Answer:
Natural monopoly
Explanation:
A natural monopoly refers to a type of monopoly that occurs when the start-up costs or infrastructural costs are high or economies of scale in an industry are very powerful in such a way that only the largest supplier in the industry which is usually the first supplier in the market has a great advantage over potential competitors and therefore becomes the only supplier in the industry.
On the long-run average cost (LRAC) curve, a natural monopoly exists when the quantity demanded is less than the minimum quantity that is required to be at the bottom of the LRAC curve.
Therefore, a <u>natural monopoly</u> exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.
Answer:
True
Explanation:
Richard De George is known for his work in business ethics. He discussed the conditions to permit whistle-blowing.
According to De George, whistle-blowing is permitted as moral authority when these 3 conditions are met:
1) The harm that will be done by the product [or company action] to the public is severe and considerable.
2) The engineer has told their superiors about their concern
3) The engineer has not received a satisfactory answer from their supervisors and also from other superiors and he is left with no other alternatives.
According to De George, whistle-blowing is mandatory as moral duty when these 2 additional conditions are met:
4) The engineer must have documented evidence that would convince a reasonable observer that his or her view is correct
5) There must be strong evidence that making the information public will in fact prevent the threaten serious harm.
Answer:
a debit to Accounts Payable for $1,400 and a $1,400 credit to Purchase Returns allowances
Explanation:
Periodic inventory system is one that updates information on inventory on a periodic basis. This is opposite of perpetual inventory system that requires update of inventory system at all times.
In the scenario the merchandiser bought the goods on account. That means he did not pay cash but rather bought on credit.
On purchasing the items accounts payable will be credited thereby increasing the account balance.
Since the items are being returned a debit will be applied to accounts payable resulting in a decrease in the account balance.
A credit will now be posted to purchase returns allowances to show that products have been returned by a buyer
In pursing its own interest, an oligopoly firm will decide to increase production by 1 unit as long as the output effect is larger than the price effect. An oligopoly happens when there is limited competition because there are only a small number of producers or sellers in the market. Due to limited competition there is no need for most of these businesses to produce more unless the output is going to produce more and become sustainable for their consumers demand.
In this instance, Holly would be able to deduct all of these expenses if she is not reimbursed from her employer.
