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olasank [31]
3 years ago
9

Explain what happens when markets do not have enough competition.

Business
1 answer:
MatroZZZ [7]3 years ago
3 0

Answer:

The price will be higher and output lower in absence of competition.

Explanation:

When the market does not have enough competition, it provides a certain degree of market power to the existing producers. They are able to regulate prices and output.  

It is likely that the suppliers will provide a fewer quantities of goods at a higher price, in order to maximize their profits. The socially optimal level of output will not be produced in the market.  

The resources will not be efficiently allocated and deadweight loss will exist.

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Mark and Parveen are the parents of three young children. Mark is a store manager in a local supermarket. His gross salary is $7
netineya [11]

Answer:

$367,500

Explanation:

Estimation of the family’s life insurance needs

Using the easy method

Based on the information given we were told that Mark gross salary is $75,000 while is wife

Parveen is a stay-at-home mom this means that we would be using the easy method to estimate the family’s life insurance needs based on Mark gross salary of $75,000 because he is the only one that earn on a monthly basis.

Insurance need =$75,000 x 7 years x 70%

Insurance need = $367,500

Therefore the family’s life insurance needs will be $367,500

5 0
3 years ago
Select the best answer for the question.
BlackZzzverrR [31]

Answer:

hope it helps you ;)

Explanation:

Retail businesses can include grocery, drug, department and convenient stores. Service related businesses such as beauty salons and rental places are also considered retail businesses.

4 0
2 years ago
Why is high quality bond typically considered a lower risk investment than a stock
Solnce55 [7]
A bond typically pays a fixed, predictable amount of interest each year.
8 0
3 years ago
According to Vroom, a manager who presents the problem to the group at a meeting, defines theproblem and its boundaries, and the
Phantasy [73]

Answer:

The correct answer is C

Explanation:

Consult means that the person is seeking or giving advice whether in a group or individually. In this case, manager presents the problem to the group at the meeting, and their define the problem, facilitates discussion so that members could make the decision.

The manager is using the consult style which is individually for the participation of subordinate.

3 0
3 years ago
Which of the following are characteristics of frequency distributions?
Brrunno [24]

Answer:

There are some important characteristics of frequency distribution. They are as follows: Measures of central tendency and location (mean, median, mode) Measures of dispersion (range, variance, standard deviation)

Explanation:

Hope it helps you

Mark my answer as brainlist

have a nice day :)

4 0
2 years ago
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