All categories

3 years ago

An industry that has many companies offering the same basic product, but with some slight difference is

1 answer:

6 0

An industry that has many companies offering the same basic product, but with some slight difference is B. monopolistic competition.

Monopolistic competition is found in industries where slight differences of a product is possible but they basically offer the same thing. A few examples of monopolistic competition are those in the restaurant or hospitality career field. These businesses offer food or hotel rooms which are what their competitions offer as well, but what they include within their packages or their food offerings may differ.

You might be interested in

Wetherald Products, Incorporated, has a Pump Division that manufactures and sells a number of products, including a standard pum

algol13

Answer:

Minimum transfer price = $86

Explanation:

Pump Division is operating at full capacity, hence it has no excess capacity

This implies that it can not produce enough to meet both the internal demand (from the Pool Division ) and external buyers.

Hence, it implies that Pump Division cannot accommodate the demands of the Pump Division at a price lower than the external price of $86. Any price lower than $86 would result into a loss in contribution.

To maximize and optimize the group profit, the minimum transfer price should be set as follows:

Minimum transfer price = External selling price at which Pump Division sells to outside customers

Minimum transfer price = $86

7 0

2 years ago

Suppose a banking system receives a new deposit of $1,000. If the reserve requirement is 20%, by how much can the total volume o

AnnZ [28]

Answer:

Increase in initial deposit will be $4000

Explanation:

We have given initial deposit = $1000

Required reserve ratio = 20 % = 0.2

We have to find the total increase in deposit

We know that total increase in deposit = $\frac{intial\ deposit}{required\ reserve\ ratio}-initial\ deposit$

So We know that total increase in deposit = $\frac{1000}{0.2}-1000=$4000$

So increase in initial deposit will be $4000

7 0

2 years ago

The production possibilities curves suggest that:A) West Mudville should specialize in, and export, baseball bats.B) workers wil

11Alexandr11 [23.1K]

Answer:

A is the correct option.

Explanation:

West Mudville should specialize in and export baseball bats.

Production possibility curve illustrates the amount of two different goods which can be produced when there is fixed availability of a resource which both the items use for manufacture. In PPC it is assumed that the production will be optimally efficient. It is known as transformation curve. In macroeconomics it represent the point where country's economy is most efficiently producing goods and services, hence allocating the resources in the best way.

3 0

3 years ago

At the current price level, producers supply $375 billion of final goods and services while consumers purchase $355 billion of f

BigorU [14]

<span>above equilibrium.
~~~~~~~~~~~~~~~~~
(Make me brainliest if ya feel so)</span>

3 0

3 years ago

The spread of the coronavirus in the U.S. has had negative effects on the U.S. economy. GDP growth rate went negative (-5.8%) in

Oksi-84 [34.3K]

Answer:

The Coronavirus pandemic took the world by surprise and most people were not ready for the far reaching quarantine measures that were put in place. These measures along with the general fear of the disease meant that Consumers were demanding less of goods and services which had the effect of shifting the Short Run Demand curve to the left.

The world also saw travel restrictions put in place which were a serious blow to international commerce because suppliers found it hard to source goods. This reduced the supply of goods and services which also meant that the Short Run Aggregate Supply Curve shifted to the left as well.

The New Equilibrium led to a way lower output at Y¹ which is shows why GDP growth fell into negative.

As a result of decreased output and quarantine measures, companies could not afford to keep their employees and had to let go of a lot of them. This is why the Unemployment rate went up as well.

3 0

3 years ago