Compared to perfect competition, a monopoly will produce ________ output, and charge a ________ price. more; lower more; higher less; higher less; lower
A monopoly will generate less output and raise prices in comparison to perfect competition.
What is a monopoly?A market arrangement in which there is just one seller and only one type of goods available. As the only vendor of the goods with no viable alternatives, the seller in a monopoly market has no rivals.
The definition of perfect competition is when all the sellers on a market are selling the same thing and the market has no control over the inflated prices. The price that is set is independent of the buyers and sellers. When only one business sells a product and has complete control over its supply, this situation is known as a monopoly.
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An american executive of a multinational home-furnishings chain finds that one of the company's production units in philippines employs children to work in its factories. however, most of the children employed at the factory are orphans who will be sold as forced labor or pushed into prostitution, if they lose their jobs. the executive finds that all the available alternatives seem ethically unacceptable. in this example, the american executive faces the free-rider problem. an ethical dilemma. a veil of ignorance. the tragedy of the commons.
Final answer:
The executive is facing an ethical dilemma regarding child labor in the Philippines. A nuanced understanding of the ethical context, local culture, and potential consequences must inform their decision-making process, with consideration given to unconventional solutions.
Explanation:
The situation presented involves an American executive facing a situation where a production unit in the Philippines employs children, who are orphans and might face worse circumstances if they lose their jobs. This scenario represents an ethical dilemma, as there are no clearly acceptable alternatives and each option carries significant moral consequences. It's not a free-rider problem, a veil of ignorance, or the tragedy of the commons, as those entail different societal and economic challenges.
In such complex cases, a company must consider the ethical context and local culture. Drawing from the experiences of Levi-Strauss & Company and the example of Ahmed Zia from Pakistan, it's important to recognize that blanket ethical standards may not be applicable across all cultures and situations. Creative solutions, like Levi-Strauss's education agreement, may be necessary to address these issues without worsening the children's conditions.
You'll always be a step ahead of your competition if you simply think about your company.
a. True
b. False
When the floor rusted through on her old car, kelly knew she had a problem. logically, kelly's next step in the consumer decision process would be to identify her need. search for information about cars. evaluate alternatives. purchase a new car. assess her satisfaction with the car she purchased?
_______ are regulatory agencies, such as the sec (securities and exchange commission), that establish ground rules under which organizations may operate
In a free competitive market what is the rationing mechanism
The rationing mechanism in a free competitive market is determined by the forces of supply and demand, with price acting as a signal for consumers and producers. It helps to allocate resources efficiently and ration goods based on consumer preferences and resource availability.
Explanation:Rationing Mechanism in a Free Competitive MarketIn a free competitive market, the rationing mechanism is determined by the forces of supply and demand. When there is excess demand for a certain good or service, the price of that item will increase, which acts as a signal for consumers to consume less and for producers to increase supply. This price mechanism helps to allocate resources efficiently and ration goods and services based on consumer preferences and resource availability.
For example, let's say there is a shortage of a particular smartphone model in the market. This shortage creates excess demand, causing the price of the smartphone to increase. As the price increases, some consumers may decide not to purchase the smartphone due to its higher cost, while producers may be incentivized to increase their production to take advantage of the higher price. This process helps in rationing the limited supply of smartphones among consumers.
Key Takeaways:In a free competitive market, the rationing mechanism is determined by the forces of supply and demand.Price acts as a signal for consumers to consume less and for producers to increase supply.The price mechanism helps allocate resources efficiently and ration goods based on consumer preferences and resource availability.Learn more about Rationing mechanism in a free competitive market here:https://brainly.com/question/11864016
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In a free competitive market, the rationing mechanism is the market price system. Alterations in pricing based on supply and demand guide the decisions made by consumers and producers, leading to resources being allocated efficiently. The issue arises when these price systems are controlled, it can cause misallocation.
Explanation:In a free competitive market, the rationing mechanism is the market price system. This system provides a highly efficient mechanism for disseminating information about relative scarcities of goods, services, labor, and financial capital. When prices change due to supply and demand variations, market participants are required to revisit their previous decisions. If the quantity of a product demanded is less than the supply, prices fall, and if the demand is higher than the supply, prices rise. This guides the decisions made by consumers and producers alike, ensuring that resources are allocated to their most efficient uses. For instance, if a specific product's price rises, consumers might start looking at alternatives or reducing their usage, while producers might ramp up production to benefit from the increased market price. However, this also highlights the issues with price controls which can hide information about true scarcity and cause a misallocation of resources. These mechanisms do not operate when dealing with a natural monopoly, where competition is unlikely to be rooted.
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your boss has asked you to deliver a project sooner than expected. An appropriate response would be:
Answer:
Explanation:
Yes sir/ma'am
In a multi-level support model, external vendors are typically ____.
When a firm provides a specialized product or service for a narrow target market better than competitors, they are using a ___ strategy?
During 2008, the inflation rate increased and the unemployment rate increased. these events ______.
Prepare an amortization schedule for a three-year loan of $63,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?
Answer:
1. $104.854
2. $274.854
Determine whether the study depicts an observational study or an experiment. a scientist was studying the effects of a new fertilizer on crop yield. she randomly assigned half of the plots on a farm to group one and the remaining plots to group two. on the plots in group one, the new fertilizer was used for a year. on the plots in group two, the old fertilizer was used. at the end of the year the average crop yield for the plots in group one was compared with the average crop yield for the plots in group two.
As a general rule: i. income from property is taxed to the person who owns the property. ii. income from services is taxed to the person who earns the income. iii. the assignee of income from property must pay tax on the income. iv. the person who receives the benefit of the income must pay the tax on the income.
From 1970 to 1980, the consumer price index (CPI) increased from 38.8 to 82.4. If a dozen eggs cost $0.25 in 1970 and the price of eggs increased at the same rate as the CPI from 1970 to 1980, approximately how much did a dozen eggs cost in 1980?
Because the price of eggs increased at the same rate as the CPI from 1970 to 1980, then, the amount that a dozen eggs cost in 1980 will be $0.53.
What is a CPI?The CPI refers to Consumer Price Index.
We calculate the Consumer Price Index by add together a sampling of product prices from a previous year and add together the current prices of the same products.
Hence, the amount that a dozen eggs cost in 1980 will be $0.53.
Therefore, the Option D is correct.
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Adam has been hired by an organization that has a partnership with a foreign company. both the partners share resources and knowledge while developing new products. adam's organization has formed a ________.
Adam has been hired by an organization that has a partnership with a foreign company. Adam's organization has formed a strategic alliance. Thus, the correct option is (C).
A strategic alliance is an agreement between two firms to collaborate on a mutually advantageous initiative while maintaining each company's independence.
The arrangement is less complicated and less enforceable than a joint venture, in which two firms combine their resources to form a new company organization.
Strategic relationships are not a cure-all for every firm or scenario. Companies, on the other hand, may strengthen their competitive posture, gain entrance into new markets, augment important capabilities, and share the risk and expense of large development initiatives through strategic partnerships.
Therefore, the correct option is "C".
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This is an incomplete question the complete question is:
Adam has been hired by an organization that has a partnership with a foreign company. both partners share resources and knowledge while developing new products. adam's organization has formed a ________.
A. licensing company
B. franchising company
C. strategic alliance
D. foreign subsidiary
Which step of the personal selling process did sam engage in when, early in his career, he made in-person cold calls with professors on various campuses?
Final answer:
Sam engaged in the prospecting step of the personal selling process when he made in-person cold calls with professors, which is critical in identifying potential clients. Developing an elevator pitch and doing prior career research can enhance the effectiveness of these cold calls.
Explanation:
When Sam made in-person cold calls with professors on various campuses early in his career, he engaged in the prospecting step of the personal selling process. Prospecting is the first stage where the salesperson identifies potential clients to whom they can sell their product or service. In Sam's context, this involved making unscheduled visits to professors, with the aim of establishing new contacts and introducing himself and his work.
Prospecting is essential because it establishes the groundwork for building relationships and achieving future sales. Sam's initiative to reach out directly and build these connections is a classic example of personal selling techniques being used to cultivate a customer base—here, comprising of educational institutions and academic professionals.
Personal selling becomes more effective with well-prepared communication strategies like an elevator pitch, which Sam would need to be concise and compelling enough to grab the attention of busy professors within a short time frame. Additionally, a thorough career research on the professors and their backgrounds would have supported his endeavor, making the cold calling approach more personal and targeted.
A firm's ________ consists of its planning, finance, accounting, legal, government relations, and other activities supplied by its various primary activities.
Runaround corporation sells running shoes and during january they ran production machines for 20,000 hours total and incurred $9,000 in maintenance costs. during july they ran production machines for 14,000 hours total and incurred $7,200 in maintenance costs. based on this data, what are the fixed costs?
Final answer:
To calculate the fixed maintenance costs of Runaround corporation, a system of equations is derived from the provided data. By solving this system, the fixed cost is determined to be $3,000.
Explanation:
To find the fixed costs for Runaround corporation based on the maintenance costs incurred during different machine operation hours, we can use a simple cost equation: Total Cost = Fixed Cost + (Variable Cost per Unit * Number of Units). In this case, Total Cost is the maintenance cost and Number of Units is the machine hours worked.
Step 1: Compute the Variable Cost per Machine Hour
We have two scenarios:
January: 20,000 machine hours and $9,000 maintenance costJuly: 14,000 machine hours and $7,200 maintenance costUsing these two points, we can create a system of equations:
9,000 = Fixed Cost + (Variable Cost × 20,000)7,200 = Fixed Cost + (Variable Cost × 14,000)By solving this system of equations, we can find the Fixed Cost and Variable Cost per Machine Hour.
Step 2: Solve for Fixed Cost
Subtracting the second equation from the first, we get:
(9,000 - 7,200) = (Variable Cost × 20,000) - (Variable Cost 14,000)
1,800 = Variable Cost × (20,000 - 14,000)
1,800 = Variable Cost × 6,000
Variable Cost = $0.30 per machine hour
Now, plug this back into one of the original equations:
9,000 = Fixed Cost + (0.30 × 20,000)
9,000 = Fixed Cost + 6,000
Fixed Cost = 9,000 - 6,000
Fixed Cost = $3,000
Is dividing work activities into separate job tasks; this is also called division of labor?
Within its human resource department, hoosier enterprises has a vice president of human resources, a director of human resources, a labor relations manager, assistant managers of human resources, a manager of compensation, an employee benefits manager, human relations supervisors, and team leaders for training and employee development. this hierarchy would suggest that hoosier enterprises has a(n) _______ organization.
Answer:
Hoosier Enterprises has a Tall Organizational Structure.
Explanation:
A tall organizational structure is an organization with tall hierarchy or many layers of structural levels. This type of structure is present in complex and large organizations. As we can see the example here, The Human Resource Department of Hoosier Enterprises has a tall structure having a Vice President, a Director, Labor Relations Manager, Assistant Managers of Human Resource, Manager of Compensation, an Employee Benefit Manager, Human Relations Supervisors and team leaders. This is a tall organizational structure that is prevailing in Hoosier Enterprises.
Phloem sap can flow ________. phloem sap can flow ________. from leaves to shoots only from sites of sugar production to storage units only from shoots to leaves only both ways between production and storage sites
Which answer best describes an unsubsidized federal loan?
A The federal government will cover the interest accumulated on the loan while you're in school.
B
You are only responsible for the cost of the loan.
C
The federal government will only cover the interest accumulated on the loan if you graduate and earn a degree.
D
You are responsible for paying all the interest that accumulates on your loan.
The answer is: D. You are responsible for paying all the interest that accumulates on your loan.
On average, the interest rates for student loan in untied states is around 6.8 - 7.7% and would keep accumulating until you pay them all. Unlike any other type of loans, you are still responsible to pay your student loans even if you declare bankruptcy. The repayment plan can be adjusted according to your convenience, but additional fees or interest may apply if you choose to do so.
An unsubsidized federal loan requires the borrower to pay all the interest that accumulates on the loan, even while in school.
Explanation:The correct answer is D - You are responsible for paying all the interest that accumulates on your loan.
An unsubsidized federal loan is a type of loan that is available to undergraduate, graduate, and professional students. Unlike a subsidized federal loan, the interest on an unsubsidized federal loan starts accruing from the moment the loan is disbursed. This means that you are responsible for paying all the interest that accumulates on your loan, even while you are still in school.
For example, if you borrow $10,000 through an unsubsidized federal loan and the interest rate is 5%, you will owe an additional $500 in interest for the first year of the loan.
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A financial institution wishes to estimate the mean balances owed by its credit card customers. the population standard deviation is $300. if a 99 percent confidence interval is used and an interval of ± $75 is desired, how many cardholders should be sampled?
Uncollateralized consumer credit is credit given to people. Installment credit is given in one lump sum and is then paid back over a predetermined period of time in regular payments.
Thus, Revolving credit is an unrestricted loan that you can utilize again and again as long as you keep up with the payments. Revolving credit carries the danger that interest may accumulate if the whole sum is not paid each month.
A loan with an installment payment schedule is one that is given in the form of a lump-sum loan for a specific amount. In most cases, payments are given in equal monthly increments.
large expenditures such as furniture, vehicles, and large appliances can all be paid for with installment credit. Interest rates on installment loans are often lower than those on revolving credit.
Thus, Uncollateralized consumer credit is credit given to people. Installment credit is given in one lump sum and is then paid back over a predetermined period of time in regular payments.
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He received a grant for $1,900. What is the minimum amount Joaquin will need to contribute to his education annually if he chooses to live at home?
A.$13,035
B.$14,935
C.$20,955
D.$22,855
Answer: The correct answer is choice a - $13,035.
Explanation: In order to calculate Joaquin’s out of pocket cost for college you need to first calculate what the total cost for college is. In this example, he will need to pay all of the listed fees except room and board if he chooses to live at home. The total of all of the fees except room and board is $14,935. He received a grant for $1,900 which needs to be deducted from the annual cost to determine his out of pocket cost. $14,935 - 1,900 = $13,035 equals his out of pocket cost.
A corporation has perpetual life, until one of its shareholder dies.
a. True
b. False
This graph shows the division of wealth in the United States in 2010.
Based on this graph, how much wealth did the top 20 percent of the population hold?
A - About 35 percent.
B - About 55 percent.
C - About 80 percent.
D - About 90 percent.
Based on this graph, the top 20 percent of the population consists of Top 1% and Next 19%. from the diagram above you can estimate that Top 1% has nearly 35% and Next 19% has nearly 55%.
Then the top 20% of the population hold about 35%+55%=90%.
Answer: correct choice is D.
Answer:
D. About 90%
Explanation:
The top 1% holds about 35% of the wealth, and the next 19% hold about 55%.
35+55 = 90%
So the top 20% hold about 90% of total wealth.
Another way to calculate this is to notice that 80% of people hold 10% of the wealth, so you could make (x= percentage of people) and subtract the remaining percentage of wealth. So:
(80% of people - x% of people) = (100% total wealth- 10% already taken)
x= 90%
The buying process begins with a comparison of available alternatives.
a. True
b. False
If you wanted to purchase previously issued shares of stock from another investor you would find the shares in the
a. primary market.
b. debt market.
c. ipo market.
d. secondary market.
e. seo market.
How can population changes affect demand for certain goods answers?
Population changes affect demand for certain goods by altering the number and characteristics of buyers, which leads to shifts in the demand curve. An aging population increases demand for medical and senior services, while a younger population drives demand for educational and childcare services. Higher incomes and price changes of related goods also change demand.
Population changes can significantly affect the demand for certain goods based upon demographic characteristics such as age, income levels, and family composition. For instance, as the proportion of elderly citizens rises, there is generally an increased demand for medical services, hearing aids, and nursing homes. In contrast, a society with more children may see an increase in demand for products like tricycles, day care services, and schools.
The demand curve shifts when the size or composition of the population changes, reflecting a different quantity demanded at every price point. This could be due to various demographic changes, like an increase in birth rates leading to higher demand for baby supplies, or an aging population that boosts the need for healthcare services. Furthermore, more income within a population can lead to increased demand for a wide variety of goods, while changes in the prices of related goods, such as substitutes or complements, can also influence demand patterns.
Laura is 8; her performance on a series of tasks is equivalent to that of the average 10-year-old. her intelligence quotient is:
Final answer:
Laura's IQ would be calculated using the formula IQ = (mental age ÷ chronological age) × 100. With her mental age being 10 years and her chronological age being 8 years, her IQ would be 125.
Explanation:
The question asks us to calculate Laura's IQ based on her performing tasks at the level of the average 10-year-old while she is only 8 years old. To find Laura's Intelligence Quotient (IQ), we use the formula:
IQ = (mental age ÷ chronological age) × 100.
Substituting the given values into the formula, we get:
IQ = (10 ÷ 8) × 100
This equals:
IQ = 1.25 × 100
IQ = 125
Therefore, Laura's IQ would be 125. It's important to note that while most modern intelligence tests use a individual's score compared to others of the same age, the concept of an intelligence ratio or quotient provides a good description of the score's meaning.