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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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3 years ago
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If the law of increasing opportunity costs is operable, and currently the opportunity cost of producing the 101st unit of good X
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Answer:

C) more than 5Y

Explanation:

the opportunity cost of producing 101 units of X = 5 units of Y

if the opportunity costs increase as the number of units produced increases, then the opportunity cost of producing 201 units of X will be more than 5 unit of Y. This is simply because 5 units of Y was the opportunity cost of producing 101 units of X and the opportunity costs are increased.

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3 years ago
Bruce is the owner of Orion Inc., a manufacturer of electronic gadgets. He wants to hire the most honest job applicants as marke
Evgesh-ka [11]

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<u>Explanation: </u>

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6 0
3 years ago
The Cutting Department at Blanc Company had beginning work in process inventory of 4,000 units, transferred out 9,000 units, and
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Answer:

The number of units started into production is 7,000.

Explanation:

Number of units started into production = Units transferred out + units of ending work in process - units of beginning work in process

                                                                   = 9,000 + 2,000 - 4,000

                                                                   = 7,000

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