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Elenna [48]
3 years ago
15

Harvey Rabbitt pays for monthly cable TV service. Last​ week, the cable company informed Harvey that his monthly cable price wou

ld go down because the city council has granted approval for three new cable companies to service his area. How is the market for cable TV services affected by​ this?
Business
1 answer:
hichkok12 [17]3 years ago
8 0

Answer:

The company pass from monopoly to a competitive market.

The new companies increase the supply and therefore, the equilibrium price decreases.

Explanation:

The approval of new cable companies generates an increase in the supply. As the suply shift to the right the quantity (people wiht a monthly cable service) will increase and the price (monthly fee) decrease.

Harvey's Company is already starting to decrease his price to do an effort to retain his customer. This company is no longer a monopoly so it will decrease price to be more competitive.

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7 0
3 years ago
"The gross earnings of factory workers for Dinkel Company during the month of January are $400,000. The employer's payroll taxes
Zepler [3.9K]

Answer and Explanation:

The Journal entry is shown below:-

Factory labor Dr, $480,000

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3 years ago
Question 7 Which combination of factors would result in the lowest monthly mortgage payment? A Big down payment, a longer term l
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3 0
3 years ago
The current spot exchange rate is $1.55/£ and the three-month forward rate is $1.50/£. Based on your analysis of the exchange ra
Misha Larkins [42]

Answer:

b. Buy £1,000,000 forward for $1.50/£.

Explanation:

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4 0
3 years ago
A buyer will receive a utilities bill for an estimated $400 at the end of the month. At closing, the seller has used an estimate
MrMuchimi

Answer:

Dr Seller Account $100

Cr Buyer Account      $100

Explanation:

The property sold on 15th of the month by Mr. A to Mr. B and the utility bill received later of this month would be split between Mr. A and Mr. B. The basis for the split of the utility bills would be the share that Mr. A utilized the facilities and in this scenario, it is $100. Hence the buyer Mr. B has receivable of $100 and the seller Mr. A has a liability payable of $100 amount.

Hence the buyer will debit the bill by $100 receivable and the Seller will debit the bill owed to buyer by $100.

3 0
3 years ago
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