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Gnoma [55]
3 years ago
5

The great baseball player Ty Cobb was known for being very thrifty. Near the end of his life he was interviewed by a reporter wh

o was surprised to find that Cobb used​ candles, rather than​ electricity, to light his home. From Ty​ Cobb's point of​ view, was the local electric company a​ monopoly? For​ Cobb, the local electric company
A. was a monopoly because it produced only one good.
B. was not a monopoly because it earned no economic profit.
C. was a monopoly because it was the only source of electricity.
D. was not a monopoly because candles were a good substitute for electricity.
E. was a monopoly because it charged high prices for electricity.
Business
1 answer:
Anarel [89]3 years ago
3 0

Answer:

D

Explanation:

From Ty Cobbs point of view it was not a monopoly because candles were a good substitue for electricity. Both produce light so Cobbs as being a very thrifty person would want a substitute that will allow him to curtail his expenditures using candles will definitely be less expensive .

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Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or b
loris [4]

Answer:

The correct answer is a) Payor Benefit

Explanation:

When the payor dies or becomes disabled, the insurer will suspend the premiums until the child reaches 19 years old, the child must be under age 18, or up to age 19 and still attending high school. Usually, the payor is a parent (father, mother, brothers).

4 0
3 years ago
What do the income effect, the substitution effect, and diminishing marginal utility have in common?
Sveta_85 [38]

Answer:

They all help explain the downsloping demand curve

Explanation:

The options to the question wasn't provided. The complete question can be in the attached image.

The demand curve slopes downward from left to right. This indicates that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Income effect is a change in quantity demanded when real income change. Quantity demanded increases when real income increases and decreases when real income falls.

Substitution effect says that consumers would substituite to the consumption of a cheaper good when the price of a good originally consumed increases.

Diminishing marginal utility states that as consumption increases, utility derived from consumption falls and quantity demanded falls.

I hope my answer helps you

3 0
3 years ago
Wage and price stickiness Select one: a. gives rise to a vertical long-run aggregate supply curve. b. gives rise to a vertical s
Tresset [83]

Answer:

d. prevents the economy from producing its potential level of real GDP.

Explanation:

Price-stickiness or Wage-stickiness, is a term that describes a condition in which a nominal price or wage is resistant to change. Often referred to as Nominal Rigidity, this occurs when a price or wage is fixed in nominal terms for a given period of time.

In other words, Price stickiness or Wage Stickiness occurs when workers' earnings or price don't adjust quickly to changes in labor market conditions, thereby creating sustained periods of shortage or surplus.

Hence, Price and Wage stickiness prevent the economy from achieving its natural level of employment and its potential output, which in turn prevents the economy from producing its potential level of real GDP.

5 0
4 years ago
To protect consumers, the SEC requires brokers and dealers to information about securities. True or False
Mashutka [201]
Answer;
The above statement is true; 

<span>To protect consumers, the SEC requires brokers and dealers to reveal  information about securities.

Explanation;
The objective of the SEC (securities and Exchange Commission) is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. they also protect consumers by requiring brokers and dealers to reveal information about securities. </span>
4 0
3 years ago
Read 2 more answers
How might firms BEST use marginal analysis to determine price and output when there are additional costs related to hiring a new
wel

Answer:

bruh ok look its A

Explanation:

because this fool just got me wrong

7 0
4 years ago
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