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nevsk [136]
3 years ago
5

Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of wh

y or why not.
Two taxi companies serve most of the market in a big city. Consumers don't care which taxi company they take—if they decide it's worth taking a taxi, they flag down the nearest one.
The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm permitted to sell the drug.
There are hundreds of colleges that serve millions of students each year. The colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs.
There are hundreds of high school students in need of algebra tutoring services in Denver. Dozens of companies offer tutoring services, and the parents who seek out tutors view the quality of the tutoring at the different companies to be largely the same.
Business
1 answer:
SCORPION-xisa [38]3 years ago
6 0
Two taxi companies scenario does not describe a competitive market, this is because the companies are just two, for a market to be competitive it must have numerous companies offering identical products. The pharmaceutical company scenario is not an example of a competitive company because it is the only one involve in the market and the product been market is just one, a competitive market normally involve many companies. The college and algebra companies scenario describe competitive market because there are many companies that offer basically identical services and the clients can choose from any one of them. The companies have to put in extra work to win customers for themselves.
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A company had average total assets of $937,000. Its gross sales were $1, 099,000 and its net sales were $960,000. The company's
Sergio039 [100]

Answer:

The answer is 1.02

Explanation:

Asset turnover is an effiency ratio and it measures the how efficient a company is using its asset to generate profit.

The formula is Revenue or net sales / total asset

Revenue or net sales = $960,000

Total asset = $937,000

$960,000/$937,000

= 1.02

This ratio means that for every dollar in assets, the company generates $1.02

3 0
3 years ago
Some experts recommend devoting about ________ of the total writing time to the third phase of the writing process.
klemol [59]

Answer:

50%

Explanation:

There are 3 stages of writing namely; pre writing, composing, post writing. 50% of the total writing time is recommended by experts to be devoted to the post writing phase to ensure that the writing is error free and well revised. This allows for a interesting read of the final product. This third phase mainly involves revising/editing and proofreading.

Cheers.

6 0
3 years ago
When horizontally scaling, the allocation of resources is referred to as __________________ and the releasing of resources is re
stiv31 [10]
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6 0
4 years ago
Reagan Corp. acquired one hundred percent of Ford Inc. on January 1, 2016, at a price in excess of the subsidiary's fair value.
Artyom0805 [142]

Answer:

B. $497,000

Explanation:

           Consolidated Balance of Equipment

Excess value at the acquisition                  $110,000

($350,000-$240000)

Book value as on Dec 31 2018 of Ford      $170,000

Book value as on Dec 31 2018 of Regent  $250,000

Less: excess depreciation                          <u>-$33,000  </u> ($110,000/10*3)

Consolidated balance of equipment        <u>$497,000</u>

3 0
3 years ago
Two firms, Gene's Gloves and Wally's Wallets, have factories near a lake. Both firms use a chemical for tanning leather. Some of
m_a_m_a [10]

Answer:

Gene's Gloves was given the right to dump 5,000 gallons of harmful chemicals. It will need to spend $10,000 ($1 per gallon x 10,000 gallons) to substitute harmful chemicals for harmless chemicals in order to keep working.

Wally's Wallet was also given the right to dump 5,000 gallons of harmful chemicals. It will need $60,000 ($3 per gallon x 20,000 gallons) to treat those chemicals and turn them harmless in order to keep working.  

If Gene can sell its right to dump 5,000 gallons to Wally, for a price higher than $5,000 but lower than $15,000, both companies would win:

Gene would spend $15,000 in harmless chemicals but it would have between $5,001 and $14,999 in revenue from the selling of "pollution rights".

Wally will spend $45,000 in treating harmful chemicals but it will have to pay Gene between $5,001 and $14,999 for buying their "pollution rights".

5 0
3 years ago
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