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serious [3.7K]
3 years ago
12

A monopoly, unlike a perfectly competitive firm, has some market power. Thus, it can raise its price, within limits, without qua

ntity demanded falling to zero. The main way monopolies retain their market power is through barriers to entry, which prevent other companies from entering monopolized markets and competing for customers. Consider the market for tanzanite. The mines for this blue-purple gemstone, found only in Tanzania, are owned by the local government. Given that no one is allowed into the mines without government permission, the market structure for tanzanite highly resembles that of a monopoly. Which of the following best explains the barriers to entry that exist in this scenario?
A. Exclusive ownership of a necessary resource
B. Legal barriers
C. Increasing returns to scale
Business
1 answer:
Gnom [1K]3 years ago
3 0

Answer:

Option A and B        

Explanation:

No other nation can get into the market of this business as the resource is found only in Tanzania. This depicts that Tanzanian government have the ultimate power in this market as they are the sole owners of the resource, thus its has exclusive rights barriers externally.

However, internally Tanzania has legal barriers as no private firm or oterh such entity can get into the extraction of the gems without the permission from the government.

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Christie has just started with a travel agency. and she has been offering clientsand prospective clients a range of packaged tou
Marta_Voda [28]

<u>Full question:</u>

Christie has just started with a travel agency. and she has been offering clients and prospective clients a range of packaged tours. She is concerned. because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter. who has been with the agency for several years, is having a great deal of success by working closely with the clients. seeking their ideas. and building customized tour packages for each one based on their suggestions.Peter's approach is based on A. transaction-oriented marketing.B. premium C. Vlaue Cocreation D.sales-oriented marketing.

Peter's approach is based on value cocreation.

<h3><u>Explanation:</u></h3>

Value co creation is one of the strategies used in the business. It is a business strategy that helps in creation and promotion of the involvement of the customers actively in creation of on demand and made to order products. By using this strategy they will get the exact product they are in need and they can also involve in understanding how those products are formed.

In the example given, The colleague of Christie, Peter is being working closely with the clients and he offers the services by asking the customer's ideas and their suggestions. Thus the approach followed by Peter is value cocreation.

6 0
3 years ago
2. Damaged batteries need to be placed in an acld-resistant container or tub Immediately.
katrin2010 [14]
The answer is B. Batteries contain sulphuric acid, of the battery is damaged the acid can be corrosive but it’s not toxic too rich, simply dispose of it.
6 0
3 years ago
Read 2 more answers
Market competition may sometimes encourage a firm to innovate out of fear because of the perception that Group of answer choices
topjm [15]

Answer:

they will inevitably fall behind other competitors seeking out innovations.

Explanation:

Innovation typically involves the creation of a new product of any category such as automobile, building, phones, electronics, etc., that generates money for the innovators or manufacturers through purchase made by the end users (consumers).

Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.

This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.

Hence, market competition may sometimes encourage a firm to innovate out of fear because of the perception that they will inevitably fall behind other competitors in the same industry who are seeking out innovations.

7 0
3 years ago
A land title search office has a staff of three, each working eight hours per day (for a total payroll cost of $480/day) and ove
miv72 [106K]
<span>Well, your costs per title have decreased from: $780/7 = $111.43 to: $1080/12 = $90 That represents a decrease in costs of almost 20%. Then. taking the change in titles processed per dollar of cost (the reciprocals of previous calculations), means that total productivity has increased by around 23.8%. Are you calculating labor productivity as including overhead? Because then the answer is 23.8%.</span>
4 0
3 years ago
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Suppose that 10 years ago you bought a home for $110,000, paying 10% as a down payment, and financing the rest at 8% interest fo
skad [1K]

Answer: $11,000

Explanation:

The solution to this problem is not tedious or complicated

Solution;

Amount is = $110,000

Percentage of down payment is given as = 10%

To get the amount of the down payments we find the 10% of $110,00

10% of $110,000 is = 10÷100

=0.1

We multiply it by the amount which is 0.1×110,000= $ 11,000

3 0
3 years ago
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