If the market had one supplier that was a monopoly then there would be only one firm operating in the market, with no competition.
In a market, a monopolist tends to charge a price higher and produces fewer units than a competitive market structure. Because of such higher monopoly price, the area of consumer surplus tends to decrease.
The market power of a monopoly affects both consumer and producer surplus as a firm is able to earn positive economic profits, and as it is a monopoly, other firms are unable to enter their market and cannot lead to competition.
Hence, a firm is a monopoly if it can ignore other firms prices.
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Answer:
false
Explanation:
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The fact that the business that Bhat and Cho do as Data Security, means that for the purpose of collecting judgements and having accounting performed, most states would treat the firm as an <u>independent entity.</u>
<h3>What is an independent entity?</h3><h3 />
An independent entity is one that does not get counted along with the assets of its owners or partners. In other words, it is independent of the affairs of its owners and is treated as having its own identity.
In this case, the Data Security partnership that Bhat and Cho have will be treated as a separate entity from them which makes it an independent entity.
This is purely for the purpose of collecting judgement and having proper accounting records kept. And even at that, not all states in the United States will require this.
In conclusion, this is an independent entity.
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Answer:
b. Exclusive right to sell
Explanation:
-Net listing is when the agent is able to keep the difference when a property is sold for more than the asking price.
-Exclusive right to sell is when the seller gives the agent the right to market the property and accepts to pay the comission to the agent if the property is sold during the period of the listing.
-Open listing is when a property has different agents and the one that gets the buyer receives the comission.
-Exclusive agency is when the seller gives an agent the right to market a property but the seller is able to sell the property to a buyer that was not found by the agent and in that case, the seller doesn't have to pay the comission to the agent.
According to this, the answer is that the type of agreement that assures that a broker will receive compensation regardless of who procures the buyer is exclusive right to sell because the agent is granted the right to sell the property and the seller agrees to pay the comission if the property is sold during the time of the listing last and it doesn't matter who finds the buyer.
Answer:
The balance of trade will not change but the balance of payment will improve.
Explanation:
A balance of trade is defined as the difference between country's export and import value during a given period of time.
A balance of payment can be defined as a statement which keeps record of all the monetary transaction, that are made between the country's resident and rest of the world during a specific period of time.
Purchase of U.S government securities by Japanese insurance company will surely improve the balance of payment from the U.S perspective but the balance of trade with Japan is not likely going to change.
