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Alexxandr [17]
3 years ago
8

In which of the following market structures is a firm the single buyer of labor in its related market? Monopoly Perfect competit

ion Monopsony Oligopoly Unregulated natural monopoly
Business
1 answer:
castortr0y [4]3 years ago
4 0

Answer:

MONOPSONY

Explanation:

Monopsony is a labour market form where a firm is a singe buyer of a kind of labour services. Eg : Primary or only supplier of a kind of job in an area. These are at a priviliged position - wage setting power, more bargaining power with labourers (for wages , employment terms & conditions).

Monopoly is a commodity market structure where firm is the only seller of that good/service, with no close substitutes. Eg - Indian Railways. Perfect Competition is a also a commodity market structure with many buyers & sellers selling homogeneous products at uniform prices.

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Given the following data for the economy, compute the value of GDP.
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Answer:

The value of GDP is 75

Explanation:

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Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of t
statuscvo [17]

Answer:

The standard cost is $5 per lbs

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Explanation:

Volume variance

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: efficiency \: variance

std quantity                   2800.00  (1,400 units times 2 pounds per unit)

actual quantity           3000.00

std cost                                     ??

(2,800-3,000) \times standard \: cost = -1,000

difference                     -200.00

efficiency variance        $(1,000.00)

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