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3 years ago

A problem in using the judgment by market structure criterion is that:

Business

1 answer:

Reptile [31]3 years ago

3 0

Answer:

The problem faced while using the judgement by the market structure criteria is that it is difficult for determining the geographic market and the relevant industry.

Explanation:

Market structures criteria are the kind or type of goods and services being traded, the size as well as the numbers of the consumers and the producers in the market and the degree to which the information could flow freely.

So, the problem which can be faced while using the judgement by the market structure criteria is that it is difficult for determining the geographic market and the relevant industry.

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raffle is being held at a benefit concert. The prizes are awarded as follows: 1 grand prize of $6,600.00, 3 prizes of $800.00, 3

ser-zykov [4K]

Answer:

-0.352

Explanation:

Total number of raffle tickets sold = 14,500

1 grand prize of $6,600, 3 prizes of $800, 3 prizes of $65 and 10 prizes of $20.

Therefore,

Probability of winning 1 grand prize of $6,600 = $\frac{1}{14,500}$

Probability of winning 3 prizes of $800 = $\frac{3}{14,500}$

Probability of winning 3 prizes of $65 = $\frac{3}{14,500}$

Probability of winning 10 prizes of $20 = $\frac{10}{14,500}$

Expected value:

$=[(\frac{1}{14,500}\times 6,600) + (\frac{3}{14,500}\times 800) + (\frac{3}{14,500}\times 65) + (\frac{10}{14,500}\times 20)] - 1$

$=(0.455+0.166+0.013+0.014)-1$

= 0.648 - 1

= -0.352

4 0

3 years ago

List at least three tools or services that are available when you open a savings account.

irina [24]

Atms, direct deposit and online saving plans.

7 0

3 years ago

Suppose a new off-campus university apartment complex could rent its rooms on the open market for $900 a month. If, instead,

asambeis [7]

Answer:

a shortage would arise since quantity demanded would exceed the quantity supplied

Explanation:

The law of demand states an inverse relationship between price of a good and it's demand.

In the given case, per month rental for rooms has significantly reduced for students. This would result into an immediate increase in demand for the rooms. Now since, the rooms available are limited in number, a shortage would arise.

Owing to such a shortage, a possibility would arise wherein students who do not require such rooms may avail such rooms at $500 and subsequently let out the rooms to outsiders at anything below $900 thereby earning a profit.

3 0

3 years ago

Most markets are not monopolies in the real world because

tresset_1 [31]

Answer:

D. there are reasonable substitutes for most goods.

Explanation:

A monopoly is when there is only one firm operating in the industry. There are also no subsituites for goods and services produced by the monopoly. The monopoly sets the price for his product and earns economic profit in the long and short run.

There aren't a lot of monopolies in the real world because most goods have substitutes. Therefore, consumers can substitute the monopoly product for another product and there isn't just one firm operating in the industry.

4 0

3 years ago

The Old World Café’s cash register receipts showed total sales of $884. The cash equaled $534, and the credit card slips equaled

Crazy boy [7]

Answer:the answer is $307

Explanation: some one didn't pay

8 0

3 years ago