stock. The formula for price today under this model is,

P0 = D1 / (r - g)

Where,

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r is the required rate of return or cost of equity

P0 = 1.8 / (0.05 - 0.02)

P0 = $60

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