Considering the situation described above, the alternative view about why it may make sense to tolerate the existence of some monopoly firms is that "Monopolies do reduce consumers surplus by producing less and charging more than the outcomes that would occur in a competitive market, but at times it makes sense to sacrifice some efficiency.
This can be illustrated in a situation whereby certain goods or services may not be available except through the chance of earning monopoly profits. This occurs whereby a patent ensures there are incentives for research and development.
In some other cases, it is more ideal if good is produced by a monopolist rather than by multiple producers due to the large fixed costs in production; thereby, with more profits, the price of products would reduce in the long run.
Hence, in this case, it is concluded that there are situations whereby Monopoly is necessary to provide goods and services for the people in a society.
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Answer:
The correct answer is D.
Explanation:
Giving the following information:
Materials handling $27,000
Direct materials $3,000 Direct labor (600 hours) $9,000 Number of material moves 4
Expected activity for the four activity drivers that would be used are: Machine hours 5,000 Material moves 600 Setups 200 Quality inspections 1,000
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 27,000/600= $45 per material move
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 45*4= $180
I think that having permanent employees is better because they will have more experience and you will get to see the type of person they are.
Jobs argument justifications is the pundit using to argue for the trade restriction on steel rods
Explanation:
A main argument often put forward to curb trade would be that trade decreases the amount of jobs domestically available.
The point about maintaining jobs is often put forward by employers to protect union jobs. Nevertheless, unions are undermining the market by prohibiting businesses from receiving their products at lower prices, causing them to increase prices. Moreover, businesses are often discouraged from using automation or robotics to retain jobs, which is ironic because automation and robotics improve the productivity of workers, thereby encouraging companies to pay employee salaries and benefits.
Answer:
to generate prosperity and produce goods and services that meet people's needs and improve their lives.
Explanation:
Because businesses cannot outgrow the economy of their communities