Answer:
Gross premium = $100
Monthly Net premium = $70
Therefore 70 x 12 x 3 = 2,520
= 20% of 2, 520
2,520/100 x 20/1
GMP (Gross Monthly Premium) = $540
Answer:
D. Earn short run economic profits
Explanation:
A cartel can be defined as a formal agreement reached (collusion) in an oligopolistic industry between two or more business firms that are saddled with the responsibility of producing goods and services in order to make price and output decisions such as price regulation, total level of output or supply, allocation of customers, market shares, territory allocation, division of profits, collusive bidding etc.
This ultimately implies that, when a group of independent firms in an oligopolistic industry collude by reaching a formal agreement to regulate supply, as well as manipulate or regulate prices, they do so to increase their profits and market dominance.
Hence, firms colluding earn short run economic profits.
Weekly payday frequency provides employees with the smoothest cash flow.
Many employees think that being paid weekly is the best way to be paid as it alleviates the whole process of waiting to be paid.
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<h3> Characteristics of Successful Entrepreneurs</h3>
- Curiosity. Successful entrepreneurs have a sense of curiosity that allows them to continuously seek new opportunities.
- Structured Experimentation. ...
- Adaptability. ...
- Decisiveness. ...
- Team Building. ...
- Risk Tolerance. ...
- Comfortable with Failure. ...
- Persistence.