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3 years ago

Which of the following best explains why the media industry is characterized

Business

2 answers:

Gwar [14]3 years ago

7 0

Answer:

The answer is C. Government licensing allows media companies to have a near monopoly.

Explanation:

Not anyone can start a media company just because they want to. There are barriers to entry such as the large capital expenditure, staffing, and the government licensing.

Among these, the major contributor towards the marketto become an oligopoly is the government licensing process.

There are many things to consider and do during the licensing process and it is highly time consuming as well. Moreover, the costs involved is significantly high as well.

trapecia [35]3 years ago

5 0

Answer:

C. Government licensing allows media companies to have a near monopoly.

Explanation:

An oligopolistic market is a market structure with a few numbers of firms, each firm has no control over the no firms. In an monopolistic market, there is barrier to entry and exit, and each firm can trade either differentiated or identical.

The media company is characterized with an oligopolistic market because of the monopolistic power given to few media companies.

The monopolistic power hinders just anyone to come into the industry, hence there is barrier to entry and exit.

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Suppose the own price elasticity of demand for good X is -3, its income elasticity is -2, its advertising elasticity is 4, and t

Andrew [12]

Answer:

a. 21 percent

b. -20 percent

c. -8 percent

d. -8 percent

Explanation:

Own price elasticity = -3

Income elasticity = -2

Advertising elasticity= 4

Cross price elasticity = -2

Formula for elasticity is given by,

$Elasticity = \frac{Percentage change in Quantity}{Percentage change in factor}$

a. When price of good X decreases by 7 percent.

$Elasticity = \frac{Percent change in quantity}{Percent change in own price}$

$-3 = \frac{Percent change in quantity}{-7}$

$Percent change in quantity = (-3) * (-7) = 21$

Thus, as price decreases by 7% quantity rises by 21%.

b. The price of good Y increases by 10 percent.

$Corss- price elasticity = \frac{Percent change in quantity}{Percent change in Price of good Y} \\ -2 = \frac{Percent change in quantity }{10} \\Percent change in quantity = (-2) * (10) \\ = -20$

Thus, as price of good Y increases by 10 percent, demand for good X falls by 20 percent.

c. Advertising decreases by 2 percent.

$Elasticity = \frac{Percent change in quantity}{Percent change in advertising} \\4 = \frac{Percent change in quantity }{-2} \\Percent change in quantity = (-2) * (4) \\ = -8$

Thus, a 2 percent decline in advertising will lead to a 8 percent fall in quantity of good X.

d. Income increases by 4 percent.

$Income elasticity = \frac{Percent change in quantity }{Percent change in income}\\-2 = \frac{Percent change in quantity}{4} \\Percent change in quantity = (-2) * (4) \\ = -8\\$

Thus, when income increases by 4 percent, quantity decreases by 8 percent.

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2 years ago

Michael has written an e-mail to his employees that describes a new product special that will be introduced to the

svet-max [94.6K]

Answer:

effective communication

Explanation:

Since Michael is communicating a very important message, it is essential for it to be effectively communicated. This is a crucial step related to making sure your message is structured, organized and easy to comprehend. Especially, it is important in messages like this one - introduction of new concepts/products, instructions to employees...

Effective communication is needed to avoid any potential misconceptions and consequences related to a badly interpreted message.

3 0

3 years ago

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The Reid Co. acquired a piece of land for a new factory paying $100,000. Reid demolished the old building at a cost of $20,000,

Julli [10]

Answer:

A$118,000 B.$333,000

Explanation

Land$100,000

Demolition20,000

Scrap value(5,000)

Title insurance1,000

Paving assessment2,000

Total land cost($118,000)

B. The cost of the building recorde

d by Reid

Archirectfees$25,000

Construction interest8,000

Building cost300,000

Total building cost. $333,000

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You will still be able to get public broadcasting whether or not you contribute to their fundraising campaign. You decide not to

Alika [10]

Answer:

D. a free-rider problem

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3 years ago

Which of the following statements is true? Question 8 options: Always shake hands in an interview as it is the polite thing to d

SVETLANKA909090 [29]

I think the answer would be A. It definitely would not be B or C and D seems kind of rude so I think that A. would be the most courteous and kind. Hope this is helpful for you! :)

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