Markets are segmented as <span>behavioral, demographic, geographic, and psychographic. The crescent should be targeting the geographic segment
Hope this helps :))</span>
Answer:
c. rent-seeking behavior
Explanation:
In economics, rent-seeking behavior can be described as a behavior or conduct that tries to increase the share of an economic agent or an entity from the existing wealth without adding or creating new wealth. This implies that the entity aims to obtain added wealth without creating a new one.
From the question, the aim of the lawyers is mainly to increase their own wealth in terms of legal fees they will collect from preparing wills, trusts, and other legal documents when they prepare them for people when a law restrict people from self-preparing it using their personal computers. In turn, the lawyers will only increase their share of wealth without adding any wealth.
Therefore, this is an example of rent-seeking behavior.
Answer:
Please refer explanation
Explanation:
A. Many small shops sell different styles of sweaters. Some stores sell higher-quality and more expensive sweaters then other stores.
1. many
2. differentiated
3. easy
4. price-searcher
Monopolistic competition is whereby there are many firms selling similar products and services but are not perfect substitutes. They may be different in quality, design or style. Barriers to entry are low and any one firm’s decision does not necessary affect all others. These firms tend to have limited price setting powers and they make use of heavy adverting and brand differentiation.
B. Hundreds of high school students who require tutoring in algebra choose among dozens of tutoring companies offering similar services.
1. many
2. standard
3. easy
4. price-taker
Perfect competition is a market structure where there are many firms selling homogenous or commodity products, such as a fruit or vegetable vendor. They do not have the ability to influence the price and they take the price that they receive. There is free flow of information between sellers and buyers regarding the goods sold as well as the prices of goods and services sold. Firms can easily enter and exit the market.
C. Four Internet providers offer similar services to almost everyone in the city. Any new company would have to engage in a price war with the existing companies.
1. few
2. standard
3. challenging
4. oligopoly
Oligopoly is an imperfect market structure with a small number of firms who are impacted by each other’s actions. Oligopolies may collide either explicitly or tacitly in order to restrict output or fix prices and achieve above normal market returns. Government policies and regulations are placed to encourage or discourage oligopolistic behavior and ensure that consumers are not exploited.
D. Only one pharmaceutical company has a government patent to sell an experimental drug.
1. one
2. unique
3. impossible
4. monopoly
A monopoly refers to a single company dominating the market in an industry. It has a proportionately large market share. This can be due to an absence of proper restraints. They have control of the price in the market for that product. There are very large batters to entry and exit, they exploit economies of scale and are able to make abnormal profits in the industry.
Answer: -$2,350
Explanation:
First we will calculate the labour costs of the product as,
Standard labour overheads required,
= 2,500*6
= $15,000
Using the above figure we will then calculate the Standard Overhead Cost as,
Standard overhead cost
= 4.9* 15,000 hours
= $73,500
But the Actual overhead cost = $71,150
The Variance is calculated as,
= standard overhead cost - actual overhead cost
= 73,500 - 71,150
= $2,350 Favorable.
= -$2,350
If you need any clarification do react or comment.
Answer:
(A) $ 2,602.34
(B) $ 4,156.97
(C) $ 8,233.47
(D) $ 46,796.64
Explanation:
We need to solve for the PMT of an ordinary annuity:
(A)
FV 24,850
time 8
rate 0.05
C $ 2,602.337
(B)
FV 1,030,000
time: 43
rate 0.07
C $ 4,156.972
(C)
FV 856,000
time 29
rate 0.08
C $ 8,233.466
(D)
FV 856,000
time 14
rate 0.04
C $ 46,796.641
