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Cloud [144]
2 years ago
8

Karan works at a shoe store where the latest trends in shoes are displayed. Down the road from his store, two more stores opened

up and began selling similar styles of shoes. His store no longer has a monopoly in shoes on that road. What would happen to the price of shoes in Karan’s area? A price would happen in Karan’s area, because customers now have more options for shoes.
Business
2 answers:
rosijanka [135]2 years ago
0 0
A price WAR would happen...

UkoKoshka [18]2 years ago
0 0

Answer:

A price war would happen in Karan’s area, because customers now have more options for shoes.

Explanation:

Before two more shoe opened up, the shoe store where Karan works was a monopoly. In economics, monopoly market is a market where there is just only one seller who can charge an abnormally high price for its product as there are no other seller in the market.

The opening up of two more stores that began selling similar styles of shoes as Karan's Shore Store will bring about a Perfect Oligopoly.

A perfect oligopoly exists when there are two or more but less than 20 firms/sellers who sell identical products in a industry/market. As a result, each firm/sell must consider the price charged by the other firms/seller before setting its own price. This will lead to a price war and will make the price of the product, in this case shoe, to fall.

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Answer:

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Joe is a life insurance policyowner who has failed to pay interest on his policy loan. what will result from this nonpayment?
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gregori [183]

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1 year ago
By buying a ________ bond, investors may choose to exchange their bond for shares of common stock in the company.
vesna_86 [32]

The type of bond which investors would buy that they may choose to exchange their bond for shares of common stock in the company is known as convertible bonds.

<h3>What is a Bond?</h3>

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4 0
1 year ago
The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Accounts receivab
loris [4]

Answer:

Explanation:

Given:

Net sales: $20.0 billion.

Accounts receivable:

  • The beginning of the year: $2.7 billion
  • The end of the year $2.8 billion  

a. Compute 3M's account receivable turnover.

We need to find the average account receivable:

= (the beginning account receivable + the ending account receivable) / 2

= ($2.7 billion + $2.8 billion) / 2

= $5.5 billion / 2

= $2.74 billion

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= Net annual credit sale ÷ Average accounts receivable

= $20.0 billion: $2.74 billion

= 7.3 time.

  • 3M's average collection period for accounts receivable in days

= 365/Accounts Receivable turnover ratio:

= 365/7.3

= 50 days.

5 0
2 years ago
Read 2 more answers
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