a group of firms that act in unison to maximize collective profits is called a monopolistically competitive industry. monopoly. cartel. nash equilibrium market.

Answers

Answer 1

A group of firms that act in unison to maximize collective profits is called a cartel, which is a type of monopoly.

Monopolistically competitive industries, on the other hand, consist of many firms that compete with each other but have some degree of market power. The Nash equilibrium is a concept in game theory that describes the point at which all players in a game make their best possible decisions given the decisions of the other players. In a market with perfect competition, the Nash equilibrium is achieved when each firm produces at the lowest possible cost and charges the market price. However, in a monopolistic or oligopolistic market, the Nash equilibrium can lead to higher prices and lower output.

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Answer 2

A group of firms that act in unison to maximize collective profits is called a cartel. A cartel is a type of collusion in which firms coordinate their production and pricing decisions to achieve higher profits than they would be able to earn if they were competing with each other.

In a cartel, firms may agree to limit production or fix prices to create a monopoly-like situation and increase their market power. Cartels are typically formed by firms in industries that have high barriers to entry, such as the oil industry or the telecommunications industry.

However, cartels are generally illegal and are often subject to antitrust laws that prohibit collusion and price-fixing. Cartels can also be unstable and may break down if one or more firms decide to defect from the agreement and increase production or lower prices to gain a competitive advantage.

Monopolistically competitive industries are characterized by many firms producing differentiated products, while a monopoly is a market structure with a single seller that has complete control over the supply of a good or service. A Nash equilibrium is a situation in which each player in a game chooses a strategy that is optimal given the strategies chosen by the other players.

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Related Questions

A manager at Strateline Manufacturing must choose between two shipping alternatives: two-day freight and five-day freight. Using five-day freight would cost $155 less than using two-day freight. The primary consideration is holding cost, which is $11 per unit a year. 2,175 items are to be shipped. Which alternative would you recommend

Answers

A supervisor at Stateline production needs to pick out it to head for two-Day Freight for shipping

Shipping is the bodily moving of desirable from one factor to any other, along with the shifting of products from the warehouse to the consumer. The shipping process follows the manufacture and the packing of goods and might be managed by a delivery or logistics corporation.

USPS will continually be the cheapest way to ship in comparison to FedEx or use hands down. but as the weight creeps in the direction of 2 kilos, USPS shipping costs achieve pricing parity with America and FedEx floor.

The 3 degrees of the shipping procedure include receiving, processing, and satisfying order. these ranges impact how quickly and accurately you can prepare a patron order and have it shipped directly to its stop vacation spot.

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withdrawal from a conflict is best used when ______.

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Withdrawal from a conflict is best used when the situation poses a low importance to the individual and there is no significant need or desire to engage further.

Withdrawal from a conflict can be a strategic choice when the issue at hand is not of great importance or significance to the individual involved. It can be employed when the individual recognizes that further engagement in the conflict will not yield desired outcomes or when the costs of continued involvement outweigh the potential benefits. By choosing to withdraw, individuals can avoid unnecessary stress, maintain peace, and conserve their energy for more important matters. However, it is essential to consider the context and the potential consequences of withdrawal, as it may not always be the most appropriate or effective approach, particularly in situations where the conflict has significant implications or requires resolution for personal or collective well-being.

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What is the difference between a multinational corporation (MNC) and an international business? A. The international business has been in existence longer than the multi-national firm B. There is no difference C. The international business has sites in a larger number of countries. D. For the multinational firm, the business done outside the country is especially significant

Answers

As a result, D is the best option. The key contrast between an MNC and an international organization is that an MNC conducts a significant portion of its operations outside of its home country.

In general, international business involves both domestic and foreign countries.

A. This is an incorrect statement because there is no guarantee that either type of firm will continue to exist. Option A is the incorrect choice due to this erroneous difference.

B. This statement is incorrect since multinational corporations and global enterprises are not the same things. There are various distinctions between them. As a result, option B is inappropriate.

C. Option C is false because both types of organizations have a global reach and locations in multiple countries. This option is erroneous because it represents an invalid difference.

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The use of short, direct sentences with no fluff is known as ______. a. Business style b. Casual style c. Creative style d. Direct style

Answers

Answer:

A

Explanation:

The question asks you to finish the statement and supply any more words that would help it. Hence option A is correct .

What is Business Style ?

Based on this, my response would be that the phrase is referred to as a business style. If I answered your question satisfactorily, please feel free to ask any more questions.

The term "Business Style" refers to the business name that the taxpayer uses that is registered with the relevant regulatory agency in addition to its registered name or company name.

BUSINESS WRITING STYLE

This corporate writing manual uses the term "style" to describe the structure, tone, and intensity of sentences.

Academic writing style and business writing style are very different.

In a book about writing, the following statement was advised to students:scholarly writing

"As a third-year history major with a little more than $10,000 in student loan debt, I find McPherson and Schapiro's rejection of Clinton's national service plan to be short-sighted and insensitive to the experiences of many college students who are struggling to pay for their education only to face significant financial burdens after graduation.

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why planning is important before starting a business? ​

Answers

Answer:

So you can get ready to know 'how to make your business good'

If you don't plan, then you'll forget to setup something is may be important

Explanation:

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The production cost in GHC per week of producing x computers is given by
\(c(x) = 4000 - 32x + 0. 08 {x}^{2} + 0. 00006 {x}^{3} \)
and the demand function for the computers is given by
\(p(x) = 250 + 0. 02x - 0. 001 {x}^{2} \)
What is marginal cost, marginal product, and marginal revenue. When
\(x = 200 \)
and
\(x = 400\)
what does theses numbers tells you about marginal cost, marginal product and marginal revenue​

Answers

When x = 200 and x = 400, you can calculate the values of marginal cost, marginal product, and marginal revenue at these specific production levels. These numbers will provide insights into the changes in cost, production, and revenue associated with increasing the quantity produced from 200 to 400 units.

Marginal cost represents the additional cost incurred by producing one more unit of output. It is calculated as the derivative of the cost function with respect to the quantity produced (x). In this case, the marginal cost can be obtained by taking the derivative of the cost function c(x).

Marginal product refers to the additional output produced by employing one more unit of input. It is calculated as the derivative of the production function with respect to the quantity produced (x).

However, the given problem does not provide a production function explicitly, so it is not possible to determine the marginal product.Marginal revenue represents the additional revenue generated by selling one more unit of output.

It is calculated as the derivative of the revenue function with respect to the quantity sold (x). In this case, the revenue function can be obtained by multiplying the price function p(x) by the quantity produced (x).

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Comparative advantage Sam and Madeline are partners at a management consulting firm. They are trying to determine which of them has a comparative advantage in creating the 25 slides required for a sales pitch to a prospective client. Sam can create 20 slides per hour. For other activities, he can bill clients $400 per hour. Sam's opportunity cost of creating slides is per slide. Madeline's opportunity cost of creating slides is 35% higher than Sam's. However, as the junior partner, her billing rate is 30% lower. Based on all of these facts, has a comparative advantage in creating slides.

Answers

Sam has a comparative advantage in creating slides. Comparative advantage is determined by comparing opportunity costs.

Sam's opportunity cost of creating slides is the forgone billing rate per slide, which is $20 ($400 per hour divided by 20 slides per hour). Madeline's opportunity cost is 35% higher, which would be $27 per slide.

Although Madeline's opportunity cost is higher in terms of the actual cost per slide, it is important to consider the relative billing rates as well. As the junior partner, Madeline's billing rate is 30% lower than Sam's, which means her billing rate is $280 per hour. Comparing the opportunity cost in terms of the billing rate, Sam's opportunity cost per slide is $20, while Madeline's opportunity cost is $27. Therefore, Sam has a lower opportunity cost and a comparative advantage in creating slides.

Sam's ability to create slides more efficiently allows him to produce them at a lower cost compared to Madeline. This means that it would be more beneficial for the firm to allocate the task of creating slides to Sam, as he can produce them at a lower opportunity cost and ultimately maximize the firm's overall productivity and profitability.

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Assume that labor and capital are the only two inputs a perfectly competitive firm uses to produce wheat. The firm hires its inputs in perfectly competitive input markets. The unit price of labor is $8 and of capital is $20. When the firm employs the profit-maximizing combination of these two inputs, the marginal product of labor is 2 tons of wheat and of capital is 5 tons of wheat. The price of wheat per ton must be

Answers

The price of wheat per ton must be $4 when profit-maximizing combination is employed.

What is Price?

This is defined as the amount of money that has to be paid to acquire a given product.

To get the price per ton for the company to make profit, we find the ratio of the unit price of labor to the marginal product of labor.

$8 / $2 = $4.

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A firm that decides to expand internationally based on the availability of government subsidies in the host country is pursuing ______.

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A firm that decides to expand internationally based on the availability of government subsidies in the host country is pursuing Multinational business.

Multinational business refers to any commercial activity that is done beyond the geographical boundaries of a country. Therefore it includes the exchange of not only goods and services but also the movement of technology, capital, personnel, intellectual property such as patents and copyright.

International trade is only possible when there are transactions between  the two countries.

Every country has its own legal framework so in order to operate within a country a company has to comply with all those rules and regulations, Also currency plays a vital role in the multinational trade. The duration of sending and receiving goods to payment is longer than domestic trade.

Hence, a firm that decides to expand internationally based on the availability of government subsidies in the host country is pursuing Multinational business.

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Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.

Answers

Answer with its Explanation:

The double entry to record the postage expenses of $140 and the printing expense of $54 is as under:

Dr Postage Expenses        $140

Dr Printing Expenses         $54

Cr Petty Cash Account                       $193

Cr Cash Over and Short Account      $1

According to the summarized Report, the cash at hand is $7 which must be $6 ($200 - $194). This difference can adjusted in Cash Over and Short Account which is used to adjust minor differences in cash balance.

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what can you do to effectively navigate a panel interview? check all that apply. prepare basic biographical information on each interviewer. make sure you meet with two or more interviewers on a one-on-one basis. keep eye contact with the questioner as well as with others. ask the panel members rapid-fire questions. take notes during the interview.

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To effectively navigate a panel interview-

Keep eye contact with the questioner as well as with others. Prepare basic biographical information on each interviewer. Make sure you meet with two or more interviewers on a one-on-one basis.

A panel interview is a specific type of conversation in which one candidate is questioned by numerous interviewers, often from different departments of the company, such as the potential employer and a member of the people recruiting team.

You can safely pass this identical panel interview by keeping eye contact with the interviewer as well as the other panelists, writing a brief bio about each interviewer, and making sure you speak with three or more investigators at least once.

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In a very poor and small town, Larry hits the lotto and decides to give every person in the town $1,000. The quantity of spam demanded in the town declines. The local grocery store decides to lower the price of spam to increase the quantity of spam that is being demanded. Does a lower price of spam unambiguously increase the quantity of spam demanded? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Lower price increases Q unambiguously b Lower price increases purchasing power, which increases Q c Lower price increases purchasing power, which decreases Q d Lower price makes the good relatively cheaper, which could potentially increase Q e B+D Your answer f C+D

Answers

The correct option is (e) B+D.

In a very poor and small town, if Larry hits the lotto and decides to give every person in the town $1,000, the quantity of spam demanded in the town will decline. The local grocery store might decide to lower the price of spam to increase the quantity of spam that is being demanded. However, a lower price of spam does not unambiguously increase the quantity of spam demanded. Therefore, the answer is (e) B+D. Lower price makes the good relatively cheaper, which could potentially increase Q, but it also decreases purchasing power, which could potentially decrease Q. Hence, the answer is not (a), (b), (c), or (f).

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What most likely indicates a trafficking in persons situation?

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Trafficking in humans serves as a source of funding for terrorist, organized crime, and extremist organizations.

What is trafficking?

Trafficking is the trade of humans for exploitation purposes, such as forced labor, sexual exploitation, and forced marriage. This illegal practice is a violation of human rights and often involves deception, kidnapping, or coercion of individuals, mostly women and children. The victims are usually from poor or marginalized communities and are taken to different countries, where they are exploited and forced to work in inhumane conditions. Trafficking can take many forms, including forced labor in factories, agriculture, and construction, or sexual exploitation in brothels, massage parlors, and other venues. It is a global issue affecting millions of people every year and requires collective efforts from governments, NGOs, and communities to prevent it and protect its victims.

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What is the ""yield %"" which sometimes appears in stock listings? a. the % that the stock price has changed from the previous day. b. the % of the shares of stock owned by the largest shareholder. c. the % of shares of the stock owned by the board of directors. d. the % of the stock price offered as a dividend. please select the best answer from the choices provided a b c d

Answers

The proportion of the stock price that is given as a dividend.

Dividends are the regular payments made to shareholders from a company's profits.

The dividends are not known in advance and are linked to the company's profits.

The profit on the stock price is the yield.

A dividend is when a company gives its shareholders a portion of its profits.At the point when a company procures a benefit or excess, paying a piece of the benefit as a profit to shareholders is capable.Retained earnings are used to reinvest in the business any money that is not distributed.

How are dividends earned?

A company's regular profit-sharing payments to its investors are called dividends.The price per share as well as the timing and frequency of dividend payments are decided by a company's board of directors.During times when inflation is high, dividend stocks can provide a steady stream of income.

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Assume that 4 years from now will need $1,000. Your bank compounds interest 8% annual rate.
a. How much must you deposit 1 year from now to have a balance of $1,000 at year 4? b. If you want to make equal payments at the end of Years 1 through 4 to accumulate the $1,000, how large must each of the 4 payments be?
c. If your father to offer either to make the payments calculated in part b ($221.92) or to give a lump sum of$750 one year from now, which would you choose?
d. If you will have only $750 at the end of Year 1, what interest rate, compounded annually, would you have to earn to have the necessary $1,000 at Year 4?
e. Suppose you can deposit only $186.29 each at the end of years 1 through 4 but you still need the $1,000 at the end of year 4. What interest rate, with annual compounding, is required to achieve your goal?
f. To help you reach your $1,000 goal, your father offers to give you $400 one year from now. You will get a part-time job and make six additional deposits of equal amounts each 6 months thereafter. If all of this money is deposited in a bank that pays 8% compounded semiannually, how large must each of the 6 deposits be?
g. What is the effective annual rate being paid by the bank in part f?

Answers

a. To have a balance of $1,000 at year 4, you must deposit $1,000 / (1 + 0.08)^3 = $793.83 one year from now.

b. To make equal payments at the end of Years 1 through 4 to accumulate the $1,000, each of the 4 payments must be $1,000 / [(1 + 0.08)^3 + (1 + 0.08)^2 + (1 + 0.08)^1 + 1] = $221.92.

c. If your father offers to make the payments calculated in part b ($221.92) or to give a lump sum of $750 one year from now, you should choose the lump sum of $750 because it will accumulate to $750 * (1 + 0.08)^3 = $997.01 at the end of Year 4, which is closer to your goal of $1,000.

d. If you will have only $750 at the end of Year 1, the interest rate, compounded annually, that you would have to earn to have the necessary $1,000 at Year 4 is (1 + r)^3 = $1,000 / $750 => r = 9.26%.

e. If you can deposit only $186.29 each at the end of years 1 through 4 but you still need the $1,000 at the end of year 4, the interest rate, with annual compounding, that is required to achieve your goal is (1 + r)^3 + (1 + r)^2 + (1 + r)^1 + 1 = $1,000 / $186.29 => r = 11.89%.

f. If your father offers to give you $400 one year from now and you make six additional deposits of equal amounts each 6 months thereafter, each of the 6 deposits must be ($1,000 - $400 * (1 + 0.08 / 2)^6) / [(1 + 0.08 / 2)^5 + (1 + 0.08 / 2)^4 + (1 + 0.08 / 2)^3 + (1 + 0.08 / 2)^2 + (1 + 0.08 / 2)^1 + 1] = $87.64.

g. The effective annual rate being paid by the bank in part f is (1 + 0.08 / 2)^2 - 1 = 8.16%.

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Determining a job's cognitive ability requirement is part of the task analysis process. true or false ?

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True.  As part of the task analysis process, determining a job's cognitive ability requirement involves identifying the mental processes and skills necessary to successfully perform the job tasks.

such as problem-solving, decision-making, and critical thinking. This information is then used to develop job performance standards and assess candidate qualifications. Task analysis is a process of breaking down a job or task into its component parts or steps in order to better understand the skills, knowledge, and abilities required to perform the task successfully. The process typically involves observing and documenting the tasks performed by workers, interviewing workers and supervisors, and examining any relevant documentation or procedures.

Cognitive ability requirements refer to the mental skills, knowledge, and abilities needed to successfully perform a job or task. This includes things like problem-solving, critical thinking, decision-making, and learning ability. Determining the cognitive ability requirements of a job is an important part of the task analysis process as it can help ensure that job candidates have the necessary mental abilities to perform the job successfully.

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what is the independent variable in the following scenario? select the best answer. researchers study the impact of a room's color on productivity.

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In the scenario of studying the impact of a room's color on productivity, the independent variable is the room's color.

The independent variable in an experiment is the factor that researchers manipulate or control to observe its effect on the dependent variable. In this case, the researchers are studying the impact of a room's color on productivity. The independent variable is the room's color because the researchers will deliberately choose and manipulate different colors in the rooms they study.

To determine the influence of room color on productivity, the researchers may set up multiple rooms with different colors, such as blue, green, red, or neutral colors. They will then observe and measure the productivity levels of individuals in each room.

By manipulating the independent variable (room color), the researchers can examine its impact on the dependent variable (productivity).

Therefore, in the context of this study, the independent variable is the room's color as it is being controlled and manipulated to investigate its effect on productivity.

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Which of these statements is FALSE? Liabilities = Assets - Equity Liabilities - Equity = Assets Assets - Liabilities - Equity Assets = Liabilities + Equity Question 37 Which of the following is likely NOT a type of not-for-profit entity? public library local Cineplex deon movie theater community foundation university Question 38 ) Which of these accounts is a liability? Accounts Receivable Accounts Payable Supplies Inventory Salaries Expense

Answers

1. The FALSE statement is, Assets - Liabilities = Equity. Option c is correct. 2. The likely NOT a type of not-for-profit entity is local Cineplex deon movie theater. Option b is correct. 3. The liability account is Accounts Payable. Option b is correct.

 

The correct accounting equation is Assets = Liabilities + Equity. This equation represents the fundamental principle of double-entry bookkeeping. It states that the total assets of a company are equal to the sum of its liabilities and equity. This equation must always balance, ensuring that every transaction affects both sides of the equation equally. Option c is correct.

The likely NOT a type of not-for-profit entity is Local Cineplex deon movie theater. Not-for-profit entities are typically organizations that exist for charitable, educational, religious, or other public service purposes. While a public library and a community foundation university are examples of not-for-profit entities, a local Cineplex movie theater is typically a for-profit business that operates with the intention of making a profit from ticket sales and concessions. Option b is correct.

Accounts Payable represents the amount a company owes to its creditors or suppliers for goods or services purchased on credit. Accounts Receivable is an asset account that represents the amount owed to a company by its customers. Supplies Inventory is an asset account that represents the value of supplies held by a company. Salaries Expense is an expense account that represents the cost of salaries or wages paid to employees and is not a liability account. Option b is correct.

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--The complete question is, 1. Which of these statements is FALSE?

Liabilities = Assets - Equity

Liabilities - Equity = Assets

Assets - Liabilities = Equity

Assets = Liabilities + Equity

2. Which of the following is likely NOT a type of not-for-profit entity?

a. public library

b. local Cineplex deon movie theater

c. community foundation university

3. Which of these accounts is a liability?

a. Accounts Receivable

b. Accounts Payable

c. Supplies Inventory

d. Salaries Expense--

Which resource management activity identifies and verifies that personnel.

Answers

The process of credentialing helps in identification and verification of the personnel in an organization.

What is credentialing?

The process that involves the documentation of an individual for the purpose of ensuring and authenticating the true and fairness of the qualifications of an individual associated with the organization is known as credentialing.

It is one of the most important function of the resource management system, which ensures that the organization can be assured of the skills mentioned by the personnel.

Hence, credentialing process is as defined above.

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A 160-lb person is walking across a level bridge and stops three-fourths of the way from one end. The bridge is uniform and weighs 600 lb. What are the values of the vertical forces exerted on each end of the bridge by its support

Answers

The values of the vertical forces exerted on each end of the bridge by its support are equal and opposite, and have a magnitude of 380 lbs.

To solve this problem, we can use the principle of static equilibrium. Since the bridge is not accelerating, the sum of all forces acting on it must be zero. This means that the vertical forces exerted by the supports on each end of the bridge must be equal and opposite. We can start by calculating the weight of the bridge plus the person, which is 760 lbs.

Since the person stops three-fourths of the way from one end, we can assume that two-thirds of the weight of the bridge is on the side where the person is standing, and one-third is on the other side. This means that the vertical force exerted by the support on the side where the person is standing is (2/3)*760 = 507 lbs, and the force on the other side is (1/3)*760 = 253 lbs. However, since the forces must be equal and opposite, we need to switch the signs of these values to get the final answer: 380 lbs.

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Which loan or loans listed below are awarded based on the financial need of the student?

Answers

Answer:

B) 1 and 2. I just took the quiz

Explanation:

Answer:

f me

Explanation:

The total number of africans forcibly brought to all of the americas as slaves is estimated to have been as many as?

Answers

Answer:

eleven million

Explanation:

Your answer should be eleven million.

Henry Ford paid his workers $5 a day in 1914 when the CPI was 10. Today with a price index at 177, the $5 a day is worth $88.50. True or false?

Answers

The statement Henry Ford paid his workers $5 a day in 1914 when the CPI was 10. Today with a price index at 177, the $5 a day is worth $88.50 is FALSE.

To determine the value of $5 in 1914 in terms of today's purchasing power, we need to adjust it for inflation using the CPI (Consumer Price Index). The CPI is a measure of the average change over time in the prices paid by urban consumers for a basket of goods and services. According to the Bureau of Labor Statistics, the CPI in 1914 was 10, while in 2021 it was 273.

To calculate the inflation-adjusted value of $5 in 1914, we can use the following formula:

(1914 CPI / 2021 CPI) x $5 = inflation-adjusted value of $5 in 1914

Plugging in the numbers, we get:

(10 / 273) x $5 = $0.18

Therefore, $5 in 1914 is equivalent to about $0.18 in 2021 dollars. This means that the $5 a day that Henry Ford paid his workers in 1914 would be worth about $177.50 today, not $88.50 as stated in the original statement.

It's worth noting that $5 a day was a relatively high wage for factory workers in 1914, and Ford's decision to pay his workers well helped him attract and retain a loyal workforce. However, the value of that wage has decreased significantly due to inflation over the past century.

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What is the first step in the standard purchasing process practiced by most
companies?
A. Solicit bids
B. Requisition
C. Invoicing
D. Purchase order

Answers

Answer:

B. requisition

Explanation:

i have done this before, hope i helped

I think b
Hope its help for your questions

what are four common reasons why new products may fail? (check all that apply.) multiple select question. the marketing plan for the product is weak. the product-market has a consistent level of demand. the product is not designed well. a company underestimates the competition. the benefit offered is not unique. the product lacks customization.

Answers

Based on marketing strategy, the four common reasons why new products may fail include "the market plan for the product is weak."

What is Products Failure?

Product Failure is a term that is used to define a situation whereby the company is unable to meet its strategic Objectives & Key Results (OKRs) figures set for the product.

Other common reasons why new products may fail include:

The product is not well designedA company underestimates the competitionThe benefit offered is not unique.

Examples of Failure of New Products are the following:

Goógle Glasses: this product was generally considered expensive and low battery to complement. After two years of production, it was discontinued due to lower sales and acceptance.

Galaxy Nóte 7: This product design was poor, especially in terms of battery as it was known to be a "time bomb." The device battery was found on many occasions to catch fire, thereby causing damage.

Hence, in this case, it is concluded that there are various reasons why new products may fail.

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Help please!!
Andrew is a software professional. He wants to join a group of software professionals on a networking site to remain updated on latest software trends. Which networking site should Andrew join?

Help please!!Andrew is a software professional. He wants to join a group of software professionals on

Answers

Answer:

Linkedin

Explanation:

it specializes in that department

TRUE OR FALSE: A mathematics professor at a university would fall under both the Education and Training career cluster and the STEM career cluster.

Answers

Answer is : True
Explanation: none

Read the stage direction: As the first of the mob reaches the bottom steps. The screen door opens and Goodman comes out, a man in his early forties who first greets them smiling and then letting the smile fade as he sees the faces. Based on the stage direction, what should the reader visualize? *


a group of people calmly approaching Goodman’s home
a group of confused people rushing to safety at Goodman’s home
a group of angry people approaching Goodman’s home
a group of people rushing to save Goodman from the outage

Answers

Answer:

C.

Explanation:

A group of angry people. L(-_-)\

                                                     \

Answer:c lol angry people

Explanation:

If Jason can wash a car in 20 minutes and wash a dog in 10 minutes and Megan can wash a car in 15 minutes and wash a dog in 15 minutes, which of the following statements is true? a. Megan can wash two cars in the time it takes Jason to wash a dog. b. The opportunity cost of washing a car is one dog bath for Jason. c. The opportunity cost of washing a car is greater for Megan. d. Jason has both a comparative and an absolute advantage in washing a dog. e. The opportunity cost of washing a dog is lower for Megan.

Answers

Answer:

d. Jason has both a comparative and an absolute advantage in washing a dog.

Explanation:

Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.

The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.

In 1817, David Ricardo who is an english political economist talked about the law of comparative advantage in his book “On the Principles of Political Economy and Taxation."

Also, the principle of comparative advantage asserts that countries can become better off by specializing in what they do best.

This simply means that, any country applying the principle of comparative advantage, would enjoy an increase in output and consequently, a boost in their Gross Domestic Products (GDP).

An absolute advantage can be defined as the ability of an individual such as a producer to produce a good or provide a service in larger (greater) quantity for the same amount of money or the same quantity at a lesser cost or time. Thus, it's the superior capability of an individual over another using the same resources.

Hence, the statement which is true is that, Jason has both a comparative and an absolute advantage in washing a dog because he washes it in 10 minutes while it would take Megan 15 minutes.

Suppliers want to sell large quantities of products with a high

Answers

Answer:

price

Explanation:

supplier will be willing and able to sell products for high prices as their able to make a good profit

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