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3 years ago

Explain whether you agree or disagree with the following statement.

Business

1 answer:

butalik [34]3 years ago

7 0

Answer: AGREE

Explanation:

A Monopoly faces no competition and are the only sellers of the product they sell. If firms in an industry successfully engage in collusion, the resultant effect will definitely be not unlike a Monopoly because they will set prices as a single firm, control output as a single firm and essentially run the market as a single firm.

They will sell at a rate where the Marginal Revenue curve will be below the demand curve. This will mean a higher price than a competitive market which was probably the main incentive for collusion.

A recent example would be the collusion between BMW, Daimler and Volkswagen, to hinder technological progress in improving the quality of vehicle emissions in order to reduce the cost of production and maximize profits. Thankfully this was busted by the European Commission in 2019.

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A company incurs advertising costs of $10,000. The company's three selling departments have the following sales: Department 1—$1

erik [133]

Answer:

The amount of advertising allocated to:

Department 1: $1,250

Department 2: $3,750

Department 3: $5,000

Explanation:

Total sales of the company = Sales of Department 1 + Sales of Department 2 + Sales of Department 3 = $10,000 + $30,000 + $40,000 = $80,000

Percent of sales of three selling departments:

Department 1 = ($10,000/$80,000)x100% = 12.5%

Department 2 = ($30,000/$80,000)x100% = 37.5%

Department 3 = ($40,000/$80,000)x100% = 50%

Advertising is allocated based on percent of sales. The amount of advertising allocated to:

Department 1 = 12.5% x $10,000 = $1,250

Department 2 = 37.5% x $10,000 = $3,750

Department 3 = 50% x $10,000 = $5,000

5 0

3 years ago

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Neko [114]

Answer:

Explanation:

You need 2 people to have a conversation, not just words. You can’t just be in and empty room and just talk. You need someone else to talk to you.

8 0

2 years ago

What do you need to file your taxes?

Burka [1]

Answer:

w-2, Form 1040, and possibly Schedule (1... etc. )

Explanation:

3 0

2 years ago

Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevan

kipiarov [429]

Answer:

The Journal entry is as follows:

Construction in progress A/c Dr. $950,000

Cost of construction A/c Dr. $1,600,000

To revenue from long term contracts $2,550,000

(To record the revenue in 2018)

Workings:

Cost of construction:

= cost of 2017 + cost of 2018

= $1,100,000 + $500,000

= $1,600,000

4 0

3 years ago

sasse inc manufactures 2 products hammers and screwdrivers the company has estimated its overhead in the assembling department t

igomit [66]

Answer:

The answer is: $500,000

Explanation:

In order to allocate overhead cost we will use the overhead cost per part ratio:

Total overhead cost = $2,000,000

Hammers produced = 300,000 x 2 parts per hammer = 600,000 parts

Screwdrivers produced = 600,000 x 3 parts per hammer = 1,800,000 parts

Total parts involved in the production process = 2,400,000 parts

Overhead cost per part = $2,000,000 / 2,400,000 parts = $0.83 per part

Total overhead cost allocated to the production of hammers = 600,000 parts used in hammer production x $0.83 per part = $500,000

8 0

2 years ago