Final answer:
To find the average nominal wage in manufacturing in 1990, calculate the inflation-adjusted wage using the CPI. The average nominal wage in manufacturing in 1990 was approximately $35.
Explanation:
To find the average nominal wage in manufacturing in 1990, we need to calculate the inflation-adjusted wage using the Consumer Price Index (CPI). First, we can calculate the inflation rate by dividing the CPI in 2000 (1.69) by the CPI in 1990 (1.30). This gives us an inflation rate of approximately 1.3 (1.69 / 1.30).
Next, we can calculate the real wage in 2000 by multiplying the average nominal wage in 2000 ($35) by the inflation rate (1.3). This gives us a real wage of approximately $45.5 (35 * 1.3).
Finally, to find the average nominal wage in 1990, we need to adjust the real wage in 2000 for inflation. We divide the real wage in 2000 ($45.5) by the inflation rate (1.3). This gives us an average nominal wage in 1990 of approximately $35 (45.5 / 1.3).
What is meant by supply-side economics?
A. Supply-side economics refers to the use of taxes to increase incentives to work, save, invest, and start a business in order to decrease long-run aggregate supply.
B. Supply-side economics refers to the use of taxes to increase incentives to work, save, invest, and start a business in order to increase long-run aggregate supply.
C. Supply-side economics refers to the use of taxes to increase incentives to work, save, invest, and start a business in order to increase short-run aggregate supply.
D. Supply-side economics refers to the use of taxes to decrease incentives to work, save, invest, and start a business in order to increase long-run aggregate supply.
Answer:
The correct answer is option B.
Explanation:
Supply-side economics refers to the use of taxes to stimulate the economy. It involves reducing taxes to promote the incentive of working, saving and investing. This leads to an increase in the long-run aggregate supply.
The supply-side fiscal policy provides incentives to businesses to expand their operations.
Supply-side economics advocates that production leads to economic growth.
Destin Corp is comparing three different capital structures. Plan A would result in 10,000 shares of stock and $90,000 in debt. Plan B would result in 7,600 shares of stock and $198,000 in debt. The all equity plan would result in 12,000 shares of stock outstanding. The interest rate on debt is 10%, and the EBIT is $48,000. If Destin Corp has a tax rate of 40%, which of the three plans has the highest EPS?
Answer:
All equity plan (12,000 shares with an EPS of $2.40)
Explanation:
Plan A (10,000 shares):
interest = $90,000 x 10% = $9,000
net income = (ebit - interest) x (1 - 40%) = ($48,000 - $9,000) x 60% = $23,400
earnings per share (EPS) = $23,400 / 10,000 shares = $2.34 per share
Plan B (7,600 shares):
interest = $198,000 x 10% = $19,800
net income = (ebit - interest) x (1 - 40%) = ($48,000 - $19,800) x 60% = $16,920
earnings per share (EPS) = $16,920 / 7,600 shares = $2.23 per share
All equity plan (12,000 shares):
net income = ebit x (1 - 40%) = $48,000 x 60% = $28,800
earnings per share (EPS) = $28,800 / 12,000 shares = $2.40 per share
In the market for bank credit a large bank sometimes announces a change in interest rates. After the changes in interest rates are announced, other banks in the industry usually react by changing their rates in the same way. This is an example of__________.
A. a cartel.
B. monopolistic competition.
C. implicit collusion.
D. the kinked demand curve model
Answer:
C) implicit collusion
Explanation:
Implicit collusion refers to a situation where competitor firms act in the same manner to try to control the market (price, supply or demand) of a good or service. Supposedly since the firms compete against each other, so they will try to make the customers believe that the similarities are coincidences or that the actions were caused by some external market force.
For example, Coke increases it price and by coincidence Pepsi also increases its price.
Ziegler Corporation purchased 25,000 shares of common stock of the Sherman Corporation for $40 per share on January 2, 2014. Sherman Corporation had 100,000 shares of common stock outstanding during 2015, paid cash dividends of $90,000 during 2015, and reported net income of $300,000 for 2015. Ziegler Corporation should report revenue from investment for 2015 in the amount of:
Answer:
Ziegler Corporation should report revenue from investment for 2015 in the amount of $75,000
Explanation:
given data
purchased = 25,000 shares
common stock = $40 per share
common stock outstanding = 100,000 shares
paid cash dividends = $90,000
net income = $300,000
to find out
revenue from investment for 2015 in the amount of
solution
we first get here Investment in Sherman Corporation that is
Investment = purchased ÷ common stock outstanding ..........................1
put here value
Investment = [tex]\frac{25,000}{100000}[/tex]
Investment = 25%
so that income from investment will be here we get
income from investment = 25% of net income ........................2
put here value
income from investment = 25% × $300,000
income from investment = 0.25 × $300,000
income from investment = $75,000
so Ziegler Corporation should report revenue from investment for 2015 in the amount of $75,000
Final answer:
Ziegler Corporation should report $22,500 as revenue from investment for 2015, which represents a 25% share of the $90,000 dividends paid out by Sherman Corporation.
Explanation:
To determine the revenue from investment that Ziegler Corporation should report for 2015 from its investment in Sherman Corporation, we need to calculate the share of Sherman Corporation's dividends that Ziegler is entitled to. Since Ziegler owns 25,000 out of the 100,000 shares outstanding of Sherman, it has a 25% ownership stake. Therefore, Ziegler would be entitled to 25% of the total dividends paid by Sherman in 2015.
Sherman Corporation paid out $90,000 in dividends in 2015. To find out how much of that Ziegler Corporation would receive, we multiply the total dividends by Ziegler's ownership percentage:
Total Dividends x Ownership Stake = Revenue from Investment
$90,000 x 25% = $22,500
Thus, Ziegler Corporation should report $22,500 as revenue from investment for the year 2015.
The notion that there is a tradeoff between inflation and unemployment is expressed as a
Answer:
Phillips curve
Explanation:
The notion that there is a trade-off between inflation and unemployment is expressed by a Phillips curve.
Phillip curve states that there is a negative relationship between inflation and unemployment.
n an oligopoly market, collusion between firms usually leads to higher profits than does noncooperative behavior. Howeve r, formal, overt collusion doesn't usually occur in the United States because: I. it is illegal. II. there is an incentive for each firm to cheat on a collusive agreement. III. an oligopolistic firm will typically prefer lower profits for itself if the onl y way to make higher collective profits in the industry is to improve the profit position of its rivals
Oligopoly is a form of firm syndicate that consist of traders that has same product and try to gain more profit by collaborating to each other.
Further Explanation:There are couple of types of market
Perfect competitionOligopolyMonopoly Learn more What is perfect competition : https://brainly.com/question/3936953Answer: it is illegal in the United state.
Explanation:
Collusion is an anticompetitive behaviour and is a violation of antitrust law in United States.
The coding manager at University Hospital has been employed for approximately 15 years in the same role. He is trying to apply AHIMA's strategic plan to his role in the organization. He realizes that HIM professionals need to be recognized as the experts in health information governance and should share the knowledge with others in their healthcare organization. The strategic goal that he is addressing here is ____________.
Answer: Information governance
Explanation:
Here , in this particular case we can state that the strategic goal of the organization that the individual is addressing in this scenario is Information governance. Here the organization uses the Information governance in order to stabilize the risk presented by the data and information along with value provided by it.
Blue Ridge Bank has a PM of 12 percent, an interest income to total assets ratio of 6.00 percent, and a noninterest income to assets ratio of 1.50 percent. Blue Ridge also has $9 in assets per dollar in equity capital. Blue Ridge's ROE is:
Answer:
8.10%
Explanation:
Blue Ridge's return on equity (ROE) is how much profit does Blue Ridge's investors earn for every dollar they invested in the company.
The formula used to calculate ROE is:
ROE = PM x (total assets ratio + noninterest income) x (Assets per dollar in equity capital)
ROE = 12% x (6% + 1.5%) x $9 = 8.10%
Blue Ridge's ROE is 8.1%
Blue Ridge's return on equity (ROE) is how much profit Blue Ridge's investors earn for every dollar they invest in the company.
To find the Return on Equity (ROE) for Blue Ridge Bank, we can use the following formula:
The formula used to calculate ROE is:
ROE = PM x (total assets ratio + noninterest income) x (Assets per dollar in equity capital)
Substituting the values -
ROE = 12% x (6% + 1.5%) x $9
= 8.10%
Employees and customers are treated like a family at State Street Coffee House. Jason and Jill, the owners, work to encourage unity to increase their employees' job satisfaction and commitment. At their coffee house, Jason and Jill have built a(n)
a)market culture
b)goal-driven agenda
c)bureaucracy culture
d)clan culture
e)adhocracy culture
Answer: (D) Clan culture
Explanation:
The clan culture is one of the type of friendly type corporate environment in an organization and it is also known as collaborative culture. Clan culture is one of the element of corporate clan culture model.
There are many types of advantage of clan culture in an organization are as follows:
Clear communication Increase in company productivityIncrease in organization growthAccording to the question, Jason and the Jill are the owner of the company an they always encourage and also motivate their employees. They also try to increase the job satisfaction among the employees and they try to built the clan culture in the company.
Therefore, Option (D) is correct.
Days' sales in receivables a.is an estimate of the length of time the receivables have been outstanding. b.measures the number of times the receivables turn over each year. c.is calculated as Average Receivables/Sales. d.is not used.
Answer:
The answer is a. is an estimate of the length of time the receivables have been outstanding.
Explanation:
Days' sales in receivable is calculated as Average sales receivable / total credit sales in the period x number of the in the period.
The ratio is used to measure how long (in days) it takes for a firm to collect its sales receivable based on its past collection performance.
Thus, a is chosen.
The definition in b is referred to Receivable Turnover, thus it is not chosen.
For c. The formula given is wrong, thus it is not chosen.
Days' sales in receivables is a financial metric that helps companies estimate the efficiency of their credit and collection procedures. It can be understood as the length of time the receivables have been outstanding and is calculated as Average Receivables / Sales.
Explanation:Days' sales in receivables is a financial ratio that is used to estimate the average number of days that it takes for a company to collect payment after a sale has been made. It is an indicator of how effective the company's credit policies and collection procedures are.
In practical terms, it's calculated using the following formula: (Average Receivables / Net Credit Sales) x 365. This means a lower ratio is generally more favorable, as it indicates that the company takes less time to collect its receivables. Higher ratios can signify potential issues with cash flow or potential difficulties in getting paid by customers.
Therefore, the Days' sales in receivables can be seen as both an estimate of the length of time the receivables have been outstanding (option A), and a measure of the number of times the receivables turn over each year (option B). It's also calculated as Average Receivables/Sales (option C), and it is definitely used in financial analysis (option D is incorrect).
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The following data is available for Metlock, Inc. at December 31, 2020: Common stock, par $10 (authorized 26000 shares) $234000 Treasury stock (at cost $15 per share) $1200 Based on the data, how many shares of common stock are outstanding?
Answer:
23,400 shares
Explanation:
The total number of authorized shares is 26,000, but that doesn't mean that all these shares have been issued or are outstanding. The total number of shares issued = shares outstanding + treasury stock.
Since the shares must be recorded at par value in the common stock account, we need to divide the total value of the account by the par value of each share = $234,000 / $10 = 23,400 shares
A share of Citigroup stock represents:a.An IOU, or promise to pay, from Citigroup b.A right to require that Citigroup pays all profits as dividendsc.A risk-free investment vehicle in the long rund.A claim on Citigroup's assets that gives the purchaser a share of the corporationNow, compare one share of Citigroup's stock with one of its bonds. A share of Citigroup stock will be risky than a bond issued by Citigroup.
A share of Citigroup stock represents ownership in the firm, with returns potentially earned through dividends and capital gains. Stocks are riskier than bonds as they directly reflect the company's performance, offering both higher rewards and greater risks. Bonds provide a fixed return, making them more stable but with less profit potential.
Explanation:A share of Citigroup stock represents firm ownership. When individuals purchase stock, they become part-owners, or shareholders, of the corporation. Owning 100% of a company's stock equates to owning the entire company, but in large firms like Citigroup, no single shareholder typically has a majority stake. Instead, ownership is spread across many shareholders, each holding a proportionally small part of the company. Stocks are a way for firms to raise financial capital and can lead to returns through dividends and capital gains.
Comparing Citigroup's stock with its bonds, a share of stock is generally riskier than a bond issued by the company. Stockholders benefit when the company performs well but also bear the losses if the company's value decreases. In contrast, bondholders receive a fixed interest payment regardless of the company's performance, making bonds a more stable investment. However, bondholders have less potential for profit compared to stockholders, who may benefit from rising stock prices in addition to receiving dividends.
Which of the following quotations illustrates the Tragedy of the Commons?
a. "A bird in the hand is worth two in the bush."
b. "The only difference between the rich and other people is that the rich have more money."
c. "What is common to many is taken least care of, for all men have greater regard for what is their own than for what they possess in common with others."
d. "Anyone who is not a socialist before he is 30 has no heart; anyone who is still a socialist after he is 30 has no head."
Answer:
The correct answer is option c.
Explanation:
The tragedy of the commons is an economic problem in which individuals' rational decisions lead to collective irrationality. The individual consumers want to maximize their satisfaction so they consume a common resource in the way to maximize utility or satisfaction. But collective consumption in this manner leads to overconsumption of resources.
Individuals take better care of the resources they privately own than the common resources. Individuals focus on their wellbeing instead of the collective welfare of society and ignore social welfare in the process of maximizing their personal welfare.
Q 11.27: What is the return on common stockholders’ equity based on the following: Beginning Common Stockholders’ Equity: $10,317,000 Ending Common Stockholders’ Equity: $10,662,000 Net Income: $1,429,000 Preferred Stock throughout the year: 6%, $75 par (8,000 shares authorized, issued, and outstanding). A :
Answer:
13.3%
Explanation:
Given: Beginning Common Stockholders’ Equity: $10,317,000.
Ending Common Stockholders’ Equity: $10,662,000.
Net Income: $1,429,000
Preferred stock: 8000 shares 6% at $75.
First, let calculate average common stockholder equity.
Average common stockholder equity= [tex]\frac{(Beginning\ equity+ending\ equity)}{2}[/tex]
⇒ Average common stockholder equity= [tex]\frac{(10317000+10662000)}{2} = \frac{20979000}{2}[/tex]
∴ Average common stockholder equity= $10489500.
Now, calculating preferred dividend.
⇒ Preferred dividend= [tex](8000 shares\times \$ 75\times 6\%) = \$ 36000[/tex]
∴ Preferred dividend= $36000.
Next, computing return on common shareholder equity.
Return on equity= [tex]\frac{(Net\ income - preferred\ dividend)}{ Average\ shareholder\ equity}[/tex]
Return on equity= [tex]\frac{(1429000-36000)}{10489500} = \frac{1393000}{10489500}\times 100[/tex]
∴ Return on equity= 13.3%
∴ Return on common stockholders´ equity is 13.3%
In the context of the service encounter triad, the trade-off between the service organization and contact personnel is one of: a. perceived control b. efficiency versus autonomy c. efficiency versus satisfaction d. autonomy versus satisfaction e. autonomy versus perceived control
Answer:
B) efficiency versus autonomy
Explanation:
The three parties that make up the service encounter triad are: the organization that provides the service, contact personnel (which are part of the organization) and the customers. For example, in a service encounter that tales place in a movie theater; a contact person (e.g. sales clerk) provides a service (e.g. movie ticket) to a customer.
A lot of physical vendors or clerks are being replaced by automated customer service machines that are cheaper for the company but have limited autonomy. For example, in movie theaters you can get your tickets from a machine, so unless you also buy a soda or candy, you don't need to interact with the sales clerk.
Customers who owned Nintendo’s 8-bit video game console were unable to play the same games on the firm’s new 16-bit Super Nintendo system. There was little incentive for existing Nintendo fans to stick with the firm. In this case, Nintendo’s new offering suffered from a lack of:_____A) switching costsB) backward compatibilityC) staying power
Answer:
I would choose B. But im not 100% sure.
Explanation:
Answer:
c) Staying power
Safety is a key concern at most industries, but it is especially important at BigBoom Fireworks Factory. Employees must use carefully standardized procedures for packing fireworks to prevent unwanted explosions. This is what type of control method?
a.) self-control
b.) normative control
c.) bureaucratic control
d.) concertive control
Answer: Bureaucratic control
Explanation: Bureaucratic control is a method of controlling employees behavior in an organization by setting laid down rules and operational behaviors to be observed by the workers of the firm.
The organization in the question set some standardized safety rules to be followed by its workers, therefore the control measure applied is bureaucratic.
Final answer:
At BigBoom Fireworks Factory, the method of control that involves standardized procedures to ensure safety would be C. bureaucratic control, which is characterized by strict formal rules and processes.
Explanation:
The type of control method used at BigBoom Fireworks Factory where employees must use carefully standardized procedures for packing fireworks to prevent unwanted explosions is bureaucratic control. Bureaucratic control is characterized by the establishment of strong formal rules and procedures that are put in place to ensure consistency, safety, and efficiency within an organization.
This differs from the other types of control methods in that it involves the use of standardized regulations and a hierarchy of authority to manage and control behavior. Such measures are often part of command-and-control regulation, which includes government-imposed standards or processes that are required for industry compliance.
All of the following criteria serve as a valid basis for identifying potential projects in most organizations EXCEPT:
a. technological advance
b. environmental consideration
c. social need
d. internal politics
Answer:
d. internal politics
Explanation:
Considering all the options given
Option a technological advance is a valid basis for identifying potential projects in most organizations as it may be the key driver for the profitability of a project. An investment in a technology that becomes or is obsolete would most likely result in a loss.
Option b environmental consideration is also a valid basis for identifying potential projects as a company's reputation may be jeopardized if a project is not environmentally friendly
Option c social need is also a valid consideration as the need of the consumer may determine the viability of a project.
Internal politics option d is is the only option that does not influence the viability of a project.
One difference between B2C and B2B e-commerce is that the: a. B2B transaction involves little or no negotiation. b. B2C transaction involves customers with larger amounts of money to spend at one time. c. B2C transaction typically involves extensive and careful research while the B2B transaction tends to be less rational. d. B2C transaction tends to be smaller when compared to B2B.
Answer:
(d). B2C transaction tends to be smaller when compared to B2B.
Explanation:
(B2B) business-to-business is shorthand for “business to business.” It refers to sales you make to other businesses rather than to individual consumers. Sales to consumers are referred to as “business-to-consumer” sales or B2C.
(B2C) business-to-consumer refers to the process of selling products and services directly between consumers who are the end-users of its products or services. Most companies that sell directly to consumers can be referred to as B2C companies
According to the University of Michigan studies, leaders who are production oriented are described as emphasizing interpersonal relationships and as taking a personal interest in the needs of their followers. True or false?
Answer:
False
Explanation:
Leaders who are production oriented have their focus on getting a task done and getting result, not bothered on employees' welfare and what challenges may arise. They do not emphasize interpersonal relationship and no interest in the needs of their followers.
Controllable costs for responsibility accounting purposes are those costs that are directly influenced by which of the following?
A) production volume
B) a given manager within a given period of time
C) sales volume
D) a change in activity
Answer:
The correct answer is B
Explanation:
Controllable cost is the one which can be altered or changed in the short term and it is considered to be controllable when the decision incur it reside with the person. But if the cost is imposed by the third party on the organization, will not be considered as the controllable cost.
So, it is that cost which is directly influenced by the manager within a stated period of time.
What circumstances does a person need to prove to have their student loans discharged through bankruptcy?
Final answer:
To discharge student loans through bankruptcy, one must prove undue hardship, which includes an inability to maintain a minimal standard of living, a persistent state of financial struggle, and efforts to repay the loans.
Explanation:
To have student loans discharged through bankruptcy, a person must demonstrate 'undue hardship.' This is a difficult standard to meet, as it usually requires proving that the individual cannot maintain a minimal standard of living if forced to repay the loans, that this hardship would continue for a significant portion of the repayment period, and that the debtor has made good faith efforts to repay the loans.
Filing for bankruptcy usually involves a bankruptcy court determining whether the loans cause undue hardship through an adversary proceeding. This process is often complex, and the outcomes can vary widely depending on jurisdiction and the specific circumstances of the debtor. Considering other financial aid options like scholarships, grants, or a work-study program prior to borrowing, as well as familiarizing oneself with the Free Application for Federal Student Aid (FAFSA), can be beneficial in managing postsecondary education costs and potentially reducing the need for large student loans.
Baby boomers are less likely to associate retirement with "the beginning of the end" and see it instead as a new chapter in their lives with new activities, interests, careers, or even relationships.
a.True.
b.False.
Answer: True
Explanation:
Baby boomers are known as demographic companion of the Silent Generation and also preceding the Generation X. This generation is mostly described as the individuals that are born in between the years 1946 and 1964. These individuals are known to be least likely to be associated with the inclination of term retirement with phrases such as "beginning of an end".
An organization takes active countermeasures to protect its systems, such as installing firewalls. This approach is known as ________. A. risk acceptance B. risk transference C. risk elimination D. risk reduction E. risk rescheduling
Answer:
D. risk reduction
Explanation:
Risk reduction is a hazard management technique that aims at minimizing potential losses. In risk reduction, a company evaluate its business process to identify possible threat areas. The company then implements measures that will mitigate losses should the risk event occur.
Risk reduction lessens the impact of known hazards. This particular organization has identified potential risks associated with internet usage. It is vulnerable to online attacks either by hackers or malicious software program. By installing firewalls, the organization reduces potential losses related to online attacks.
In the first stage of the negotiation, Alisa explicitly expressed her surprise, frustration, and dissatisfaction that executives were receiving large bonuses when Katherine had said there was no money for salary increases.This behavior may be considered unprofessional by many people, but it is indeed a useful negotiation tactic. What type of tactic was she using?
a.Information exploitation
b.Clarifying interests
c.Showing emotions
d.Strengthening one's own position
e.Perfecting the deal
Answer:
c.Showing emotions
Explanation:
In this case, Alisa could not control her emotions at this situation which she feels is unfair and expressed the same as well.
Therefore, we can conclude that she was showing emotions.
A competitive capital market is important to society because it directs resources toward projects that
Answer:
create wealth
Explanation:
create wealth
In market A, a 4% increase in price reduces quantity demanded by 2%, so demand in market A is _____. In market B, a 3% increase in price reduces quantity demanded by 4%, so demand in market B is _____.
Answer:
Demand in market A is inelastic. Demand in market B is elastic.
Explanation:
Price elasticity of demand is the measure of the change in quantity demanded in relation to the change in price.
Elasticity = % change in quantity demanded / % change in price
When Elasticity < 1 (2% divided by 4%), demand is said to be inelastic: (quantity demanded changes less as price changes)
When Elasticity > 1 (4% divided by 3%), demand is said to be elastic: (quantity demanded changes more as price changes)
A(n) _____ broadly defines an organization's purpose—what it is seeking to achieve from its activities—identifies what is unique or important about its products to its employees and customers, and also distinguishes or differentiates the organization in some ways from its competitors.
А. businessplan
B.mission statementC.SWOTanalysis
D.general advertisement
E.strategic plan
Answer:
(B) mission statement
Explanation:
A mission statement broadly defines an organization's purpose—what it is seeking to achieve from its activities—identifies what is unique or important about its products to its employees and customers, and also distinguishes or differentiates the organization in some ways from its competitors.
Check Cashing Business. Susan owns and operates a check cashing business. A customer, Bob, claiming to be Sam, came in and cashed a $2,000 check issued by ABC Trucking to Sam. The day after Susan cashed the check, she received a notice from ABC Trucking that some checks had been stolen. It was later discovered that the customer had forged Sam's name on the check issued by ABC Trucking. At the time she took the ABC Trucking check, Susan was very busy with several customers in line. She simply glanced at the check and cashed it. A reasonable examination would have revealed that the check had been materially altered and changed from the amount of $200 to $2,000. Susan decided that she needed to hire some people to help her because she also had a problem with another check. On the same day that she took the ABC Trucking check, she took a check from another customer, Maurice. It was later discovered that the check from Maurice, which was four months old, was the subject of a dispute between Maurice and the issuer of the check for whom Maurice had done some work. The issuer claimed that the work was improperly done. Both ABC Trucking and the issuer of the check to Maurice stopped payment on the checks. Susan claims that she was entitled to the status of a holder in due course and was entitled to payment on both checks. What is the effect of Susan receiving notice the day after she cashed the check for Bob that the check had been stolen?
Answer:
Since the check was altered (it was originally a $200 check and was altered to seem like a $2,000 check), then Susan cannot be considered a holder in due course.
A holder in due course of a check would be a person that receives a third party check in good faith without knowing any possible claim or defect.
If the check had been stolen and wasn't altered to change its value, then Susan could have claimed to be a holder in due course of the check since she was notified later about the theft.
If competitive market circumstances are such that there is some leader-follower price competition, some product differentiation, and the purpose of advertising is to inform, but avoid price competition, then we must be operating in a(n):
Answer:
Oligipoly
Explanation:
Oligopoly market is characterised by:
1. Few large firms
2. Firms set their prices together which is known as a cartel or through price leadership where a firm sets the market price.
3. Firms engage in advertisement.
4. Firms avoid price competition.
An example of an oligopoly is OPEC. OPEC is a cartel.