Answer:
Trade secret
Explanation:
A trade secret refers to things like a process, formula or design that a company owns that have an economic value and provide a competitive advantage and that are known only by certain people inside the organization. According to this, the answer is that in the business world, a trade secret is recognized as a legally acceptable way for any business to keep knowledge of its particular methods of production from being known by competing firms because trade secrets refer to intellectual property that allows the organization to have a competitive advantage and they are maintained as a secret to avoid competing firms to copy its methods.
Answer:
A- Both firms will set the price at $35
Explanation:
When there is no collusion,
When Y charges $40, X's best strategy is to charge $35 since payoff is higher ($59 > $57).
When Y charges $35, X's best strategy is to charge $35 since payoff is higher ($55 > $50).
When X charges $40, Y's best strategy is to charge $35 since payoff is higher ($69 > $60).
When X charges $35, Y's best strategy is to charge $35 since payoff is higher ($58 > $59).
Therefore Nash equilibrium is: ($35, $35).
The foundation of the U.S. economic system is considered to be capitalism. Capitalism is an economy system in which capital goods are owned by private individuals or business. The production of goods and services is based on demand and supply in the general market rather than through central planning.
Answer:
$29,760
Explanation:
Overhead application rate = 124% of direct labor cost
The required total labor costing = $24,000
Total overhead applied = Overhead application rate * $24,000
Total overhead applied = 124% * $24000
Total overhead applied = $29,760
Answer:
The productivity will be higher in Brazil.
Explanation:
Below is the given values:
Total annual output = $600 million
Working hours = 30 million hours
Total annual output in Peru = $800
Working hours in Peru = 50 million hours
The productivity will be higher in Brazil because per hour productivity is 600/30 = 20 million. While in Peru the per hour productivity is 800/50 = 16 million
Moreover, the variation in the living standard in the country will be due to the differences in productivity.
