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Elden [556K]
3 years ago
12

Bob is hired by Carol to collect outstanding balances owed to her by her customers. However, Bob is not an attorney and cannot f

ile a lawsuit against those who don't pay. Bob hires Mike, who is licensed to practice law, to help him file a lawsuit against those who don't pay. What is Mike?
Business
1 answer:
Sliva [168]3 years ago
4 0

Answer:

A sub-agent

Explanation:

Since Mike who was hired by Bob is licensed to practice law, which would help him file a lawsuit against those who don't pay the outstanding balances owed, he is a sub-agent.

A sub-agent in legal law is someone who performs a fiduciary duty and incurs the same liabilities in regard to his immediate employers, like the sole principal.

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Which of the following characteristics differentiates a firm in an oligopolistic market from a firm in a perfectly competitive m
Oliga [24]

Answer:

A) A firm in an oligopolistic market has to consider its own impact on price when making production decisions

Explanation:

A perfectly competitive market is a market with many firms selling identical product. There are free entry and free exist and the decision of a firm does not affect the price in the market as all firms are price takers. Therefore, each firm is independent under perfectly competitive market and production decisions of a firm in a perfectly competitive market does not affect the price in the market nor will it cause any reaction from other firms.

However, Oligopolistic market is a market where there are few firms which are 3 or more firms but not more than 20 firms selling identical or differentiated product.. Firms in oligopolistic market are interdependent which implies that the decision of one firm can affect price and this can cause reaction from other firms and then lead to a price war. A price war occurs when each firm continually reduces its own price in order to increase its market share which causes other firms to react reducing their own prices and this will make none of the firms to gain in the end. In order to avoid the price war, each firm in an oligopolistic market has to consider its own impact on price when making production decisions.

6 0
2 years ago
Suppose there is a major technological issue in the production of a good that causes production costs and prices to rise. If dem
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If the market for a good that sees its production costs and prices rise is inelastic, the quantity demanded will not change.

<h3>What is inelastic demand?</h3>

A good that has inelastic demand is one that will not see its demand change much when there is a price change.

This means that demand remains more or less the same even if prices rise. Examples of such goods are water and food. The product above will therefore not see its demand change by much.

Find out more on inelastic demand at brainly.com/question/24384825.

3 0
2 years ago
Do you believe that the world has changed for the better, or for the worse?
taurus [48]
I think both, my reasons are, first, we have more technology and better transportation that will help us, like the technology to take and give to others, and the cars and trains ect. to help us to get from one place to another a bit quicker. Also i think worse because of the green house causes, the  cars,oil,and other things we use in our everyday life is slowly ruining the planet, ecosystem ect. there are downsides and upsides to both. 
5 0
3 years ago
What is the biggest difference in who makes the contributions to 401(k) and IRA retirement plans?
allsm [11]
In a 401k the employer usually matches a percentage and if you are lucky dollar for dollar, where in an IRA it is does an an extra option with a set amount of money usually 2500 or more for each IRA contribution.
5 0
3 years ago
U.S. appliance manufacturers find that different customs about shopping must be used to determine product design. For instance,
kvv77 [185]

Answer:

U.S. appliance manufacturers would be more likely successful if they used a <u>Transnational</u> marketing strategy

Explanation:

Transnational marketing strategy is a more personalized approach to selling and marketing with target customers need, shopping preferences and specifications put into consideration in the designing of the goods and services.

This strategy applies to the U.S. appliance manufacturers selling to different countries.

Therefore, people in Northern Europe who shop only once a week will be presented with bigger refrigerators while Southern Europeans who shop daily can opt for smaller ones.

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3 years ago
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