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svetlana [45]
3 years ago
7

For each market listed below, determine whether it is best characterized as a Cournot oligopoly, Stackelberg oligopoly, or Bertr

and oligopoly.
a. Oil production. Each firm produces output independently and the market price is determined by the total amount produced.

i. Stackelberg oligopoly
ii. Cournot oligopoly
iii. Bertrand oligopoly
b. Diamond production. DeBeers is the leader that sets diamond production, and smaller firms follow with their own levels of production.

i. Stackelberg oligopoly ii. Cournot oligopoly iii. Bertrand oligopoly
c. Competitive bidding by identical contractors. The contractor bidding the lowest fee wins the contract

i. Cournot oligopoly
ii. Bertrand oligopoly
iii. Stackelberg oligopoly
Business
1 answer:
Semenov [28]3 years ago
3 0

Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly

Explanation:

Cournot Model: In Cournot model, firms produce output independently and then set their prices. In this type of model, the products are typically standardized.

Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.

Bertrand Model: In this model, firms have interaction with buyers in order to set prices and quantities.

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During March, the production department of a process operations system completed and transferred to finished goods 25,000 units
amid [387]

Answer:

140,000 units and 130,250 units

Explanation:

The computations are shown below:

For Material cost:

= Transferred units × percentage of completion + ending work in process inventory units × percentage of completion

=  110,000 units × 100% + 30,000 units × 100%

=  110,000 units + 30,000 units

= 140,000 units

For Conversion cost:

= Beginning work in progress units × remaining completion + Transferred units × percentage of completion + ending work in process inventory units × percentage of completion

= 25,000 units × 45% + 110,000 units × 100% + 30,000 units × 30%

= 11,250 units + 110,000 units + 9,000 units

= 130,250 units

The remaining percentage would be

= 100% - 55%

= 45%

4 0
3 years ago
Herzberg's motivational factors and Maslow's esteem and self-actualization needs are similar. Explain how organizations can meet
Taya2010 [7]

Answer:

Organizations can meet the human needs identified by Maslow by studying and implementing the motivational factors specified by Herzberg.

The similarity of Herzberg's motivational factors and Maslow's esteem and self-actualization needs is addressed by the following questions: "What do people really want from their work?"  "How do organizations go about meeting these needs or ensuring that the needs are met?"

The answer is in the awareness of what workers want from the work they carry out for organizations.  As Maslow stated, people generally have five human needs: physiological needs, safety needs, social belonging, self-esteem, and self-actualization (later described as  transcendence).   It is only when the basic needs (physiological needs, safety needs, and social belonging and love needs) are satisfied  in that order, that workers would seek self-esteem and self-actualization or transcendence.  It is also at this level of seeking self-esteem and self-actualization that organizations would derive the greatest benefits from their workers.  It then behoves organizations to ensure that the basic needs are not denied, but to push forward to help their workers attain self-esteem and self-actualization.

Herzberg's motivational factors show that it is the responsibility of organizations to ensure that their workers achieve a sense of achievement in the work they do.  They should also be recognized for doing good jobs.  The nature of the work should be such that it does not demean the worker.  There should be dignity of labor.  Workers achieve more when they are made responsible for the outcome of their work.   Being assigned responsibilities help them to advance and and grow.  Organizations also need to manage well the extrinsic job elements that Herzberg identified as "hygiene factors," which concentrate on the work environment.

Explanation:

a) Frederick Herzberg identified certain job factors that bring about employee job satisfaction whereas others can create job dissatisfaction. According to Herzberg, "motivating factors (also called satisfiers) are primarily intrinsic job elements that lead to satisfaction, such as achievement, recognition, the (nature of) work itself, responsibility, advancement, and growth."  The dissatisfiers, on the other hand, he called "hygiene factors."   They are "extrinsic elements of the work environment such as company policy, relationships with supervisors, working conditions, relationships with peers and subordinates, salary and benefits, and job security, which can result in job dissatisfaction if not well managed."  An interesting result of Herzberg’s studies was that "the opposite of satisfaction is not dissatisfaction."  Herzberg's studies established that proper management of hygiene factors could prevent employee dissatisfaction, but that these factors could not serve as a source of satisfaction or motivation.  The summary is that motivational factors are quite distinct from hygiene factors.

b) Maslow identified the following hierarchy of human needs: physiological needs, safety needs, social belonging, self-esteem, and self-actualization (later described as  transcendence).  The hierarchy of needs, according to Maslow, show how humans essentially partake in behavioral motivation.   The summary of Maslow's hierarchy of human needs is that "people are motivated to fulfill basic needs before moving on to other, more advanced needs."

8 0
3 years ago
Ralph Watkins owns a large home on a two-acre lot in Tempe, Arizona. Watkins has much of the lot covered with tiff grass and is
kakasveta [241]

Answer:

(C) Brown could seek an injunction against Watkins, on the basis of nuisance

Explanation:

The bugs and pests from Watkins grass clipping pile are a menace to his neighbour Brown.

Brown has tried extermination but the source of the problem, which is still there, makes his efforts futile.

Brown now has the right to seek an injunction - a court order controlling or restricting a person's behaviour - against Watkins on the basis of nuisance.

Watkins should comply

5 0
3 years ago
Cartels are difficult to maintain because a. ​the monopoly output is very difficult to determine. b. ​the number of firms is alw
Ostrovityanka [42]

Answer:

The correct answer is option d.

Explanation:

Cartels are generally formed in oligopoly markets. In such markets there are few firms which are interdependent. So, they form cartels to enjoy monopoly power.

Though cartels are generally short lived and difficult to maintain. The reason behind this is that each firm has the incentive to deviate and produce more than their quota in order to capture more market share.

So, option d is the correct answer here.

6 0
3 years ago
Some economists argue that competitive price-searcher markets are inefficient because
inna [77]

Answer:

A competitive price-searcher market is a market where there are low entry or exit barriers, and the suppliers can determine the price of their products. Some economists believe that this type of market is inefficient because the suppliers are not able to sell enough output in order to minimize their average costs. Since the demand is very elastic in price searcher markets, any price change will cause a drastic change in the quantity demanded.

Price searcher markets share a lot of similarities with perfect competition markets, the main difference is that suppliers and consumers are not price takers. This means that any supplier can change their sales output by changing their price, which leads to greater competition.

8 0
3 years ago
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