In "Their Eyes Were Watching God," Janie's American Dream is deeply intertwined with her desire for self-realization and a genuine, equal relationship with a partner. Throughout the novel, Janie seeks to find her place in the world and to break free from the restrictive gender roles imposed on women, particularly women of color, in early twentieth-century America.
Janie's journey takes her through three distinct communities: the strict, conformist community of her grandmother's house; the predominantly black, working-class community of Eatonville; and the wealthier, white-dominated community of Palm Beach. In each of these communities, Janie is confronted with different expectations of normalcy and womanhood.
Janie's grandmother and the community of her childhood place a high value on respectability and propriety, expecting women to be submissive and domestic. In contrast, the residents of Eatonville value hard work and self-sufficiency, but still view women primarily as wives and mothers. In Palm Beach, Janie is confronted with the white-dominated world of wealth and privilege, where she is expected to play a supporting role to her husband's social aspirations.
Despite these pressures, Janie remains committed to her dream of finding the horizon and achieving a genuine, equal partnership with a partner. For Janie, the horizon represents a boundless, expansive vision of possibility, both for herself and for her relationships. Through her journey, Janie learns to value her own desires and to reject the confining expectations of traditional womanhood. Ultimately, Janie's American Dream is a dream of self-realization, of finding her own voice and her own place in the world, on her own terms.
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If BHD 12000 is invested on June 25, 2022, at 6% interest
compounded semi-annually, find the maturity value and the compound
interest on November 19, 2022.?
The maturity value of the investment is BHD 12180.60, and the compound interest on November 19, 2022, is BHD 180.60.
Given data:
Principal amount (P) = BHD 12000
Rate of interest (r) = 6% (per annum)
Time (t) = 5 months (from June 25, 2022, to November 19, 2022)
The interest is compounded semi-annually, i.e. 2 times in a year. Therefore, the rate of interest per half-year = (6/2)% = 3%
Let us first calculate the maturity value:
Maturity Value (A) = P (1 + r/n)^(nt)
Where, n = number of times interest is compounded per year, and t = time in years
Hence, putting the values in the formula we get:
Maturity Value (A) = 12000(1 + 3/100)^(1/2)
Maturity Value (A) = 12180.60
Now let us calculate the compound interest.
Compound Interest (CI) = A - P
Compound Interest (CI) = 12180.60 - 12000
Compound Interest (CI) = 180.60
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Determining Liquid Assets and Current Liabilities. Based on these items, what is the total of the (a) liquid assets and (b) current liabilities?
Checking account balance $860
Retirement account balance $57,000
Credit card balance $117
Coin collection $450
Savings account balance $2,675
Current student loan payment due $220
Investment account balance $8,000
Mortgage $178,000
Please help, Worth 90 Points!!
Answer:
free points ezzzzz
Explanation:
Answer:
Cash: 7,11,19,12
A/R: 11,19
Outline TWO benefits of using the FIFO system for Mcdonald’s
There are several benefits for McDonald's by using FIFO methods. Here we will discuss some of them: better food hygiene, which gives more customers satisfaction; easier to reduce products near their end-date—resulting in more sales and less waste;
What is FIFO?
FIFO is a measuring tool for inventory valuation or management. In this, we have sold the goods which come first. This is called a FIFO, which is known as First In First Out.
Thus, McDonald's using the FIFO method gets such benefits as better food hygiene, which gives more customer satisfaction; easier to reduce products near their end-date – therefore more sales and less waste.
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the activity concerned with the production of goods and services is called
A businesses means any activity that is concerned with the production of goods and services.
What is a businesses?It is created by an entrepreneur who want to make profit by transacting goods or services for values
Therefore, a business is any activity that is concerned with the production of goods and services.
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59. Why don't workers in a Command Economy work hard?
a. Because they don't care about having money.
b. Because the business owners want them to be relaxed and calm.
C. Because they know they will get paid the same no matter how hard they work.
d. Because Mr. Coon and Mr. King aren't there to tell them to work harder.
Unit 2 The Free Enterprise Economy
pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 5.5%. The probability distributions of the risky funds are: Expected Return Standard Deviation Stock fund (S) 15 % 32 % Bond fund (B) 9 % 23 % The correlation between the fund returns is 0.15. Suppose now that your portfolio must yield an expected return of 12% and be efficient, that is, on the best feasible CAL. a. What is the standard deviation of your portfolio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
The standard deviation of the portfolio is 7.09%.
What is the proportion of stock in minimum risky portfolio?= [(0.23)² - (0.32*0.23*0.15)] / [(0.32)² + (0.23)² - (2*0.32*0.23*0.15)]
= 0.31421708452
= 31.42%
What is proportion of bond fund in minimum risky portfolio?= 1 - 0.31421708452
= 0.68578291548
= 68.58%
What is the expected return of minimum risky portfolio?= 0.3142*15% + 0.6858*9%
= 0.04713 + 0.061722
= 0.108852
What is the standard deviation of your portfolio?= ((0.6858)² * (0.23)² * (0.3142)² * (0.33)²) + ((2 * 0.6858 * 0.3142 * 0.32 * 0.23 * 0.15))^0.5
= (0.00026747972 + 0.00475776218)^0.5
= 0.0050252419^0.5
= 0.0708889406
= 7.09%
Therefore, the standard deviation of the portfolio is 7.09%.
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BPP Company maintains underground storage tanks for its operations. A new storage tank was installed and made ready for use at a cost of $1,000,000 on January 1, 2020. The useful life is estimated at 15 years, at which time the company is legally required to remove the tank and restore the area at an estimated cost of $100,000. The appropriate discount rate for the company is 12%. Required a. Record the storage tank asset and the related asset retirement obligation on January 1, 2020. B. Record any required adjusting entries on December 31 2020. C. Assume that on December 31, 2035, the tank is safely removed at a cost of $115,000. Record the required journal entry
Answer:
a. On January 1, 2020:
Storage Tank Asset: $1,000,000
Asset Retirement Obligation: $275,200
To calculate the Asset Retirement Obligation (ARO), we need to determine the present value of the estimated cost of the tank removal and restoration. The present value of the ARO is calculated using the following formula:
ARO = Future value of ARO / (1 + Discount rate)^n
where n = number of periods until settlement
Future value of ARO = $100,000
Discount rate = 12%
n = 15 years
ARO = $100,000 / (1 + 0.12)^15 = $275,200
b. On December 31, 2020:
Depreciation Expense: $66,667
Accumulated Depreciation - Storage Tank Asset: $66,667
Depreciation for the year is calculated as follows:
Depreciation Expense = (Cost of the asset - Estimated salvage value) / Useful life
Depreciation Expense = ($1,000,000 - $100,000) / 15 = $66,667
c. On December 31, 2035:
Asset Retirement Obligation: $115,000
Cash: $115,000
To record the actual cost of the tank removal and restoration, we debit the ARO account and credit Cash account for the actual cost incurred.
Asset Retirement Obligation = $275,200 - [$275,200 x (1 + 0.12)^15 - $115,000] = $115,000. The amount of the ARO was discounted to present value at the initial date of recognition, so the adjustment is needed to record the actual cost at the end of the useful life of the asset.
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what would happen to a monthly payment if the intrest rate increased
Answer:Your interest rate and the monthly payment will remain the same
Explanation:If you have a fixed-rate mortgage, the rising rate will have no impact on your loan: Your interest rate and the monthly payment will remain the same.
The monthly payment would increase if the interest rate is increased.
The monthly payment is the amount a person has to pay every month over the time period of the loan to pay off the loan. Interest is the additional amount a lender has to pay along with the principal amount when they avail a loan.
A loan with a higher interest rate means that the person will have to pay back more money and hence higher monthly payments as compared to someone who has a lower rate interest rate for the same amount and for the same time period.
For example, if you borrow $200 with a 5% interest rate you will have to pay back a total of $210 and if this is over 10 months then you will have to pay $21 every month. Now say you borrow the same amount for the same time period but with a 10% interest rate, then you will have to pay back a total of $220 and this means your monthly payment will be $21. Therefore monthly payment increases with the interest rate.
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In your own words, explain why we pay taxes.
Answer: To help support public schools and the economy.
Explanation:
the steps in the accounting cycle do not need to be efollowed in the order stated. monthly financial
The steps in the accounting cycle can be followed in a flexible order, and monthly financial statements play a crucial role in the process.
While there is a recommended sequence of steps in the accounting cycle, the order can be adjusted based on specific circumstances or organizational requirements. The accounting cycle typically includes steps such as analyzing transactions, journalizing, posting, adjusting entries, preparing financial statements, and closing the books.
Monthly financial statements are an integral part of the accounting cycle as they provide a snapshot of a company's financial performance and position for a specific month. These statements include the income statement, balance sheet, and cash flow statement. They help stakeholders evaluate the company's profitability, liquidity, and overall financial health on a regular basis.
Although monthly financial statements are often prepared towards the end of the accounting cycle, they can be generated at any point in the cycle to provide timely insights and support decision-making. Ultimately, the order of steps in the accounting cycle may be adjusted to accommodate the needs of the organization and ensure accurate and timely financial reporting.
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what is the source of income for the four sectors of the economy
Answer:
Consumer, Investment, Government, and Foreign.
Explanation:
Consumer:
Personal disposable income
Investment:
Retained earnings
Government:
Indirect business taxes, Corporate income taxes, Social Security contributions, and Individual Income taxes.
Foreign:
No specified source of income but is instead represented by the difference in goods sent abroad and goods purchased from abroad.
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All file types When a holding company wields a controlling interest in the subsidiary company? Explain the process of consolidation with hypothetical examples
The consolidated financial statements of the holding company and the subsidiary would reflect the figures shown in the explanation below, providing a comprehensive view of their combined financial position and performance.
Consolidation processThe process of consolidation involves several steps:
Preparation of Individual Financial Statements: Both the holding company and the subsidiary prepare their individual financial statements, including the balance sheet, income statement, and cash flow statement. Adjustments for Intercompany Transactions: Intercompany transactions refer to the financial transactions that occur between the holding company and the subsidiary. These transactions need to be eliminated or adjusted to avoid double counting.Calculation of Non-controlling Interest: Non-controlling interest (also known as minority interest) represents the portion of the subsidiary's equity that is not owned by the holding company. It is necessary to calculate the non-controlling interest to accurately reflect the subsidiary's ownership structure.Consolidation of Financial Statements: Once the adjustments for intercompany transactions and calculation of non-controlling interest are complete, the financial statements of the holding company and the subsidiary are consolidated.Preparation of Consolidated Financial Statements: The consolidated financial statements include a consolidated balance sheet, consolidated income statement, and consolidated cash flow statement.An hypothetical example to illustrate the consolidation process:
Holding Company (H) owns 100% of Subsidiary Company (S).
Holding Company Financial Statements:
Total Assets: $1,000,000Total Liabilities: $500,000Total Equity: $500,000Subsidiary Company Financial Statements:
Total Assets: $500,000Total Liabilities: $250,000Total Equity: $250,000Adjustments:
Intercompany revenue from H to S: $100,000Intercompany expense from S to H: $50,000Calculation of Non-controlling Interest:
H owns 100% of S, so there is no non-controlling interest.Consolidation:
Intercompany revenue and expense are eliminated.Total Assets: $1,500,000 ($1,000,000 + $500,000)Total Liabilities: $750,000 ($500,000 + $250,000)Total Equity: $750,000 ($500,000 + $250,000)Learn more on consolidation process here https://brainly.com/question/31166351
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If the marginal propensity to consume is 0. 75, then a $100 increase in investment will result in a maximum increase in equilibrium real gross domestic product of?.
If the marginal propensity to consume is 0. 75, then a $100 increase in investment will result in a maximum increase in equilibrium real gross domestic product of $400.00.
What is investment?
A purchase made with the intention of generating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person invests in a good, they do not intend to use it as a source of immediate consumption, but rather as a tool for future wealth creation. An investment always involves the expenditure of some resource today—time, effort, money, or perhaps an asset—in the anticipation of a future return greater than the initial investment. For instance, an investor might buy a financial asset right away with the hope that it will generate income later on or that it can be sold for a profit at a higher price.
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Career connection Follow the instructions and record your work in the
Make your interview as strong as you can because it could mean the difference between landing your ideal job or not.
What is Career connection ?It is extremely valuable to seek the advice of an industry mentor, leader, or seasoned professional because you will not only learn about the person's specific job but also about the industry as a whole, how they got to where they are in the field, whether you would enjoy their work, and how to structure your own career goals from an industry expert.
Send a request for an informative interview through email or phone to the person's workplace to arrange a non-formal interview regarding their position.
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Why would an entrepreneur be best suited to opening a new business, rather than buying an existing business or franchise?
Answer:
For example, it's really easy to finance while buying in an existing business while starting a new one. In Addition tons of bankers and investors all around the world would feel more comfortable dealing with a business that already has had a proven track record.
Explanation:
word limit 400
6. How does UPS's investment in IT help it achieve the strategic business objectives described in Chapter 1 ?
United Parcel Service, also known as UPS, invests significantly in IT infrastructure to achieve its strategic business objectives described in Chapter 1. UPS uses an online presence to provide its services to customers.
UPS has worked hard to ensure that the customer experience on their website is similar to what a person experiences when they enter one of their stores. This has resulted in an increase in customer satisfaction and loyalty, as well as a reduction in operating costs, resulting in increased profit margins.What is IT?IT is short for information technology, and it refers to the hardware, software, and telecommunications systems that organizations use to store, retrieve, and send information. This technology also assists organizations in streamlining their business processes, resulting in greater efficiency. Companies may use IT systems to manage everything from supply chains to customer service. In essence, IT is crucial to the success of any modern business.What is UPS's investment in IT?UPS invests heavily in IT infrastructure to support its operational capabilities. UPS's IT infrastructure includes a range of technologies that assist in the management of its extensive transportation network, such as package-tracking software and delivery-management systems.
UPS's investments in IT also include research and development into new technologies that can improve the company's overall efficiency. Furthermore, UPS's investment in IT includes the development of cutting-edge hardware and software that can improve the company's operational effectiveness.What are the benefits of UPS's IT investments?There are numerous benefits of UPS's IT investments. The most significant advantage of investing in IT is that it enables the company to automate a wide range of processes, resulting in greater efficiency and cost savings. UPS's investments in IT also include developing better technology and software that can improve the company's overall efficiency. Furthermore, UPS's investment in IT has resulted in an improved customer experience on their website. This has resulted in a rise in customer satisfaction and loyalty, as well as a reduction in operating costs, resulting in increased profit margins.How do UPS's IT investments help it achieve its strategic business objectives?UPS's IT investments assist it in achieving its strategic business objectives in a variety of ways.
By investing in cutting-edge technology and software, UPS has been able to streamline its operational processes, resulting in greater efficiency and cost savings. Furthermore, UPS's investment in IT has resulted in an improved customer experience on their website. This has resulted in a rise in customer satisfaction and loyalty, as well as a reduction in operating costs, resulting in increased profit margins.
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explain advertisement
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
Video concepts, inc. (vci) manufactures a line of dvd recorders (dvds) that are distributed to large retailers. The line consists of three models of dvds. The following data are available regarding the models: model dvd selling price variable cost demand/year per unit per unit (units) model lx1 $175 $100 2000 model lx2 $250 $125 1000 model lx3 $300 $140 500 vci is considering the addition of a fourth model to its line of dvds. This model would be sold to retailers for $375. The variable cost of this unit is $225. The demand for the new model lx4 is estimated to be 300 units per year, sixty percent of these units sales of the new model is expected to come from other models already being manufactured by vci (10 percent from model lx1, 30 percent from model lx2 and 60 percent from model lx3. Vci will incur a fixed cost of 20,000 to add new model to the line. Based on the data do you think they should add a new model lx4 to the lines or vcr's and if so why?
Using the contribution margin to calculate the net profit, it would not be profitable for VCR to add the new model LX4 to its line of DVD recorders.
Is there a justification to add a new model lx4 to the lines or vcr's?To determine whether VCI should add the new model LX4 to its line of DVD recorders, we need to calculate the incremental profit from adding the new model and compare it to the fixed cost of $20,000.
First, let's calculate the contribution margin per unit for each of the existing models:
Model LX1: Selling price per unit ($175) - Variable cost per unit ($100) = $75 contribution margin per unitModel LX2: Selling price per unit ($250) - Variable cost per unit ($125) = $125 contribution margin per unitModel LX3: Selling price per unit ($300) - Variable cost per unit ($140) = $160 contribution margin per unitNext, let's calculate the incremental profit from adding the new model LX4:
Selling price per unit ($375) - Variable cost per unit ($225) = $150 contribution margin per unitSales per year (300 units) x Contribution margin per unit ($150) = $45,000 incremental profit from new modelNow let's consider the expected impact on the sales of existing models:
Model LX1: 10% of 300 units = 30 units x Selling price per unit ($175) x Contribution margin per unit ($75) = $52,500 reduction in profitModel LX2: 30% of 300 units = 90 units x Selling price per unit ($250) x Contribution margin per unit ($125) = $11,250 reduction in profitModel LX3: 60% of 300 units = 180 units x Selling price per unit ($300) x Contribution margin per unit ($160) = $28,800 reduction in profitThe total reduction in profit from the existing models is $92,550. However, the incremental profit from the new model is $45,000, so the net profit impact of adding the new model LX4 is:
Net profit impact = Incremental profit - Reduction in profit from existing models
Net profit impact = $45,000 - $92,550
Net profit impact = -$47,550
Since the net profit impact of adding the new model is negative, it would not be profitable for VCR to add the new model LX4 to its line of DVD recorders. The fixed cost of $20,000 to add the new model would only exacerbate the negative impact on VCI's profits. Therefore, VCR should not add the new model to its line.
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What is telemarketing?
Answer:
Using the telephone or the Internet to promote products or services to prospective clients is known as telemarketing. Outbound calls, inbound calls, lead generation calls, and sales calls are the four most prevalent types of telemarketing calls.
Explanation:
Hope it helps:)
Definition : A telemarketer makes phone calls on behalf of the company to provide information about products and services to potential clients. When interviewing telemarketers the successful candidate will have a positive attitude with excellent sales skills.
What is a Telemarketer?
Telemarketers, also known as sales representatives, sell products or services over the telephone or through web conferencing. They usually work in call centers or at home for third-party call center companies. Additional responsibilities include: ... Contact potential and current customers to promote products or services.
What is a telemarketing in business?
Telemarketing is the direct marketing of goods or services to potential customers over the telephone, Internet, or fax.
What is telemarketing example?
Definition and examples. Telemarketing usually means contacting customers and potential customers by telephone, but can also include using fax or the Internet. Direct mail and face-to-face meetings are not part of telemarketing.
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High school students may include coursework in the education section of a résumé if it is relevant to the job opening. True or False
Answer:
the answer is true
Explanation:
Answer:
True
Explanation:
In order to search the internet you need to use software referred to as a__?
Answer:
search engine
Explanation:
A search engine is software designed to search web pages on the internet. Search engines work to provide answers to information sought from the internet. They locate, organize, and present the information sought on a database called index.
Yahoo and Bing are other examples of a search engine. It is the most known and most used.
Research cultural business communication etiquette for a country outside of the USA, and list 5 tips for successful cultural communication and etiquette in a business setting. Include the name of your country, the 5 tips (bulleted statements) and the website URL of your research used.
Answer:
wow
Explanation:
Since the mid-20th century, globalization has resulted in:
A. a decline in trade between countries on different continents.
B. rapid inflation that has devastated most world economies.
C. economies around the world becoming more connected.
D. significant improvements to the environment in most countries.
Answer:
C. economies around the world becoming more connected.
Explanation:
Globalization refers to the growing interactions between different countries. It results from the easy movement of people, ideas, technology, goods, and services across the world. Improvement in transport infrastructure, technology, and interdependence of people has accelerated globalization.
Globalization has made regions and countries more integrated. Easy movement of goods and services has increased trade and competition, making economies more dependent and connected to each other.
Answer: C. Economies around the world becoming more connected.
Explanation: Ap3x
what type of naval ships were the uss taylor and the uss gary, both of which were transferred by the u.s. to taiwan in 2017?
The USS Taylor and the USS Gary are Oliver Hazard Perry-class frigates, which were transferred by the U.S. to Taiwan in 2017.
The Oliver Hazard Perry-class frigates were designed in the 1970s as a class of guided missile frigates for the U.S. Navy. They were primarily used for anti-submarine warfare and anti-surface warfare missions, as well as for providing escort and patrol duties for naval convoys. The USS Taylor (FFG-50) and the USS Gary (FFG-51) were both commissioned in the 1980s and were active in the U.S. Navy until they were decommissioned in 2015. In 2017, the U.S. government approved the transfer of the two frigates to Taiwan as part of a larger package of arms sales to the country. The transfer of the ships was seen as a significant move in the context of the U.S.-China relationship, as China has long been opposed to any arms sales to Taiwan.
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certificates of deposit and money market accounts are both examples of investments with __________ risk and __________ return.
Certificates of deposit and money market accounts are both examples of investments with high risk and low return.
What is the purpose of a certificate of deposit?A certificate of deposit is a type of savings account in which the issuing bank holds a specific quantity of money for a specified period of time, such as six months, one year, or five years, in exchange for interest.
When one cash in or redeem your CD, they get the money they put in plus any interest earned.
Thus, high and low are correct.
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Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a manufacturer of dog food, produces its product in 1,000-bag batches. The standard cost of each batch consists of 9,000 pounds of direct materials at $0. 40 per pound, 48 direct labor hours at $8. 50 per hour, and variable overhead cost (based on machine hours) at the rate of $10 per hour with 16 machine hours per batch. The following variable costs were incurred for the last 1,000-bag batch produced:
Direct materials
11,300 pounds costing $4,378 were purchased and used
Direct labor
45 hours costing $450
Variable overhead
$250
Machine hours used
20 hours
(a) Determine the actual and standard variable costs per bag of dog food produced, separated into direct materials, direct labor, and variable overhead
To determine the actual and standard variable costs per bag of dog food produced, Actual Variable Cost per Bag: Direct Materials: $0.3876, Direct Labor: $10, Variable Overhead: $0.25. Standard Variable Cost per Bag:, Direct Materials: $3.60, Direct Labor: $0.408, Variable Overhead: $0.16
1, Direct Materials:
The actual cost of direct materials used is $4,378 for 11,300 pounds, which gives us a cost of $0.3876 per pound.
The standard cost of direct materials per batch is 9,000 pounds at $0.40 per pound, which gives us a cost of $3,600 per batch. Dividing this by 1,000 bags, we get a standard cost of $3.60 per bag.
2. Direct Labor:
The actual cost of direct labour is $450 for 45 hours, which gives us a cost of $10 per hour.
The standard cost of direct labour per batch is 48 hours at $8.50 per hour, which gives us a cost of $408 per batch. Dividing this by 1,000 bags, we get a standard cost of $0.408 per bag.
3. Variable Overhead:
The actual variable overhead cost is $250.
The standard variable overhead cost per batch is 16 machine hours at $10 per hour, which gives us a cost of $160 per batch. Dividing this by 1,000 bags, we get a standard cost of $0.16 per bag.
Therefore, the actual and standard variable costs per bag of dog food produced, separated into direct materials, direct labour, and variable overhead are:
Actual Variable Cost per Bag:
Direct Materials: $0.3876
Direct Labor: $10
Variable Overhead: $0.25
Total Actual Variable Cost per Bag = $0.3876 + $10 + $0.25 = $10.6376
Standard Variable Cost per Bag:
Direct Materials: $3.60
Direct Labor: $0.408
Variable Overhead: $0.16
Total Standard Variable Cost per Bag = $3.60 + $0.408 + $0.16 = $4.168
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Before you move forward, summarize the changes you will need to make to your new budget. Describe these changes in at least two sentences.
Answer: yes
Explanation:
The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.
Answer:
The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.
Explanation: I just did the test an got a 100
Closure is the property of an operation and a set that the performance of the operation on members of the set always yields a member of the ______.
Answer:
Set.
Explanation:
Closure property in algebra asserts that 'when an operation(multiplication, addition) takes place among the members of a set, the result produced would surely be a member of that same set.' For example, if we add or multiply two real numbers(members of the same set), the result would be a real number for sure(a member of the same set). It implies that 'real numbers are closed under multiplication and addition.' While if I subtract two real numbers, I may or may not get a real number. Thus, the real numbers are closed under subtraction.
Competition among sellers (producers) lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy.
A. Explain how the above (free market competition) would be an advantage for you, the consumer.
B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.
Answer:
A. Explain how the above (free market competition) would be an advantage for you, the consumer.
Free market competition is advantageous to the consumer because it promotes the supply of many goods and services, at a lower price than other market structures like oligopoly or monopoly.
In the free market, there are many firms, none have market power, and they produce goods and services that have many substitutes. This means that if a firm raises the price of a good, consumers simply flock to another firm that offers a similar product. This mechanism obliges firms to offer their goods at the market-clearing price, which is the best price for the consumer.
B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.
Oligopolies ocurr when there are only a few firms in the market, and monopoly ocurrs when there is only one firm. These two market structures allow firms to charge higher prices than the market-clearing price, and to supply less quantity than the market-clearing quantity.
Besides, oligpolies and monopolies are characterized by high barriers to entry and exit, which keep potential competing firms out of market, inhibiting competition.