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3 years ago

Explain why monopoly is uncommon in the real world

Business

1 answer:

lara [203]3 years ago

7 0

Explanation:

There are certain necessary conditions required for a market to operate as a monopoly. These conditions are not generally met in the real world. This is the reason why monopolies are very rare not so common in the real world.

A monopoly is a market structure where there is a single producer selling a product with no close substitutes. In the real world, almost all products have substitutes.

Also for a monopoly to operate there should be a restriction on entry and exit of firms which is difficult to hold in the real world.

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A producer has indicated to a potential client that the proposed life insurance policy is covered by the Massachusetts Life and

Ksivusya [100]

There are lot of people involved in production. The action taken by the producer is prohibited by law.

<h3>Which actions is considered to be an unfair trade practice?</h3>

Unfair business practices are said to be any kind of misrepresentation, untrue advertising or depiction of a good or service, noncompliance with the terms of manufacturing standards, etc.

The action of the producer is prohibited because it is not the right thing to do and also not backed up by law.

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2 years ago

Redistributing income, providing a structure and promoting stability are

nikitadnepr [17]

The government often plays some key roles in the economy. Redistributing income, providing a structure and promoting stability are the role of government.

Role of government

The government plays some key roles which are;

They Provide legal structure.
They are known to Redistribute income.
Reallocating resources.
They Promote stability.

The redistribution of income is known to be the distribution carried out again or anew.

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1 year ago

Read 2 more answers

One of Justin's largest international customers is Alpine Airwaves in Switzerland. He got a call from his contact at Alpine Airw

Evgen [1.6K]

Answer:

Justin's company should prepare to demonstrate that it is ISO 14001 compliant.

This means that it is following the environmental management standards for environmental footprint and waste reduction, while promoting environmental sustainability in its operations.

Explanation:

ISO 14001 is one of the environmental management standards, prescribed by the International Organization for Standardization (ISO), "to help reduce environmental impacts, reduce waste, and make the environment more sustainable," according to the ISO website. ISO 14001 specifies requirements for an effective environmental management system (EMS) by providing a follow-able framework.

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3 years ago

When a bond contract rate is less than the current market rate on the date of issuance, the bond will be sold at a(n)?

nekit [7.7K]

When a bond contract rate is less than the current market rate on the date of issuance, the bond will be sold at Discount

Discount = Contract rate is less than the market rate.

What is meaning of discount and its types?

When a reduction in the amount is allowed in order to encourage more purchase or to have an on time payment is referred to as discount. Discount are classified as: Trade discount: The discount which is allowed when purchases are made in large quantity is known as trade discount.

Contract rate:

The contract rate; also called the coupon rate, stated rate, or nominal rate; is the interest percentage listed on the face of a note or bond. In other words, this is the interest rate that will be paid on the principle balance for the life of the note or bond.

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1 year ago

Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are i

wariber [46]

Answer and Explanation:

The computation is shown below:

1. Calculation of the equivalent units

<u>Particulars Physical units % Material % Conversion cost</u>

Units transferred

out 900 100% 900 100% 900

Ending

work in process 600 100% 600 40% 240

Equivalent

units 1,500 1,140

2. Cost per equivalent unit is

Particulars Material Conversion cost

Beginning

inventory $750 $600

Cost during

period $2,400 $2,820

Total cost $3,150 $3,420

Divided by

Equivalent

units $1,500 $1,140

Cost per

equivalent unit $2.1 $3

3. Transferred out cost is

= (3 + 2.1) × 900

= $4,590

And, the ending work in process cost is

= (600 ×$2.1) + (240 × $3)

= $1,960

2. Now the preparation of the production report is presented below:

Beginning work in process $1,350

Cost during period $5,220

Total cost accounted for $6,570

Transferred out cost $4,590

Ending work in process $1,960

Total cost accounted as $6,570

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3 years ago