Answer:
A written warranty promises replacement or refund for defective products.
Olivia Johnson makes $125,000 a year as an exempt employee. if Olivia was paid on a biweekly basis her gross pay would be $ 5208.33.
<h3>What do you mean by Gross pay?</h3>
Before any deductions are done, a person's gross pay is their total earnings for a specific time period. Deductions such as mandated taxes and Medicare contributions, as well as deductions for company health insurance or retirement funds, are not taken into account when calculating gross pay. The gross pay definition differs from the net pay definition in that it does not include an individual's take-home pay.
The formula to calculate gross pay is mentioned below:
Net pay plus taxes and deductions equal gross pay.
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The correct answer to this open question is the following.
Although there are no options attached we can say the following.
An oligopoly can cause market failure because companies that form the oligopoly do not allow other companies to enter and compete in the market. This action limits consumers to choose from a variety of options, including quality, the best price, and service.
Often, oligopoly associates the strongest or more powerful companies in order to wipe out other minor competitors. They want to establish a dominant presence that affects prices and consumers participation.
Oligopoly practices result in inefficiency and instability in the market. That is why oligopolies are not good for the economy.
The automobile industry is mostly associated with an oligopoly.
When a market is controlled by just a few numbers of companies, but none of them is above the others, we are talking about an oligopoly. They can collude intentionally or not, to establish prizes and to not let other companies compete with them.
Answer:
works because prices serve as a means of communication between consumers and producers.
Explanation:
Market mechanism is the money is used as a medium of exchange between buyers and sellers in a open system of value (market).
In the market mechanism consumers are interested in maximising utility, while sellers want to maximise profit.
Demand and supply mechanics works to properly allocate resources according to fluctuations in price.
So market mechanism is successful because price has become a means of communication between buyers and sellers in their mission to maximise utility and profit.
