Answer:
Is relatively independent; an oligopoly is interdependent.
Explanation:
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
I. Mutual interdependence between the firms.
II. Market control by many small firms.
III. Difficult entry to new firms.
One of the main differences between an oligopolistic firm and a monopolistically competitive firm is that a monopolistically competitive firm is relatively independent; an oligopoly is interdependent.
Answer:
C) maturity
Explanation:
The four stages of the product life cycle are:
- Introduction Stage
-
Growth Stage
-
Maturity Stage: at this stage the product is already well established and its sales growth rate slows down. The highest sales level are achieved at this stage. This is also the stage at which the product faces the most competition, so the companies must modify and improve their products.
-
Decline Stage
The process of documenting project procurement decisions specifying the approach and identifying potential sellers
Answer:
B) Sales discounts.
Explanation:
Sales Discount is a contra revenue account which is adjusted in the sales to calculate the net sales value.
As the following transaction is already been recorded at the time of sale
Dr. Account receivable xxxx
Cr. Sales xxxx
Sales account will not be debited to adjust the transaction. we will record this transaction in sales discount account which will ultimately adjusted.
The type of externality where market equilibrium quantity produced will be more than socially optimal quantity in absence of governemtn intervention is Negative externality.
Let understand that whenever a production of good or service negatively affect the unrelated third party who is not directly involved in a market transaction, it is said that negative externality exists in the scenario.
A very good example of commonly cited Negative Externalities are air pollution and noise pollution which was caused during production an affects unrelated third party.
If there is presence of government intervention in the production, then, the production of goods or service will be halted.
Therefore, in conclusion, this type of externality is called the Negative Externality.
Read more about Negative Externality here
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