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levacccp [35]
2 years ago
14

In many casinos, a person buys chips to use for gambling. Within the walls of the casino, these chips can often be used to buy f

ood and drink or even a hotel room. Do chips in a gambling casino serve all three functions of money?
Business
1 answer:
Ber [7]2 years ago
6 0

Answer:

As long as you remain within the casino's walls, chips fit the definition of currency; that is, they serve as a means of exchange, an account unit, and a value store. Once you leave the casino, chips don't work very well as money but many kinds of money don't work well in other places.

It's hard, for example, to spend money from Turkey or Brazil on your local supermarket or the movie theatre.

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A. guaranty arrangement
The third party is providing a guarantee that the lender will recover the debt regardless of the borrower's reputation to pay.
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What?

Explanation:

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The perfectly price-discriminating monopolist is like the __________ in this regard.
Nadusha1986 [10]

Answer:

The correct answer is perfectly competitive firm.

Explanation:

The discriminating monopoly of prices is that where each unit of the product is placed at a different rate. That is, the seller charges each customer differently, depending on various factors such as the budget constraint.

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3 years ago
Closure is the property of an operation and a set that the performance of the operation on members of the set always yields a me
SashulF [63]

Answer:

Set.

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Closure property in algebra asserts that 'when an operation(multiplication, addition) takes place among the members of a set, the result produced would surely be a member of that same set.' For example, if we add or multiply two real numbers(members of the same set), the result would be a real number for sure(a member of the same set). It implies that 'real numbers are closed under multiplication and addition.' While if I subtract two real numbers, I may or may not get a real number. Thus, the real numbers are closed under subtraction.

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Kobotan [32]

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<u>Price</u> refers to the amount of money that is paid by one party to another to acquire a particular commodity or in return for unit of commodities. Some of the factors that determines the price of a commodity include cost of production, product demand, product supply, targeted profit, and among others.

A <u>profit</u> is the amount earned from selling a commodity minus the amount expended to purchase, operate, or produce the commodity.

The primary aim of an entrepreneur is to make a profit, and price setting is one of the important activities that influences a profit. Since the higher the price, the higher may be the profit. However, a higher price may also dicourage customers from buying a product and then reduces profit.

Therefore, setting prices for products and services requires entrepreneurs to balance a multitude of complex forces as entrepreneurs determine prices for their goods and services that will draw customers and <u>produce a profit</u>.

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3 years ago
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