Answer:
A. Has a small number of rival firms, and each is large relative to the size of the market
Explanation:
Oligopoly: This is a market structure which comprises of small number of large firms that bhave all or most of the sales in an industry.
It refers to a market situation in which a few firms control the supply of goods. The firms are few in number but each firm is large enough to be able to control the total industry output.
Increase in a firms output will reduce the sales of competitor firms.
Features of Oligopoly
1. Firms are interdependence on each other
2. Entry is difficult.
3. Firms are price setters. They set prices to maximize Profit.
4.There is the existence of competitors.
5. Large amount of capital is required in oligopoly
6. There are few sellers
Answer:
The cost of an slice of pizza is $3.94
Explanation:
Hi, we have to construct 2 equations with the information of the problem, the first one is " 8 slices of pizza and 7 soft drinks for $45.10".
And the second one, when "The second group bought 6 slices of pizza and 5 soft drinks for $33.34" is.
Where: P = pizza slices and D= soft drinks
We need to substract one equation from the other, but firs we need to equal one of the variables. In order to do so, we multiply our first equation by 5 and the second one for 7, therefore we get.
First equation
And the second one:
And now, we substract them and solve.
The cost of a slide of pizza is $3.94
In case you needed to find the cost of the soft drink, we just substitute P for 3.94 in any of the initial equations, that is:
The cost of a soft drink is $1.94
Best of luck.
Answer:
$1,700
Explanation:
Given that,
Purchase of raw materials inventory = $1,000
Assignment of raw materials inventory to Job 5 = $500
Payroll for 20 hours with $1,000 assigned to Job 5
Factory utility bills = $750
Overhead applied at the rate = $10 per hour
Cost assigned to Job 5 at the end of the week:
= Raw materials inventory to Job 5 + Labor cost + Manufacturing Overhead applied
= $500 + $1,000 + ($10 per hour × 20 hours)
= $500 + $1,000 + $200
= $1,700
