Answer:
True
Explanation:
Cartel
It is important to define a cartel before explaining the question. A Cartel represents a group of firms that come together for making price and output decisions about their products.
Monopoly is one of the main reasons for the rise of Cartels. Cartel members are organisations in markets where there are very few firms and each firm has a significant share of the markets. An example of this is the Organisation of Petroleum Exporting Countries (OPEC).
The Petroleum market is monopolistic in the sense that a few countries are responsible for the crude oil and related products that are used by all countries around the world, hence, OPEC was formed to regulate the actions; production level and price of the Oil produced and processed for regulatory purposes.
Why it is difficult to maintain Cartel Agreements
It is difficult to maintain cartel agreements because individual members will always attempt to cheat and by-pass the agreement to produce beyond the agreed quota just to increase their share of the cartel's profits.
Individual members can always produce above their quota to take advantage of the large market and monopolistic situation to make more monopoly profit.
This difficulty is one of the reasons why there are few Cartels available and it is also why the OPEC has had difficulties monitoring the activities of its members over the years.
Answer:
1. The labor force = 65 (68 - 3)
2. The working age population = 79 (105 - 26)
3. The number of employed workers = 38 (25 + 13)
4. The number of unemployed workers = 3 (11 - 8)
Explanation:
a) Data and Calculations:
Population in houses visited = 105
Number of children = 26
Number of adults = 79 (105 - 26)
Workers with:
Full-time jobs = 25
Part-time jobs = 13 38
Number of retirees = 10
Full-time homemakers 5
Full-time students, +16 12 65
Disabled people = 3 = 68
Unemployed = 11 (79 - 68)
Answer:
Answer: b
Explanation:
NRV=$120,000 – ($120,000 x 10%) = $108,000$90,000cost is less than net realizable value of $108,000 cost
Answer:
The present value is the value today of a sum of money to be received in the future and in general is less than the future value.
Explanation:
The formula to compute the present value is shown below:
Future value = Present value × (1 + interest rate)^number of years
or Present value = Future value ÷ (1 + interest rate)^number of years
Let us take an example
Present value = $2,750
Rate = 5.25% ÷ 2 = 2.625%
Number of years = 1 year × 2 = 2 years
So, the future value
= $2,750 × (1 + 2.625%)^2
= $2,750 × 1.0531890625
= $2,896.27
It is done on semi annual basis. As we can see that the present value is less than the future value
