1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
What is the purpose of jim lentz’s series of presentations to toyota employees in california?.
Serggg [28]
<h3>Answer</h3>

To address employees concerns and provide details about relocation.

<h3></h3>

Explanation

CEO Jim Lent addressed the employees at Toyota to their concerns and to inform them about the relocation that is planned at a board level and then it is to be implemented.

CEO of Toyota is therefore addressing the employees to provide them details about relocation and to address their concerns.

<h3>Conclusion</h3>

Jim Lent CEO of Toyota, addressed the employees to provide them details about relocation and to address their concerns.

Learn more about Business at brainly.com/question/26562433

6 0
2 years ago
module 3 BlockWood Inc. has been providing raw materials to Couches Corp., a furniture company. The management at Couches recent
maria [59]

The correct answer to this open question is the following.

You forgot to include the options for this question. However, we can answer the following.

This scenario best illustrates forward integration.

This is a case of forward integration because BlockWood Inc., which was facing similar difficulties with other buyers too, eventually stopped supplying raw materials and took to manufacturing furniture instead. SO they decided to fabricate their own furniture.

Companies make this decision as a process of vertical integration to expand and grow their business. In this case to produce and control their own products, eliminating the retailer that had decided to pay less money for the raw materials.

So now, Blockwood Inc. has the challenge to design and sell the products it is fabricating.

6 0
3 years ago
Lili spent $120 on a new sweater rather than using this money to buy her personal finance textbooks. The cost of doing without t
Serjik [45]

Answer:

opportunity cost

Explanation:

The opportunity cost is the cost that is incurred for purchasing any other thing in place of one thing or we can say it is a sacrification done to purchase another thing

Here in the question it is mentioned that the Lil spent $120 for purchasing a new sweater instead of buying her finance textbooks also the cost of buying the sweater is known as the non doing textbooks cost

So here it is a opportunity cost

5 0
3 years ago
Christopher is an unpaid, stay-at-home father who works as a volunteer at the local Habitat for Humanity chapter. Currently, Chr
zheka24 [161]

Answer:

The correct answer is option a.

Explanation:

The bureau of labor statistics calculates the data regarding the unemployment rate in the US economy. It calculates the unemployment rate as the ratio of total unemployed to the total labor force.  

Those people who are having a job or business and are working for profit or those who are currently unemployed and looking for jobs are included in the labor force. Students, retirees, and discouraged workers are not included in the labor force.  

Here, Christopher is neither working for profit nor looking for work so he will not be considered unemployed or in labor force.

4 0
3 years ago
A CARTEL IS DEFINED AS A FORMAL ORGANIZATION OF PRODUCERS THAT AGREE TO COORDINATE PRICES &amp; PRODUCTION.
Elden [556K]

Answer:

cartel - an agreement by a formal organization of producers to coordinate prices and production

Explanation:

Who are the OPEC plus countries?

Currently, the Organization comprises 15 Member Countries – namely Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, IR Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.

Member: Iran, Iraq, Ecuador

Place founded: Baghdad

3 0
3 years ago
Other questions:
  • Northern Company has bonds with an amortized cost of $600,000. At the end of the first reporting period, the bonds had a fair va
    12·1 answer
  • Required Information
    14·1 answer
  • The consideration of future consequences scale is intended to measure the extent to which an individual considers the future whe
    9·1 answer
  • 1. The IS curve plots the relationship between the interest rate and ______ that arises in the market for ______.
    5·1 answer
  • When the Central government cut taxes and increases spending to stimulate the economy during a period of recession, such actions
    8·1 answer
  • How to do a balance sheet?
    9·1 answer
  • The classified balance sheet will show which asset subsections?
    14·1 answer
  • Jetson Spacecraft Corp. shows the following information on its 2009 income statement: sales = $201,000; costs = $97,000; other e
    13·1 answer
  • Taxable income and pretax financial income would be identical for Skysong Co. except for its treatments of gross profit on insta
    6·1 answer
  • A firm's business _______ should include a description of the need the firm will fill, the operations of the business, its compo
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!