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Scilla [17]
3 years ago
12

If the marginal cost for oligopolies or cartels suddenly fell due to a new technology, then these firms would also be forced to

cut their prices.A. This is a true statement.B. This is a false statement.C. This is a true statement and the ATC would also fall.D. None of the above.
Business
1 answer:
Natasha2012 [34]3 years ago
6 0

Answer: The correct answer is "B. This is a false statement.".

Explanation: If they are companies that compete with each other, depending on the behavior of each one, it will be determined whether or not they are forced to lower prices. But if it is a cartel which colludes for the benefit of all, surely companies would choose to keep prices at the same level since, having a lower cost, would imply a greater benefit.

You might be interested in
A reference group acts as a point of comparison and as a source of information for an individual.
Eva8 [605]

Answer:

True

Explanation:

A reference group is that group in which the comparison is made between the individual person or the group as the case may be.

In this group, the evaluation of individual taken place with respect to nature, behaviors, and characteristics so that they can know about them i.e performance, aims, etc

Thus, it is a mix of comparison, evaluation, and personal attributes

7 0
3 years ago
Sparks Fireworks manufactures and sells fireworks. Their raw materials used is $71,500. Their beginning raw materials inventory
algol13

Answer:

The correct answer would be, $70500

Explanation:

Raw Material Turnover means what amount of raw materials is used within a specific period of time. So the raw material turnover would be calculated by adding the beginning inventory with the amount of material used within the period, and then the remaining material will be deducted. So the whole calculations are shown as follows:

Beginning Raw Material Inventory: $5000

Raw Material Used:                $71500

Ending Raw Material Inventory:    $6000

Raw Material Inventory Turnover:

Beginning Inventory + Raw Material Used - Ending Raw Material

= 5000+71500-6000= $70500

7 0
3 years ago
Why is scarcity a fundamental problem in economics
KATRIN_1 [288]

Answer:

Scarcity or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants.

Explanation:

Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans.

8 0
2 years ago
Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units wasâ $750. What is the jour
horsena [70]

Answer:

B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750

Explanation:

The journal entry to record this transaction is shown below:

Work-in-Process Inventory A/c - Department 2 $750

               To Work-in-Process Inventory A/c - Department 1 $750

(Being the completed units are transferred)

For recording this transaction we debited the work in process department 2 and credited the work in process department 1

4 0
3 years ago
Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrep
son4ous [18]

Answer:

The options are wrong,find below correct multiple choices:

$605,000

$825,000

$655,000

$150,000

The correct option is $605,000

Explanation:

Explicit costs are costs  incurred  that require actual cash settlement not costs of alternative forgone as in the case of implicit costs.

There is only example of explicit cost for Harvey Business in the first year of operation,which is the cost of production,packaging,marketing,employee wages and benefits and rent on a building.

In other words,the explicit costs incurred in year one =$55*11,000 units

                                                                                          =$605,000

The correct option  is the of those ones provided above.

3 0
3 years ago
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