Answer: It will lead to consumption of too much of the good.
Explanation: The Scenario displayed here is a Monopolistic Market operated by the pay per view television programs E.g Multichoice
Answer:
It is important for a manager/decision maker to have a good understanding of both of these approaches, because it is more beneficial if the manager/decision maker can combine the two approaches to the situation.
Explanation:
Answer:
C)capitalist
Explanation:
Market economies and mixed economies can be described as capitalist economies. In capitalist economies, private individuals and firms own the factors of production or capital goods. The private sector produces goods and services consumed in the economy. The motive for producing the goods is the private sector's self-interest or profits.
The free enterprise market is the purest form of a capitalist economy. Capitalist economies contrast with socialists economies where ownership of capital goods is in the government's hands.
Answer:
$53, 700
Explanation:
The question is not complete:
The completion is here:
6000 Units were produced and determine the total amount of direct manufacturing cost incurred.
Step 1: Calculate the Direct Manufacturing Cost
Direct manufacturing cost is the cost of those input raw materials that are directly related to the product as well as the units being produced.
Direct Manufacturing Cost = (The Direct Material/ Unit + The Direct Labour/ unit) x Units Produced
= ($5,20 + $3.75) x 6000 units
= $8.95 x 6000 units
= $53, 700
Therefore, the direct manufacturing cost is $53, 700
Answer:
The answer is significantly.
Explanation:
Oligopoly is a market situation in which there are few sellers, selling similar goods and services and many buyers. The barriers to entry in this market in high. Example of a oligopoly market is OPEC.
The competition amongst the few sellers is high because they are selling the same thing and a change in price by one firm will significantly affect other firms in the industry. For example, if a firm reduces the price of its goods, this creates a price war and other firms to start reducing their price to match the lower price. And if another firm increases its price, consumers will switch to competitors
