Answer:
Cartel
Explanation:
A cartel is an association of large businesses that formally agree to work together to protect their interests. Cartels regulate supply to the markets and manipulate prices. Once formed, the cartel behaves as a single entity. Its objective is to maximize profits for each member.
The three organizations have come together and allocated themselves to regional markets. Each business will have full control of the market in its designated area. To maximize profits, cartel agree to
- set high prices
- restricts market supply
- breakdown market into territories or regions
Answer: False
Explanation:
Service variability means that the quality of services depends on who provides them. Also where it was provided, when it was provided, and how it was provided are taken into consideration.
Service variability are changes in the quality of identical service that are beung provided by different vendors. It should be noted that the difference in change is due to the nature of the service, delivery method used and the individual providing the service.
When using the specific identification inventory method, the cost of goods sold equals the "revenues from the goods sold."
This is because the specific identification inventory method calculates each unit of n item in an inventory from when it enters the inventory until it leaves it.
The specific identification inventory method is used by many industries such as automobiles, furniture, jewelry, etc.
This method is mostly used when each unit of items can be specified easily, either through serial number, stamped receipt date, or other means of identification.
Hence, in this case, it is concluded that the specific identification inventory method is a good method to use in certain industries.
Learn more here: brainly.com/question/15896939
Answer:
200 units
Explanation:
Perfect Competition are many firms selling similar products at same prices. So, constant prices imply that their marginal revenue = average revenue = price.
Monopoly is single seller of products. Their MR curve is below their AR curve. And, it is also twice steeper than AR (demand) curve, because it has double slope then that.
So, perfect competition is at equilibrium where MC = (MR = AR = P). However monopoly's optimum output is where MR = MC, & the optimal price is found by corresponding point at higher AR (demand) curve.
Given that MC curve is constant : Monopoly's output will be half perfect competition output, as per above explanation. So, if monopoly is producing 200 less than perfect competitive output. Being it half the perfect competition output, it could be producing output = 200 currently.