.70 since the top 8 firms produce 70% of the output.
Answer: The goal of a cartel is to <u><em>maximize industry profits</em></u>
A cartel is a abstraction of seemingly independent producers whose goal is to increase their agglomerated profits by instrumentation of price fixing, limiting the supply, and other constraining activity. They typically control selling prices, but some are arranged to force down the prices of option.
<u><em>Therefore, the correct option in this case is (b)</em></u>
Answer:
should switch to a new more aggressive type of marketing
Explanation:
Based on the information provided within the question it seems that Magnira Corp has a good product since it saw a huge rise in profits and customers. This being the case she should switch to a new more aggressive type of marketing in order to reach a wider audience and convince them that Magnira Corp's products are better than the competition's.
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The total interest earned at the end of 4 years is $2,507. 90.
The formula for determining simple interest is: Principal x interest rate x time
$4000 x 3.2% x 4 = $512.
The formula for determining interest with compounding is: future value - amount invested.
The formula for calculating future value:
FV = P (1 + r/m)^nm
- FV = Future value
- P = Present value
- R = interest rate
- m = number of compounding
- N = number of years
Future value of the savings account = $4000 x (1.021)^4 = $4346.73
Interest = $4346.73 - $4000 = $346.73
Future value of the certificate of deposit = $7500 x (1.0125)^16 = $9149.17
Interest = $9149.17 - $7500 = $1649.17
Total interest = $1649.17 + $346.73 + $512. = $2,507. 90.
To learn more about future value, please check: brainly.com/question/18760477
Answer:
The correct answer is the last statement.
Explanation:
A monopolistic market has a large number of buyers and sellers. The sellers produce close substitutes. The firms rely on advertising. There is a relatively higher degree of competition and restriction on entry as compared to a perfectly competitive market. The firms are able to maximize profit at the point where marginal cost is equal to marginal benefit.
In a perfectly competitive market, however, there are large number of buyers and sellers. These sellers produce homogenous products. There is no restriction on entry and exit of the new firms. The profit is maximized at the point where price, marginal revenue, and, average revenue are equal to marginal cost.