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3 years ago

Identify one advantage and two disadvantages of a monopoly.

1 answer:

5 0

A monopoly is like a patent; It's good if you own one because you can control something and be the only person who makes money off of it.
It's bad because it defeats competition between other competing companies, and prices will go up
It's even worse when you consider what would happen if a dozen people or two monopolize the whole world. Then no one else would make money
Hope this helps!

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Robert treats coffee and creamer as perfect complements and has very specific requirements for the ratio of creamer to coffee. H

diamong [38]

Answer:

a. Robert's optimal consumption bundle contains 9.18 cups of coffee and 45.88 packets of creamer.

b. Zero packets of creamer is the substitution effect.

Explanation:

a. Suppose that Robert has $39.00 to spend on coffee and creamer. His optimal consumption bundle contains _______cups of coffee and _________

The consumption ratio can be stated as follows:

5 Creamer = 1 cup of coffee

Budget line has an equation can also be given as follows:

B = (Pm * Qm) + (Pf * Qf) ...................... (1)

Where;

B = Budget = The amount Robert has to spend on coffee and creamer = $39.00

Pm = Price of creamer = $0.25

Qm = Quantity of creamer = ?

Pf = Price of coffee = $3.00

Qf = Quantity of coffee = ?

39 = (0.25 * Qm) + (3 * Qf)

39 = 0.25Qm + 3Qf

Since "5 Creamer = 1 cup of coffee". This also implies thal 1 creamer = 1 / 5 cup of coffee. Therefore, we have;

39 = 0.25Qm + (3 * 1/5 * Qm)

39 = 0.25Qm + (3/5)Qm

39 = 0.25Qm + 0.60Qm

39 = 0.85Qm

Qm = 39 / 0.85

Qm = 45.88

Qf = 45 / 5 = 9.18

Therefore, Robert's optimal consumption bundle contains 9.18 cups of coffee and 45.88 packets of creamer.

b. Now, suppose that the price of creamer rises to $0.50 per packet. What is the substitution effect of this price change?

Since Robert treats coffee and creamer as perfect complements, this implies that there there is nothing like substitution effect under this condition.

Therefore, zero packets of creamer is the substitution effect.

6 0

3 years ago

At January 1, 2017, Benny Enterprises reported a balance in the Equipment account of $45,000. During the year the company purcha

zhannawk [14.2K]

Answer:

$4,000

Explanation:

The operating activities records daily activities of a business entity transactions such as depreciation expense, loss or profit on sale of long term assets, change in working capital etc.

With regards to the above scenario, there is a loss of $4,000 on the sale of equipment whilst same was recorded under the operating activity section as positive.

It is to be noted that the sale and equipment of an equipment falls under investing activity section hence shod be recorded therein as such, reason it was not considered here.

6 0

3 years ago

Classify each of the statements as true or false.

Tasya [4]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

7 0

3 years ago

Rough Hewn Lumber Company orally contracts with Joe for the purchase of five acres of Joe's timberland. Joe makes the transfer b

Reptile [31]

Answer:

b. quasi contract

Explanation:

-Liquidated damages refers to a mechanism in a contract in which a party can request a compensation because of breach.

-Quasi contract is an agreement that is recognised by a court when there is no written contract between two parties and there is a conflict about a payment of a product or service.

-Reformation is a change made by a court in a document when one party that participates in it makes a request.

-Restitution is when someone receives a compensation for a loss or an injury.

According to the options given and the definitions, the answer is quasi contract.

7 0

2 years ago

_________ management emphasized internal operations because managers were concerned primarily with meeting the explosive growth

xenn [34]

Answer:

Systematic management

Explanation:

Systematic management is an approach of management which focus on the process of the management instead of the final outcome. The objectives of this approach to the management are:

To establish the particular procedures and processes to be used in the completion of the job task.

So, the systematic management is the one which focus on the internal operations as managers are concerned with the growth brought about through the Industrial Revolution.

5 0

3 years ago