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Brrunno [24]
3 years ago
11

Https://one feature of pure monopoly is that the firm is

Business
1 answer:
Alecsey [184]3 years ago
8 0
One feature of pure monopoly is that the firm is a price maker. This type of monopoly exists when one certain company is only the source for a certain product and there are no any present substitutes in the market. For this case, the business firm is equal to the industry. Due to this, they would have the freedom of setting their own prices since they have the freedom to control their supply.. This type of monopoly is very rare since to do this, the company should be able to block and prevent all possible competitors from entering. Examples of these would be utility companies that are present in certain small towns where they are the only source of the utilities.<span />
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After computing the cost of inventory that was sold, The Cost of Goods sold is given as $1,334.30.

<h3 /><h3>The calculations related to the exercise are as follows:</h3>

From the information provided (see full question attached),

Inventory at hand as at November 1:

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Purchases:

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If at the end of the period there are 25 units each form the purchases above and 7 from the existing inventory as at Nov. 1st, then the cost of goods sold is:


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Learn more about Inventory at:
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