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Illusion [34]
3 years ago
9

Monopolies are inefficient compared to perfectly competitive firms because monopolies produce output with average total cost exc

eeding average revenue produce output with average total cost exceeding average revenue A produce more output than is social desirable produce more output than is social desirable B charge a price less than marginal revenue charge a price less than marginal revenue C charge a price greater than marginal cost charge a price greater than marginal cost D charge a price less than average total cost
Business
1 answer:
DanielleElmas [232]3 years ago
7 0

Answer:

C. charge a price greater than marginal cost charge a price greater than marginal cost

Explanation:

  • A monopoly exists when the person or the enterprise is the sole provider of the goods and commodities. The supplies have complete control of the market as they form a single entity.
  • They are thus characterized by a lack of economic competition. Due to they are monopolies they change higher prices on the outputs rather than the average revenue. Hence are called price setters.
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Ten years ago, Ginny inherited $50,000 from her grandmother. She decided to invest all of this money in GE stock. Suppose she de
leva [86]

Answer:

$14,500

Explanation:

The size of Ginny's taxable capital gain = $64,500 - $50,000 = $14,500

Note: Capital gains tax is a tax on the profit realized on the sale of a non-inventory asset.

8 0
3 years ago
When the price of a good or service is _________enough, it will encourage consumers to buy. However, the price also has to be __
asambeis [7]

Answer:

The correct words for the blank spaces are (<em>in that order</em>): low; high; opportunity; reservation.

Explanation:

For buyers and sellers to benefit from a transaction, the price of the goods or services offered must be at equilibrium. It implies the price is low enough for consumers to consider purchasing the product and high enough for producers to offer it earning a profit.

Besides, producers should consider their opportunity costs which are the costs of adding one more unit for production. On the other side of the road, consumers consumer their reservation price which is the maximum amount of money they could pay for a good or service based on the value they give to the product.

4 0
3 years ago
You would like to borrow money three years from now to build a new building. In preparation for applying for that loan, you are
zysi [14]

Answer:

Option "D" is the correct answer to the following statement.

Explanation:

The cash coverage ratio helps find the available cash in hand or cash at the bank to pay for the expenditure of a loan. The ratio must be considerably higher to 1: 1, it shows our potential to pay interest. In this situation Option "D" has the highest Cash coverage ratio.

The debt-equity ratio is used to find the firm's credibility.

5 0
3 years ago
Imagine a linear demand curve graphed with Quantity on the x-axis and Price on the y-axis. We know the middle of the curve is th
Murrr4er [49]

Answer:

A. That's the point where total revenue is maximized

Explanation:

Demand Curve is a downward sloping curve representing inverse  relationship between price & quantity demanded.

Elasticity of Demand is the responsiveness of quantity demanded to price change. It can be measured geometrically on a demand curve point by :

Demand curve segment below the point / Demand curve segment above the point.

This way the elasticity keeps on decreasing as we move downwards on the demand curve [Ed=∞ to Ed >1 to Ed = 1 to Ed < 1 to Ed = 0] i.e [from perfectly elastic to elastic to unitary elastic to inelastic to perfectly inelastic demand].

If Demand is Elastic [Ed >1] : There is negative relationship between price and Total Revenue. This point is on the upper segment of demand curve as per geometric method, P- TR negative relationship implies that TR can be increased by decreasing Price.

If Demand is Inelastic [Ed <1] : There is positive relationship between price &total revenue. This point is on the lower segment of demand curve as per geometric method, P-TR positive relationship implies that TR can be increased by increasing price.

So: The best Total Revenue Maximising point is on the middle of demand curve where demand is unitary elastic [Ed=1] - as any other deviation from this point would create an incentive to change price to generate higher revenue.

3 0
3 years ago
3–1. Liability to Business Invitees. Kim went to Ling’s Market to pick up a few items for dinner. It was a stormy day, and the w
Natalija [7]

Answer: yes

Explanation: although the manager was aware of the weather condition, his negligence hampered him from posting a sign to caution incoming customers. This negligence had incurred a damage to his account and he is liable to compensate Kim for negligence

8 0
3 years ago
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