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Alexeev081 [22]
3 years ago
15

What is the term that describes a group of firms cooperating with each other in order to avoid competition?

Business
1 answer:
Marrrta [24]3 years ago
7 0
The right answer for the question that is being asked and shown above is that: "communication" the term that describes a group of firms cooperating with each other in order to avoid competition is that of <span>communication</span>
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Who is credited with pioneering the principles of the scientific approach to management ?
Zinaida [17]

Answer:

Frederick Winslow Taylor

Frederick Winslow Taylor was an American mechanical engineer. He was widely known for his methods to improve industrial efficiency. He was one of the first management consultants. 

3 0
3 years ago
Read 2 more answers
If the marginal benefit of one more unit of a public good is $500 for Sam and $300 for Alex, the social benefit of one more unit
Alja [10]

Answer: $800 since the benefit of one more unit goes to both individuals.

Explanation:

The benefit of one more public good will go to both Sam and Alex. For this reason, the total benefit is the sum of the benefits that go to the both of them.

Sam benefits $500 and Alex benefits $300.

= 300 + 500

= $800

$800 goes to the both of them and so is the social benefit of one more unit of the public good.

8 0
3 years ago
Nature's Garden, a new restaurant situated on a busy highway in Pomona, California, specializes in a chef's salad selling for $7
mestny [16]

Answer:

Nature's Garden

a. Determination of the current average cost per meal:

Variable cost per meal = $3,800 ($4 x 950) based on full capacity

Fixed costs per day =        $1,710

Total costs =                     $5,510

Average cost per meal = $5,510/950 = $5.80

b. Girl Scouts' offer of $150 for 30 girls:

Offered price per person = $5 ($150/30)

Projecting a loss of $0.60 per meal, this gives a total loss of $18 ($0.60 x 30)

Projected revenue from the offer = $150 + $18 = $168

Projected revenue per meal = $168/30 = $5.60

Actual revenue to be received per meal = $5.00

Loss of $0.60

The owner arrived at the $0.60 loss because his total costs per meal was $5.60.

c. Since the variable cost per meal is $4, the restaurant owner could accept the offer if the additional 300 meals will not increase his daily fixed costs due to lack of capacity.  If the fixed costs increase with this addition, then it may not be reasonable to accept the offer.  Based on this offer, the contribution to defraying fixed costs, given present capacity, is only $0.50 ($4.50 - $4) per meal.

Explanation:

Selling price of chef's salad = $7

Daily fixed costs = $1,710

Variable costs per meal = $4

Meals capacity per day = 950

Average meals = 900

Nature's Garden has a fixed cost of $1,710 based on current capacity of 950 meals per day.  The fixed cost may increase with increasing capacity.  This fact must be borne in mind when making decisions.

4 0
4 years ago
Describe an important difference in the way an economist and a businessperson might view a monopoly.
Umnica [9.8K]

Answer:

<h3>An economist would view a monopoly as not beneficial and optimal to society. A businessperson would view monopolies as a great idea to maximize profits due to the lack of competition</h3>

Explanation:

hope it's helps you if i am sorry if my answer is wrong

8 0
3 years ago
The exit of existing firms from a competitive market will a. decrease market supply and increase market price. b. decrease marke
makvit [3.9K]

Answer:

The correct answer is option A.

Explanation:

The exit of existing firms from the market will reduce the overall market supply. This will cause the market supply curve to move to the left.

This leftward shift in the market supply curve will lead to an increase in the equilibrium price. The equilibrium quantity will be reduced.

The other firms in the market will get more market share and higher profits.

4 0
3 years ago
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