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3 years ago

In markets characterized by oligopoly,

Business

1 answer:

Tju [1.3M]3 years ago

4 0

Answer:

d. the oligopolists earn the highest profit when they cooperate and behave like a monopolist.

Explanation:

An oligopoly is when there are few large firms operating in an industry.

When oligopoly firms come together and agree to set a price, they are known as cartels and are acting as a monopoly. Firms in a cartel earn the highest profit because they act as a monopoly compared to when they aren't in a cartel and each firm sets their own prices to maximise profit. In a case where firms in an oligopoly do not form a cartel, they engage in price wars and other forms of competition which might make firms earn lower profits compared to when they are in a cartel.

Collusive agreements aren't always binding. Firms might have incentives to cheat on the agreement if the payoff from cheating is higher than not cheating.

I hope my answer helps you.

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How does the service enterprise contribute to the economic growth of the country?

Juli2301 [7.4K]

Answer:

Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.

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8 0

3 years ago

Assume the process of obtaining a driver's license is considered too long because of too few people who can administer the fina

vfiekz [6]

Answer:

Process resources.

Explanation:

Assume the process of obtaining a driver's license is considered too long because of too few people who can administer the final driving test. One way to resolve this problem is to hire more people who can give the driving test. This is an example of a change in process resources.

Process resouces: It is a management strategy to resolve operational issue and get smooth work flow in the process by hiring more resources to reduce waiting time and deliver the services as per expectation and on the time. It show the operational efficiency of process.

In the given case, hiring more people to adminster driving test will help in reducing the waiting time of customer and deliver services as per expectation.

8 0

3 years ago

Riverboat Adventures pays $170,000 plus $14,000 in closing costs to buy out a competitor. The real estate consists of land appra

damaskus [11]

Answer:

Total cost allocated to building = $66,240

Explanation:

Given:

Total amount pay = $170,000 + $14,000 = $184,000

Land appraised amount = $22,000

Building appraised amount = $79,200

Paddleboats appraised price = $118,800

Find:

Total cost allocated to building

Computation:

Total appraisal price = Land appraised amount + Building appraised amount + Paddleboats appraised price

Total appraisal price = $22,000 + $79,200 + 118,800

Total appraisal price = $220,000

Total cost allocated to building = [Total amount pay / Total appraisal price]Building appraised amount

Total cost allocated to building = [184,000/220,000]79,200

Total cost allocated to building = $66,240

8 0

3 years ago

Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $41,

quester [9]

Answer:

The impact of eliminating the backpack division

Particulars Amount

Decrease in contribution margin $480,500 ($950500-$470,000)

Decrease in Expenses:

Fixed expenses $208,800 ($70522,000*40%)

Decrease in Net operating income $271,700 (Financial disadvantage)

3 0

3 years ago

The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000;

andriy [413]

Answer:

Wilkens' days in inventory for 2017 = 60.833

Explanation:

Given:

Sales = $1,800,000

Beginning inventory = $160,000

Ending inventory = $240,000

Gross profit = $600,000

Inventory turnover = 6 times

Wilkens' days in inventory for 2017 = ?

Computation of Wilkens' days in inventory for 2017:

Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover

Wilkens' days in inventory for 2017 = 365 / 6 times

Wilkens' days in inventory for 2017 = 60.833

7 0

4 years ago