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
Trava [24]
3 years ago
15

The price of diamonds is high, in part because the majority of the world’s diamonds are controlled by a single firm. This is an

example of a.a market failure caused by an externality.b.a market failure caused by market power.c.a market failure caused by equality.d.There is no market failure in this case.
Business
1 answer:
kirill115 [55]3 years ago
5 0

Answer:

Option (b) is correct.

Explanation:

This is a case of monopoly market condition where there is a single firm operating the whole market. The price of the products is set by the single firm and the buyers in this market are price taker. The monopolist can earn normal profit, losses and abnormal profit in the short run and can earn normal profit and abnormal profit in the long run.

In our case, the price of diamonds is high because there is only single firm in the whole market and there is no other competitors in the market. That's why they are charging the higher prices.

You might be interested in
You are given the following total utilities of apples and mineral water obtained by
andrezito [222]

Answer:

2 apples and 6 bottles of water

Explanation:

since Bervin earns K22, her consumption possibilities frontier is:

apple                water                  total utils obtained

4 units               1 unit                   90 + 20 = 110 utils

3 units               3 units                75 + 54 = 129 utils

2 units               6 units                55 + 90 = 145 utils

1 unit                  8 units                30 + 98* = 128 utils

0 units               11 units                0 + 98* = 98 utils

The optimal combination of apples and bottles of water is 2 apples and 6 bottles of water because that combination yields the most utils.

*Since the table only states the utils obtained until the 7th unit, we must assume that any additional unit consumed will provide 0 utils.

7 0
3 years ago
Which of the following is correct: A. The post-closing trial balance will ensure the accounting equation is balanced at the end
kondor19780726 [428]

Answer:

D. Worksheet is a tool used in preparing adjusting entries and the financial statements, and the use of worksheet is optional

Explanation:

The correct option D because worksheet is used to adjust value and prepare the financial statements and it is not mandatory to use.

The post-closing trial balance might show that accounting equation is balanced but not every time. It only ensure the total of debits balances and total of credits balances are equal. All transaction might not correctly journalized.

The accounting cycle starts with analyzing the business transactions and ends with the preparation of a Financial Statements.

Property, Plant and Equipment are our physical, tangible and long term assets which include all land, office, building, Machinery, equipment and vehicles.

5 0
3 years ago
Polar bears in captivity exhibit obsessive patterns of behavior such as pacing back and forth on the same spot, swinging their h
kherson [118]

Answer:

c. Stressed polar bears exhibit obsessive patterns of behavior.

Explanation:

  • If a polar bear is bred in captivity they show an obsessive pattern of behavior.
  • Such as the passing of the back and forths on the same spot and swimming on their heads from side to side.
  • And also use their paws to repeatedly strike their heads as a sign of stress. This shows that they don't do well in captivity.
5 0
3 years ago
During the year, Bears Inc. recorded credit sales of $620,000. Before adjustments at year-end, Bears has accounts receivable of
AleksandrR [38]

Answer:

Bad Debt Expense Dr. $28050        

Allowance for Uncollectible accounts Cr. $28050

Explanation:

given data

credit sales = $620,000

accounts receivable = $320,000

past due = $55,000

credit balance = $2,600

rate = 7 %

rate = 22 %

solution

so here Not yet past due is = $320,000 - $55,000 -

Not yet past due = $265,000

and

past due = $55,000

so  Required provision is

Required provision = $265,000 × 7 % + $55,000 × 22 %

Required provision = $30650

and

Opening balance is $2,600

so

Required expense for year = $30650 - $2,600

Required expense for year  = $28050

so here

correct entry is

Bad Debt Expense Dr. $28050        

Allowance for Uncollectible accounts Cr. $28050

8 0
3 years ago
Create a conversational but professional tone in letters, e-mail messages, instant messages, and memos by Group of answer choice
egoroff_w [7]

Answer:

Using familiar words, occasional contractions, and pronouns such as you and I.

Explanation:

This is the best strategy in order to create a conversational but professional tone in letters, e-mail messages, instant messages and memos. This strategy suggests the use of familiar words. This will give a personal, relaxed tone to your texts. Moreover, it suggests the use of occasional contractions. Contractions are useful when it comes to making a text less formal and more intimate. Finally, using pronouns such as "you" and "I" gives a tone of closeness, while remaining professional.

4 0
3 years ago
Other questions:
  • New fashion stores inc received 1,000 t-shirts on the first of the month, by the end of the month the company has sold 743 shirt
    12·1 answer
  • The 1997 a value of an object was $5000. In 2012 , it was worth $9500. The annual percent growth has been constant. What is the
    10·2 answers
  • The Fed offers three types of discount window loans. ________ credit is offered to small institutions with demonstrable patterns
    5·1 answer
  • Governments may intervene in a market economy in order to
    11·2 answers
  • How did the US find out about the missiles being set up in Cuba?
    12·1 answer
  • Jason keeps a record of his transactions in a notebook. Looking over his records for the past two weeks, Jason finds that his ba
    6·1 answer
  • Which of the following is not always a result of unethical behavior? a. loss of profits b. loss of goodwill c. loss of trust d.
    14·1 answer
  • An inmate escapes from the county prison. there is a $500 reward offered for any information leading to the capture of the inmat
    6·1 answer
  • Which of the following statements is FALSE? The risk premium of a security is determined by its systematic risk and does not dep
    8·2 answers
  • O'Reilly Beverage Company reported net income of $650,000 for 2021. In addition, the company deferred a $60,000 pretax loss on d
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!