If a firm in a purely competitive market can differentiate its product or service, it becomes part of a monopolistic competition market.
Monopolistic competition is a type of imperfect competition in which many manufacturers compete with each other, but sell different products, so they are not perfect substitutes.
These sellers can calculate their prices based on the uniqueness of the products they are offering, so you cannot compete on price. Also, this company that
has full control or is trying to have full control of something, especially has areas of business that no one else is involved with. She didn't think the fines would be a sufficient deterrent to monopoly practices by large manufacturers. The company has been accused of monopolistic conduct.
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Answer:
a. $125 per month
b. $10,300 per month
Explanation:
Data provided in the question
Paid amount as a corporate accountant = $10,000
Renting cost = $300
Purchase of office supplies = $75
Monthly electric bill = $50
The computation is shown below:
a. Explicit cost
Explicit cost = Purchase of office supplies + increase in monthly electric bill
= $75 + $50
= $125 per month
b. Implicit cost
= Paid amount as a corporate accountant + renting cost
= $10,000 + $300
= $10,300 per month
Answer:
A) integrated paid time off
Explanation:
Integrated paid time off (PTO) is a policy employed by many organizations where all paid time off benefits are combined into one, equaling a total of the paid days off for holidays, vacation, sick leave, and personal days the employee would have received in a separate paid time off system.
She should tell the boss that she doesn't want the job and just move on.
Answer:
A) $930
B) $930
C) See explanation
Explanation:
A) Since Jeremy spends by purchasing products from Michele, Michele earns an income. As there are no further activity, the economy's income is $930.
B) Since Jeremy spends by purchasing products from Michele, Jeremy pays money. As there are no further activity, the economy's expense is $930.
C) There is a relationship between income and expenses in an economy. That relationship is called the consumption factor. If people earn money, they tend to spend that money. In an economy, someone's income may include another person's expenditure. An example can show the relationship in a better way -
If Mary earns money by providing services, it will be her income and also the economy's income. As another person pays fees for the services, it will be the customer's expense and also the economy's expenditure.
