Answer:
1. Mary McFly invents a time machine and gets legal protection from competition. Patent
2. Main Line Utilities can operate at a lower cost than multiple electric companies. Economies of Scale
3. The author of Economics for Dumbbells is given exclusive rights to produce this book. Copyright
4. Your city council gives All Talk Communication Services exclusive rights to build high speed internet infrastructure in your town.Government licencing
5. DeJeers Jewelers owns 80% of the world's diamond mines. Control over Resources
Explanation:
A monopoly is when there's only one firm operating in an industry.
Economies of scale is cost reduction that accures to a firm as a result of its large scale production. For example, a supplier might give a producer a discount for buying in bulk.
A patent is when the government or an agency of the government gives the right to produce an invention or a good for a set period, others are usually excluded making, using or selling the invention.
Copyright gives the owner of an intellectual property the exclusive right to make copies of a creative work, usually for a limited time.
If a firm has exclusive access to resocurces, it is possible for the firm to prevent other firms from entering into the industry and thus retain monopoly power.
I hope my answer helps you
Answer:
Price 25,800 Favorable
Quantity 9,000 unfavorable
Explanation:
DIRECT MATERIALS VARIANCES
std cost $3.00
actual cost $2.80
quantity 129,000
difference $0.20
The actual cost was lower than standard, the variance is positive.
price variance $25,800.00
<u>we multiply the difference by the actual quantity purchased.</u>
std quantity 126000.00
actual quantity 129000.00
std cost $3.00
difference -3000.00
The actual lbs. used were higher, we use more than expected, the variance will be negative.
efficiency variance $(9,000.00)
<u>We apply the standard cost to each extra lbs used to get the quantity variance</u>
Perfect competition, monopolistic competition, oligopoly, and monopoly.
okay so allocation means to distribute meaning to give out meanwhile judicious means to do something with good judgement. so what I would go with is to hand out with good sense