In a monopolistic competitive industry, firms can try to differentiate their products by

Business

1 answer:

grigory [225]2 years ago

7 0

in a monopolistic competitive industry, firms can try to differentiate their products by:

<u>Branding and Advertising</u>

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A monopolistic industry is one that has very little competition from other brands and as such they dominate a particular market.

As a result of this, we can see that a monopolistic industry would have different products which they sell to the public and the best and easiest way to differentiate between them is to make use of branding and advertising.

Therefore, the correct answer is Branding and Advertising.

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1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?

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1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?

The chart probably refers to interest per $100 of loan. So, the interest for a $1,230 loan would be (1230/100) * 18.75 = 230.625 ~ 230.63
So, the answer will be B $230.63.

2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest?
3,200 / 100 = 32 ... x 19.5 = 624
Principal x int rate x time = 3200 x .13 x 1.5 yr = 624 interest

So, the answer will be the A $624.

3. What is the total amount that Sherri (in question number 2) will repay?

The correct answer will be the $3,824.

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