Answer:
this situation can be classified as an duopoly
Explanation:
An duopoly is similar to a monopoly but instead of only supplier there are two suppliers that share total market power and control. Both companies also offer basically the same product or service. Competition exists between the companies but it is not significant, both companies decide to coexist. Customers are forced to choose between one company or the other.
In this case, there are only two taxi companies and the customers really don't care what company they use since they both offer similar services. None of the companies even bothers to offer a better service to try to gain a larger market share.
Answer: 40 pounds
Explanation:
Given the following :
Ordering cost = $10 / order
Carrying cost = 4 cents per pound per day
Cost of pepperoni = $3 per pound
Daily demand = 20 pounds
Order quantity = 80 pounds
Average inventory level at the time in which 80 pounds of pepperoni was ordered is given as
Average inventory level is given as :
Order quantity / 2
80 pounds / 2 = 40 pounds
Answer:
The price of money is a function of the prices of all other goods and services in the economy. Many economists proxy the price of money using the inverse of an aggregated price index. All else being equal, a higher price level implies a lower price of money; a lower price level implies a higher price of money
Answer:
McGregor would Debit Service Fee Expense for $6.
Explanation:
Data provided in the question:
Fee charged by the credit card company = 3% of the sales
Amount of payment made by the customer to McGregor for the service = $200
Now,
The amount of fees charged on the transaction bu the credit card company
= 3% of $200
= 0.03 × $200
= $6
Since, this fees is an expense for the McGregor
Hence,
McGregor would Debit Service Fee Expense for $6.
