Answer:
A decrease in the elasticity of demand for the cartel's product.
Explanation:
The cartel is under the control of companies operating in the same area. This is undesirable. It is concluded between businesses and these contracts prevent competition. Such arrangements are also prevented by governments, which aims to promote competition among governments across the country. This type of arrangement creates unity and demonstrates business behavior in activities that prevent other competitors from entering the sector.
Adverse effects on consumers include:
1) Higher prices - cartel members can raise prices, which reduces the demand elasticity of any member.
2) Lack of Transparency - Members may agree to hide prices or hide information such as hidden charges in credit card transactions.
3) Limited production - Members may agree to limit market production, such as OPEC and oil quotas.
4) Build Market - Cartel members can collectively divide a market into regions or regions and not compete in each other's territory.
Answer:
Current liabilities: Accounts payable$130,000
Sales tax payable 8,800
Warranty Payable 4,000
Interest payable 667
Notes payable 50,000
Total current liabilities$193,467
Explanation:
<span>These are monopoly market structures. This is where the person or company selling items does not face competition and is the only person or company selling the items with no competitor that has a close substitute. This is an imperfect kind of competition.</span>
Answer: Under the Equal Pay Act: <u>"d. Wage differentials based on a seniority system are allowed.".</u>
Explanation: The Equal Pay Act states that no employer should discriminate based on sex when paying wages for equal work in jobs But that wage differences can be established according to an seniority system (is allowed).
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Standard cost= 6.90 per ounce
Standard quantity= 4.8 ounces per unit
Actual output 2,100units
Actual price of raw materials $7.80 per ounce
Actual cost of raw materials purchased $81,900
Raw materials used in production 10,090 ounces.
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (6.9 - 7.8)*10,090= $9,081 unfavorable
