Answer: ($2,000)
Explanation:
With S3 as the supply curve, the equilibrium price is $10.
With this being a Perfectly competitive market, the profit maximising quantity will be where Price which is the same as Marginal Revenue equals Marginal cost.
That quantity is 200 gallons a week.
At this same level, the Average Total Costs are $20.
Profit (Loss) = (Price - ATC) * Quantity
= (10 - 20) * 200
= ($2,000)
If the opportunity cost for producing a particular good is lower for one producer than the other the former producer has comparative advantage for producing the good.
A collusive agreement between two firms is likely to break down when detection of cheaters is difficult
.
Option D
<u>Explanation:
</u>
Collusion is a secret agreement between two or more parties to suppress open competition by misleading, lying or defrauding others of their rightfulness or achieving a goal prohibited by law that usually is to defraud or gain an unacceptable market advantage.
It is an agreement between companies or individuals that divides a market establishes prices, limits or limits production opportunities. It can include "strike, pay manipulation, kickbacks or the freedom of the relationship between the two parties." All collusion-driven actions are considered null and void legally.
In the USA, Canada collusion is illegal because of antitrust legislation, but implicit collusion even now takes place in the method of price management and tacit agreement.
Example: Google and Apple announced that both firms decided not to hire people to work together to stop wage growth in 2015, a statement against bullying collusion by employees.
I will answer your question as much as i can since the multiple options are not clearly spelt out.
Answer:
Explanation:
HRIS, the acronym for Human Resource Information System, is a system that is used by human resources manager/department to gather, store, analyze information that concerns a firm's human resources which is important in the collection, storage, management, etc of data for human resource function.
Simply put, HRIS is a system that is used to collect, store and analyze human resources data for onward storage and management as it concerns a firm.
A firm's human resources includes databases, computer application, hardware and/or software, etc.
As a human resource manger, the job description of the position includes staffing(recruitment and employment), employee benefits and compensation management as well as defining job roles of job positions.
The above responsibilities of HRM usually is aimed at maximizing the productivity of a firm through its employees. This simply means HRM is there to motivate and get the best out of employees to ultimately improve the productivity of the firm.
Cheers.
