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Alenkasestr [34]
2 years ago
14

During the 1990s, one of the dominant firms in the U.S. cigarette industry would raise prices once or twice a year by about 50 c

ents per carton. Other firms in the industry typically raised their prices by the same amount. This is an example of:price skimmingprice leadershipa kinked demand curveprofit maximizationpredatory pricing
Business
1 answer:
ahrayia [7]2 years ago
3 0

Answer: price leadership

         

Explanation: Price leadership is a circumstance where one business, typically the dominant one in its market, sets prices that its rivals follow closely.

This business is typically the one with the minimum cost of production, thus being able to outperform the prices charged by any rival who tries to set their prices below the price range of the market leader.

Rivals could increase prices than the cost leader, but this would likely lead to lower share of the market unless rivals were able to distinguish their goods adequately.

Hence from the above we can conclude that the given case depicts price leadership strategy.

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Answer:

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6 0
3 years ago
U.S. car dealers sell both used cars and new cars each year. However, only the sales of the new cars count toward GDP. Why does
Airida [17]

Answer:

It will be double counting

Explanation:

GDP or gross domestic product is the measure of the total value of productions in the economy per period. In calculating the GDP, economists consider only finished products produced within the borders of a country in a financial year.

Second-hand cars cannot be counted in the calculation of GDP because it will result in double counting. GDP is calculated using the income, expenditure, or production approach.  The second-hand cars were accounted for when they were purchased or sold for the first time. If the production method was used, the vehicles were accounted for in the year they were manufactured.

3 0
3 years ago
Which of the following journal entries is recorded correctly and in the basic format? a. Salaries and Wages Expense 550, Cash 1,
Yuki888 [10]

Answer:

d.  Salaries and Wages Expense 550, Advertising Expense 950, Cash 1,500

Explanation:

Whenever a new entry is posted firstly the accounts which are debited are entered.

Secondly the accounts which are credited are posted.

And, the total of debit and total of credit shall always be same, so that the entry is recorded properly.

As an expense, it reduces income and is always debited.

And as for settling the expenses cash is paid, cash being an asset when reduced will be credited.

Total expenses debited = Salaries and Wages + Advertising Expense = 550 + 950 = 1,500

Therefore, as against it cash paid = $1,500 shall be credited.

Cash = $1,500

Thus, correct option is d.

5 0
3 years ago
As with all managerial work, arts and
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C. Especially art is what they look for
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A real estate loan where a homeowner receives monthly payments based on accumulated equity rather than a lump sum and is repaid
ivanzaharov [21]

Answer:

reverse annuity mortgage

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The term that is being described is known as a reverse annuity mortgage. Like defined in the question, this is a loan that allows you to cash in some of your home's equity without actually needing to sell the entire real estate property and move out of your home. Instead the loan is secured against the value of your home and monthly payments are paid to the owner that asked for the loan.

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3 years ago
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