Answer:
The answer is Monopoly
Explanation:
Monopoly describes the situation which supply of a service or commodity is controlled by a specific enterprise or person. The situation gives rise to what is known as a mopolisitic market structure.
A monopolistic market, like the term implies, describes a market that is dominated by just one company. In other words, it is just a single company that offers services and products to the public.
Being the only supplier, the company can raise prices, restrict output and enjoy super-normal profits.
Before the times of the labor unions, both the employer and the employee reserved the right of employment at will, meaning either one could terminate the agreement at any time and for any reason.
The correct term for the situation proposed in the question is employment at will. The other options describe agreements that have arisen since the creation of the labor unions.
The first option, a closed shop, described an agreement made between the hiring party and the labor unions in which the hiring party agrees to <u>only hire members of the union</u>, while an open shop is just the opposite.
Collective bargaining, on the other hand, is the long process in which the workers of an institution work through their labor unions in order to <u>negotiate contracts </u><u>and the terms of </u><u>employment</u><u>, which include income and benefits. </u>
Therefore the only option that existed prior to the development of labor unions is employment at will, which allowed the termination of a contract at any time for any reason.
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Answer:
Option C - each seller supplies a negligible fraction of total supply.
Explanation:
Price is constant to the individual firm selling in a purely competitive market because each seller supplies a negligible fraction of total supply.
FCF is a measure of
how much cash a business generates from operations, net of capital expenditures,
which it can use for various purposes, such as reducing debt or paying out
dividends. When calculating FCF, we take Cash provided by operating activities
and subtract any capital expenditures. Grossman Lumber generated $102,000 in
cash from operations, and invested 4,000 in capital expenditures, so its FCF is
102,000-4,000= $98,000. We are not concerned with dividends because dividends
are not a capital expenditure.
