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guapka [62]
2 years ago
15

When an oligopoly exists, how many producers dominate the market?

Business
2 answers:
vesna_86 [32]2 years ago
8 0
The oligopoly is known to have a one producer dominating the market. This results in a few suppliers/sellers in the market, and thus can cause a high increase in the price of the products that are being sold in its respective community.
Sati [7]2 years ago
5 0

the answer is A FEW.

hope this helps......

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A firm sells a product in a purely competitive market. The marginal cost of the product at the current output of 200 units is $4
posledela

Answer:

D. Should Shut Down

Explanation:

A perfect competition firm is at profit maximising equilibrium where : Marginal Revenue [Price] = Marginal Cost .

If MR > MC : Firm's additional production is profitable, it tends to increase production. If MR < MC : Firm's additional production is loss making, it tends to decrease production.

However, If firm's Price i.e MR < Average Variable Cost : The firm's per unit price is even unable to cover it's per unit average variable cost. This situation is referred to as 'Shut Down' point & firm should close down its production in the case.

Given : MR = P = 3 ; MC = 4 ; AVC = 3.5 . The firm's price P (3) is not only lesser by its Marginal Cost MC (4), to decrease production ; but also lesser than its Average Variable Cost AVC (3.5) . So, the firm should shut down.

7 0
3 years ago
Cyclical unemployment is BEST described as unemployment arising from
Ira Lisetskai [31]

Answer:

Contraction cycle or Recession

Explanation:

The cyclical unemployment is due to the cycles of economy ( expantion:Grow and contraction: recession) Under these circumstances unemployment is considered normal as the economy cannot sustain itself always in an expansion cycle.

3 0
3 years ago
With an aim of a diagram, distinguish between the income effect and substitution effect of change in price of a normal good​
Nana76 [90]

Hello. You did not present a diagram to which the question refers. However, I will try to help you in the best possible way.

The income effect is the term related to the increase or decrease in the consumer's purchasing power in relation to the fluctuation in the price of consumer products and the value of the national currency. On the other hand, the substitution effect refers to the impact between the variation of the consumers' income value and the product's prices.

4 0
2 years ago
Accounting: explain the weakness in internal control and identify the internal control principle that violated?1. Each week, Kat
natita [175]

Answer:

1.Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.

physical controls

2.The store manager personally approves all payments before signing and issuing checks.

segregation of duties

3.The company checks are unnumbered.

documentation procedures

4.After payment, bills are “filed” in a paid invoice folder.

documentation procedures

5.The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.

independent internal verification

Explanation:

1.Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.

physical controls

2.The store manager personally approves all payments before signing and issuing checks.

segregation of duties

3.The company checks are unnumbered.

documentation procedures

4.After payment, bills are “filed” in a paid invoice folder.

documentation procedures

5.The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.

independent internal verification

7 0
2 years ago
Assuming the Sporty line is discontinued, total fixed costs remain unchanged, and the space formerly used to produce the Sporty
Svetllana [295]

Answer:

c. Increase of $192,500

Explanation:

Note: The full question is attached

Particulars                 Luxury Amount$

Sales                                $950,000

(380000*250/100)

Less: Variable cost          $612,500

(245000*250/100 )          <u>                   </u>

Total contribution            $337,500

Less: Fixed expenses      <u>$80,000  </u>

Net Operating Income    <u>$257,500</u>

Change in Operating Income = New Profit - Existing profit = $257,500 - $65,000   = $192,500

Hence, there is an increase of $192,500

8 0
3 years ago
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