Answer:
C.Implied warranty
Explanation:
An implied warranty is an assumed assurance that the product purchased is fit to function as intended. The implied warranty can be oral, written, or silent.
An implied warranty protects customers from dishonest traders. All products and some services carry an implied warranty, written or not. The warranty guarantees that the product conforms to the buyer's expectations. For example, if you buy a car, you expect the engine to start and the vehicle to move.
Frank has an implied warranty. He's expectations are the blind will work. Products with an implied warranty may also come with other forms of assurances such as express or full warranties.
Answer:
A B
A concentration ratio is used to measure... market dominance
Percentage of total industry output accounted for by the largest firms in the industry is termed... the concentration ratio
The sum of the squared market shares of each firm in an industry is termed ... the Herfindahl-Herschman Index
Explanation:
Answer:
Profit is higher, and output level is lower in Cournot.
Explanation:
Cournot competition is a type of economic model which describes an industry setting whereby firms that produce the same product compete on the amount of product to manufacture.
This type of competition involves more than one firm in which each firm's output decision affects the price of the product in the market. In cournot equilibrum each firm decide on the quantity of products to produce inorder to maximise profit.
Answer:
E. How much cash should the firm keep in reserve?
Explanation:
- The working capital is the capital decision that is a decision that the firms take to combine the policies and the techniques for the management. And also state how the form should keep and use its resources or reserves and also is a measure of the liquidity of the firm and gives the inventors more information to the analysis.
