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SSSSS [86.1K]
3 years ago
6

Characteristics of competitive markets

Business
1 answer:
Greeley [361]3 years ago
7 0

Answer:

Explanation:

First scenario: The answer is No, not many sellers. The drug of the pharmaceutical company has patent right and it is the only firm selling this product. This makes the company a monopolist (single seller)

Second scenario: No, not an identical product. Cable company and phone company produce different products. Cable companies majorly deal with television access.

Third Scenario: no, not many sellers. One firm is dominating the market and customers prefers this. Its product has been differentiated and it can charge its own price.

Fourth scenario: yes,meets all assumptions. The socks are identical and consumers do not care about the seller because the same utility will be derived from the socks.

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This level is at the top, it is composed of the members of the board of directors (BOD) and at the chief executive and administr
algol [13]

Answer:

The board of directors, including the general manager or CEO (chief executive officer), has very defined roles and responsibilities within the business organization. ... Conversely, management is not responsible for the overall policy decisions of ... top candidates who will bring financial success to the value-added business.

Explanation:

5 0
3 years ago
n the industry and the community, Tri-State is known for its low-cost business strategy, but also as a company that is generous
Snezhnost [94]

Answer:

Tri-State's social actions would be classified as:

Corporate Social Responsibility.

Explanation:

Corporate Social Responsibility involves alignment or integration of the social and environmental concerns with the entity's operations and economic responsibilities for sustainable organizational development.  It enables a business entity to remain relevant and accountable.  Companies like Tri-State are increasingly trying to make a difference in their environments while building positive brand image by giving back to their community, taking active part in philanthrope, and providing positive social values.

4 0
3 years ago
On June 1, 2021, Andres Property Management entered into a 2-year contract to oversee leasing and maintenance for an apartment b
Romashka [77]

Answer:

429,260

Explanation:

Contract commencement date = July 1 , 2021

Contract payment term = $56,000 / annual

Additional 15% ($8,400) at the end of each year if occupancy exceeds 90%

Estimate of meeting occupancy threshold  = 30%

At the year end 2012, Contract timeline = 6 month (1/2 year)

Base revenue recognized 56000/2 = $28,000

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7 0
3 years ago
An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy c
Lelechka [254]

Answer: See explanation

Explanation:

a. Calculate the productivity for navy and army contracts in units produced per labor hour.

Based on the information given, for the navy contract, the total man hours to make 3380 devices will be:

= 34 × 40 × 2

= 2720 hours

Therefore, the devices per man hour will be:

= 3380/2720

= 1.24 devices per labor hour.

For the army contract, the total man hours to make 7480 devices will be:

= 44 × 40 × 2

= 3520 hours

Therefore, the devices per labor hour will be:

= 7480/3520

= 2.125 devices per labor hour

b. On which contract were the workers more productive?

The workers were more productive on the Army contract as they produced more devices per labor hour.

6 0
3 years ago
Difference between perpetual and periodic inventory system
likoan [24]

Answer:

In a perpetual inventory system, the cost of goods is recorded at the time of sale. With a periodic inventory system, it's updated periodically.

5 0
3 years ago
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