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vovikov84 [41]
3 years ago
6

The De Beers Company, one of the longest-lived monopolies, is facing increasing competition. One source of competition comes fro

m people who might resell their previously owned diamonds. Why is De Beers worried that people might resell their previously owned diamonds?
Business
1 answer:
inessss [21]3 years ago
4 0

De Beers is worried that people might resell their previously owned diamonds <u>because previously owned diamonds would be a close substitute to newly mined diamonds and therefore reduce De Beers' market power</u>.

<u>Explanation</u>:

A single company selling the unique product with no competition is known as monopoly. The company is sole seller of the product. The company is free of competition and decides the price of the product with full freedom.

De Beers Company is a monopoly company dealing with diamonds. They were monopoly for long time. In recent days they are facing increasing competition due to resale of diamonds by the previously owned customers. The company’s market power is reduced as the previously owned diamond is close to newly mined diamond.

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Alejandro works nights at a restaurant. His job is to prepare drinks for customers. He serves drinks directly to customers who s
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A restaurant is a place where <u>food and drinks</u> are prepared and served to clients. Meals are often served and consumed on-site, however many restaurants also provide take-out and food delivery services.

Alejandro is a<u> bartender</u> and Mei is a<u> Chef</u>.

<h2 /><h2>The reasons for the selection of their Job position:</h2>

<h3>Alejandro:
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  • Alejandro works in a restaurant at night.
  • His work is preparing drinks for customers.
  • He serves drinks to those <u>sitting nearby</u>, but he also prepares drinks for <u>waiters to distribute</u> to guests around the restaurant.
  • Alejandro is almost certainly a bartender.

<h3>Mei:
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  • Mei works long hours as a waitress in a restaurant.
  • She creates the restaurant's menu, manages kitchen employees, and prepares food.
  • Mei is probably a chef or a cook.

For more information about the related question, refer below:

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7 0
3 years ago
If there is an increase in market demand in a perfectly competitive market, then in the short run
katovenus [111]

Answer:

The correct answer is option d.

Explanation:

An increase in the market demand will cause the market demand curve to move to the right. This rightward shift in the demand curve will lead to an increase in the market price.

This increase in market price will cause the individual demand curves to move upwards. As the price increases, the profits earned by the firms will increase as well.

Profit to a firm is the difference between its total revenue and total cost, as the price increases, revenue will increase and cost will remain the same. This will cause profits to increase.

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3 years ago
You have $1200 to invest in a bank account with an interest rate of 5.5%, compounded monthly. After how many years will your acc
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2 years ago
Zeta Corporation is a manufacturer of sports caps, which require soft fabric. The standards for each cap allow 2.00 yards of sof
ad-work [718]

Answer:

Direct material price variance= $2,500 favorable

Explanation:

Giving the following information:

The standards for each cap allow 2.00 yards of soft for $2.00 per yard. During January, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps.

<u>To calculate the direct material price variance, we need to use the following formula:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 2.1)*25,000

Direct material price variance= $2,500 favorable

7 0
2 years ago
Grace is the editor of her school newspaper. Which feature of a word processing program would she use to make her changes visibl
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8 0
3 years ago
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