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timofeeve [1]
3 years ago
15

When economists think about market structures, they include market structures like pure monopoly and pure competition that are v

ery rare in the real world. Why do economists spend time thinking about conditions that almost never exist?
Business
1 answer:
Kisachek [45]3 years ago
7 0

Answer:

As explained below.

Explanation:

  • Asan economist the market is characterized by the interplay of 4 major fields like the Oligopoly, Monopoly, Perfect competition, Monopolistic competition. <u>Thus these structures were given by Adam Smith and his fellow Karl Marx. </u>
  • As an economist, he emphasized the laissez-faire model that is hard to find operating in a market as of the existence in 20 and the 21st century. The presence of the monopolistic competition which is a type of imperfect competition is that many producers sell or services that are different nature without carrying for the prices.
  • The oligopoly structure is either run by duopoly or monopoly or by the Ologospony which represents the market by many sellers but the demands of the few buyers.
  • The presence of perfect competition creates certain barriers ronery of the producers and consumers. However, these all tend to differ from the natural monopoly of one provider of a group of series meeting the one market.  
  • Hence certain market structures are related to the pecking and competitiveness in the market domain thus economists have o study them is greater depths.
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It costs​ Homer's Manufacturing to produce baseballs and Homer sells them for a piece. Homer pays a sales commission of​ 5% of s
Nonamiya [84]

Answer:

$105,075

Explanation:

The computation of the operating income is shown below:

Sales (4 × 69,500)                                              $278,000

Less:Variable costs (0.95 × 69,500 + 5% × 278,000)  $79,925

Contribution margin                                                     $198,075

Less: fixed cost (13,000 + 80,000)                      $93,000

Net operating income                                                 $105,075

We simply deduct the variable cost and the fixed cost from the sales to arrive at the net operating income

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3 years ago
Under former CEO Kalanick, when Uber entered into a new market, it often disregarded local laws and allowed its drivers to begin
qaws [65]

Answer:

  Is the proposed action legal?

Explanation:

The very first step in the decision tree (below) was ignored. Disregarding local laws is ignoring the question of legality.

8 0
3 years ago
You have just started your first job and are already planning for retirement. You plan on retiring in 31 years. To support your
Studentka2010 [4]

Answer:

$10,883

Explanation:

n = 31 years

Future value (FV) = 1,980,000 (The amount you need in 31 years for retirement)

i/r = 10% (given)

Present value (PV) = 0 (You have just started your job and have not reserved any amounts for retirement)

PMT (Monthly deposit needed) = ?

By using financial calculator, PMT = $10,883

4 0
2 years ago
Financial goals are helpful because they?
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I think the answer to this is A.
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5 0
3 years ago
Hart Company made 3,040 bookshelves using 22,040 board feet of wood costing $271,092. The company's direct materials standards f
kifflom [539]

1. a. The computation of the direct materials price variance is as follows:

= $2,204 ($12.20 - $12.30) x 22,040) Unfavorable

1.b. The computation of the direct materials quantity variance is as follows:

= $27,816 (24,320 - 22,040) x $12.20) Favorable

2. The direct materials variance that Hart will investigate further is the <em>direct materials quantity variance</em>, which is 10.3% ($27,816/$271,092 x 100) of the actual direct materials costs instead of the<em> </em><em>direct materials price variance</em>, which is only 0.8% of the actual direct materials costs.

3. The journal entry to charge direct materials costs to Work in Process Inventory and record and close the materials variances are as follows:

a. Recording the Direct Materials Costs and Variances

Debit Work in Process $296,704 ($12.20 x 8 x 3,040)

Debit Direct Materials Price Variance $2,204

Credit Direct Materials Quantity Variance $27,816

Credit Raw Materials $271,092

  • To record the charge of direct materials to work in process based on standard cost.

b. Closing the Direct Materials Variances:

Debit Direct Materials Quantity Variance $27,816

Credit Direct Materials Price Variance $2,204

Credit Cost of Goods Sold $25,612

  • To close direct materials variances to the cost of goods sold.

Data and Calculations:

Units of bookshelves produced = 3,040

Feet of board used = 22,040

Cost of board feet of wood = $271,092

Per Unit        Standard     Actual

Price               $12.20      $12.30 ($271,092/22,040)

Board feet        8              7.25 (22,040/3,040)

Learn more the computation of direct materials variances here: brainly.com/question/16048600

3 0
2 years ago
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