Answer each of the following questions as either true or false. For a statement to be "true," it must always be true. If there is at least one case where the statement is not true, answer "false." You must justify each answer with an appropriate explanation or counterexample (which may include a relevant diagram).
(a) In an oligopoly model where firms choose prices for a homogeneous product and have constant (but different) marginal costs, there is a Bertrand-Nash equilibrium in which both firms make sales to customers.
(b) In an oligopoly model where firms choose quantities for a homogeneous product and have constant (and identical) marginal costs, an increase in the number of firms causes the market price to fall.
(c) For both perfect competitors and monopolies, a firm’s marginal revenue is equal to the price of the good that the firm sells: if corn costs $6 per bushel and the firm sells one more unit, then revenue rises by $6.

Answers

Answer 1

a) FalseAn oligopoly model where firms choose prices for a homogeneous product and have constant (but different) marginal costs doesn't have a Bertrand-Nash equilibrium in which both firms make sales to customers.

In this scenario, the firms will attempt to undercut each other, resulting in a price war that will drive the price down to marginal cost, and both will sell an equal amount of output at this price.b) TrueIn an oligopoly model where firms choose quantities for a homogeneous product and have constant (and identical) marginal costs, an increase in the number of firms causes the market price to fall.

When more firms are competing for the same customers, each firm's market share decreases, resulting in a decrease in the market price.c) FalseFor both perfect competitors and monopolies, a firm's marginal revenue is not equal to the price of the good that the firm sells. Marginal revenue is the additional revenue that a firm generates when it sells one more unit of the product.

When a firm sells an additional unit, the price that it receives is determined by the demand curve, which means that the marginal revenue is equal to the price of the good minus the change in total revenue resulting from the sale of the additional unit. Hence, the correct statement is that the firm's marginal revenue is equal to the price of the good minus the change in total revenue resulting from the sale of the additional unit.

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Related Questions

On March 25, 2014, Patton Company sold merchandise on account,$10,000. The applicable sales tax percentage is 8.5%. Record the transaction.

Answers

Answer:

Kindly see attached picture

Explanation:

Sales tax percentage= 8.5%

Sales = 10,000

Sales tax payable = 0.085 × 10000 = 850

Accounts payable = 10000 + 850 = 10850

Kindly see attached picture for journal entry

On March 25, 2014, Patton Company sold merchandise on account,$10,000. The applicable sales tax percentage

How do professional sports and the economy interact?

Answers

Answer:

Research shows local economic growth has been generated from the presence of a professional sports team in multiple ways: the creation of new jobs, increased consumer spending, increased sales in certain market segments, and increased tax revenue. Other beneficial impacts caused by sport franchises are increased tourism from hosting large

Explanation:

Each license issued by the Commission currently expires at the end of OA. the first calendar year. OB. the second calendar year. C. the third calendar year. OD. a grace period, ending January 3 of every other year. Each license issued by the Commission currently expires at the end of OA. the first calendar year. OB. the second calendar year. C. the third calendar year. OD. a grace period, ending January 3 of every other year. Each license issued by the Commission currently expires at the end of OA. the first calendar year. OB. the second calendar year. C. the third calendar year. OD. a grace period, ending January 3 of every other year. Each license issued by the Commission currently expires at the end of OA. the first calendar year. OB. the second calendar year. C. the third calendar year. OD. a grace period, ending January 3 of every other year.

Answers

Each license issued by the Commission currently expires at the end of either the first calendar year, the second calendar year, the third calendar year, or a grace period ending January 3 of every other year.

The licenses issued by the Commission have different expiration dates. There are four options: (A) the end of the first calendar year, (B) the end of the second calendar year, (C) the end of the third calendar year, or (D) a grace period ending January 3 of every other year. This means that when a license is issued, it will remain valid until one of these expiration points is reached. If a license is issued, for example, in 2023, and it expires at the end of the first calendar year, it would be valid until December 31, 2023. Similarly, if a license expires at the end of the third calendar year, it would be valid until December 31 of the third year following its issuance. The grace period option allows for an extended period of validity, with the license expiring on January 3 of every other year.

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Table 1 contains information about the number of new business start-ups in four cities in the UK in 2016.
Using the information in Table 1, calculate, to 2 decimal places, the number of new start-ups in Birmingham as a percentage of the number of new start-ups in London. You are advised to show your workings.

Table 1 contains information about the number of new business start-ups in four cities in the UK in 2016.Using

Answers

The number of start-ups in Birningham as a percentage of the start-ups in London is 8.51%.

What are percentages?

Percentage is a measure of frequency. It is the fraction of an amount that is usually expressed as a number out of hundred. The sign used to represent percentages is %.

The number of start-ups in Birningham as a percentage of the start-ups in London = (17473 / 205320) x 100 = 8.51%

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In business, a group of people who work together in an attempt to achieve some specific purpose is known as a(n)

Answers

Answer:

Organization

Explanation:

A group of people who work together to achieve some specific purpose.

hi.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,,.,.,.,.,.,;]

Answers

Answer:

Hellllllllllllllllllllllllllllllllllllo

Explanation:

huiiiuuuuuuiiiiiiiii

How can insurance protect you from financial loss?

Answers

Answer:

Answer:Insurance policies offer protection against economic loss, that is, loss or damage which can be measured in purely financial terms and compensated by money. When you buy homeowners property insurance.

Explanation:

When you buy homeowners property insurance, for example, you are insuring only the economic value of the home, i.e., the cost to repair or rebuild it.

mom???????????????????????

Answers

mom ??????????????????????

Answer:

Go back to bed sweetie, here some fruit snacks now go to sleep.There are no monsters under your bed honey.

Explanation:

Have a great day.


3. What's considered a retail service?
A. Car engine repair
B. Car wash
C. New car
D. New car tires

Answers

The answer would be D

The correct option is D. New car tires.

New-car tires are considered a retail service.

What are examples of retail?

Retail businesses sell items or services to customers for their consumption, use, or pleasure. They typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer. Examples of retail businesses include clothing, drug, grocery, and convenience stores.

What is retail customer service?

Retail customer service is like any other customer service: it's the act of providing customers with assistance, answering their questions and helping them solve problems. However, there are some factors specific to this industry that make it important to learn and hone retail customer service skills.

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'Market management is the key element for a business' Justify this statement with an example. ​

Answers

Answer:

Explanation:

Marketing Management is the key element for a business because it enables the business to generate revenue, gain new customers, and establish the brand. It ensures that the business is profitable by analyzing and aligning the company's goals.

Depending on the industry and marketing objectives of an organization, marketing management can mean many things. As the name implies, marketing management performs managerial tasks in the field of marketing, including, but not limited to, planning and decision-making before, during, and after the execution of marketing plans.

An example of marketing management is creating an advertising plan and implementing it. Another example is the expansion of business via mergers and acquisitions.

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pls help what is a really cheap but good way to warrior cat books ( and some good ones) and whats some good ways to make money

Answers

There are several ways to purchase Warrior Cat books at an affordable price:

Some really cheap but good way to warrior cat books

Visit your local library: Libraries offer books for free or at a very low cost. You can borrow the books you want to read and return them when you're done.

Check secondhand stores: Many secondhand stores, such as Goodwill or Salvation Army, offer books at very low prices. You can often find used copies of popular books, including Warrior Cat books.

Look for online deals: Websites such as often offer used books at discounted prices. You can also search for websites that specialize in selling used books, such as Thrift books or Better World Books.

As for ways to make money, here are some suggestions:

Online surveys: There are many websites that pay you to take online surveys. While the pay is not very high, it can be a good way to earn some extra cash in your free time.

Sell items online: You can sell items that you no longer need or use on websites

Freelance work: If you have a skill such as writing, graphic design, or programming, you can offer your services on freelance websites

Participate in the gig economy: You can sign up for websites such as Uber or Lyft to offer ride-sharing services, or TaskRabbit to offer odd jobs such as cleaning or running errands.

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Jack and Martha watch two different weather stations before departing for work. One station reports a 50% chance of rain and Jack takes his umbrella to work. The other station reports a 50% chance of no rain and Martha leaves her umbrella at home. The difference decisions made by Jack and Martha can be attributed to:
A. mental accounting
B. framing
C. avoidance of regret

Answers

B. Framing
(Is the correct answer)

What are 2 ways to send a message to your client when signed in as an Accountant user? My accountant > Requests > Create client request Accountant Tools > Notes Work > Create client request Accountant Tools > Prep for taxes > Message client Books review > Transaction review > Select Transaction > Ask client

Answers

The use of Ask client and Requests are the 2 ways to send a message to your client when signed in as an Accountant user.

What is the use of QuickBooks Online Accountant?

The software is an accounting-based that is used by bookkeepers and accountants to edit client transactions, review their books, make adjustments etc.

Whe login as accountant user, one can send a message to client through use of Ask client and Requests.

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Total sales: $60,230 Rate of commission: 6% on first $40,000
7% on next $10,000;
8% on sales over $50,000
Income: ?

Answers

Answer:

1000000 wdnjdkdidhxh fdjjxifid

A seller wants to break even after the broker’s commission of 5% and loan balance of $300,000 are paid. At what price must the house sell?

Answers

At $315,789 the house must be sold after taking into consideration the broker's commission.

What do you mean by broker’s commission?

A broker’s commission is a brokerage firm employee who is compensated for the number of trades they execute for clients.

These brokers typically earn a percentage of the assets traded by their clients, which means that the more a client trades, the more money they make.

In order to calculate the selling price, we have to start with 100% minus a 5% commission, which is 95% or .95.

Take $300,000 and divide this amount by .95.

This will give the amount or the price at which we can sell the house which is $315,789.

Thus, At $315,789 the house must be sold after taking into consideration the broker's commission.

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what difference would it make to the economy if there were no money? What commodities might serve as money instead? Provide reason for your answers.

Answers

Answer:

Well, we would simply be reduced to a barter economy. Therefore we would have to trade items for items.

Explanation:

This is the way it is because "Barter" is The exchange (goods or services) for other goods or services without using money. So if we needed beef, we would have to give the person trading the beef something of ours. As for countries who want to trade, if one needs wool, and one needs iron, and country A has Iron and country B has wool They'd barter the two items.

Why is the hospitality industry considered diverse and complex?

Answers

Answer:

Because the clients and the employees are diverse and because there are major groups of hotels chains that dominate the industry.

Explanation:

To begin with, the hospitality industry is considered to be so diverse because of the wide range of clients that is it has, representing people from all over the world, the consumers of the hospitality industry tend to have very different cultures, languages, ethics and more and that is becuase the whole world is to be considered a client when it comes to this industry. Moreover, the workers of the industry tend to be from different places as well because that gives a plus to the company who receives people from everywhere.

Secondly, this industry it is considered to be complex due to the fact that most of the hotels chains are the ones that dominate the industry and therefore that one group of hotels is the one that receives the most of the clients and so on.  

The difference between a company's strategy and a company's business model is that.

Answers

The Difference between a company's strategy and a company's business model is: company's strategy  explain how a company will use the money they make and a company's business  model explain how company make their money.

Difference between a company's strategy and a company's business mode

A  company business model  tend to show how an organization or company function including how they generate revenue .

While a  company's  business strategy tend to tell what the company will use the money they make or generated for .

Inconclusion a company's strategy  explain how a company will use the money they make and a company's business  model explain how company make their money.

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Why is a U.S. savings bond considered a safe form of saving?

Answers

Explanation:

U.S. savings bonds are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government. ... They are sold at face value, so you'll pay $50 for a $50 bond. The bond is worth its full value upon redemption. The interest is issued electronically to your designated account.

A tourist tax that is restricted for use on maintenance projects in the historic downtown district should be recorded as general revenues in the governmental activities journal.

T/F

Answers

The statement "A tourist tax that is restricted for use on maintenance projects in the historic downtown district should be recorded as general revenues in the governmental activities journal." is False.

A tourist tax that is restricted for use on maintenance projects in the historic downtown district should be recorded as restricted revenues in the governmental activities journal. This is because the tax revenue is restricted by law or contract for a specific purpose, and can only be used for that purpose. Therefore, it cannot be recorded as general revenue, which is revenue that is not restricted and can be used for any purpose.

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10. Determine the break-even volume of work for a com- pany with a fixed overhead of $72,000 and a contribu- tion margin ratio of 14.0%.

Answers

The break-even volume of work for a company with a fixed overhead of $72,000 and a contribution margin ratio of 14.0% is 514,286.

To calculate the break-even volume of work, we divide the fixed overhead by the contribution margin ratio. In this case, the fixed overhead is $72,000 and the contribution margin ratio is 14.0%.

Using the formula: Break-even volume = Fixed overhead / Contribution margin ratio, we can substitute the given values to find the break-even volume.

Break-even volume = $72,000 / 0.14 = 514,286

Therefore, the company needs to produce and sell at least 514,286 units of its product or generate equivalent revenue to cover its fixed overhead costs and reach the break-even point. The break-even volume represents the level of production or sales at which the company's total costs equal its total revenue, resulting in neither profit nor loss. It is an important measure for businesses to determine the minimum volume needed to cover costs and start generating profit. In this case, the company needs to achieve a sales volume above 514,286 units to generate a profit.

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Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a _____. a. middle manager b. first-line manager c. top manager d. team leader

Answers

Answer:

a. middle manager.

Explanation:

In this scenario, Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a middle manager.

A middle manager refers to an individual who acts as an intermediary between the executive management and the employee working with the company.

Which type of decision-making approach assumes that managers are logical, that they have complete information, that they can eliminate uncertainty, and that all of the decisions they make will be in the best interests of the organization

Answers

The answer is classical decision making.

Managers have access to all information and choices under the classical decision-making approach.

The classical method is also known as the prescriptive, rational, or normative paradigm. It specifies how decisions should be made in order to achieve the desired outcome. In the classical approach, decisions are rationally determined and directed toward a single, set goal. It is employed when the decision maker has comprehensive knowledge of the problem and is aware of all feasible solutions. It is an outstanding decision-making approach. It makes sense because it is scientific, systematic, and sequential.

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(ANSWER PROVIDED) What is formal structure?

A.
Structure of legal compliance
done

B.
Structure represented by an organizational chart

C.
Relationships from people working

D.
Structure for the top executives of a company

ANSWER - B. Structure represented by an organizational chart

Answers

Explanation:

B.

Structure represented by an organizational chart

If the returns on Stock A are as follows: Year 1 return = -12 %, Year 2 return = -11%, Year 3 return = -20 %, Year 4 return = 19 %, and Year 5 return = -17 %, what is the average return for Stock A over this 5 year period? (Record your answer as a percent rounded to 1 decimal place. If your answer is negative, place a minus sign before your number with no space between the sign and the number. For example, record negative 14.284% as -14.3).

Answers

The average return for Stock A over this 5 year period is -8.2% (rounded to 1 decimal place).

Given the returns on Stock A are as follows: Year 1 return = -12 %, Year 2 return = -11%, Year 3 return = -20 %, Year 4 return = 19 %, and Year 5 return = -17 %

To find the average return for Stock A over this 5 year period, we can use the formula:Average return = (Total returns) / (Number of returns)

Now, Total returns = (-12) + (-11) + (-20) + 19 + (-17)= -41%

So, the average return for Stock A over this 5 year period isAverage return = (Total returns) / (Number of returns)= (-41) / (5)= -8.2%

Therefore, the average return for Stock A over this 5 year period is -8.2% (rounded to 1 decimal place).Note: Since the average return is negative, we can say that Stock A has not been performing well during this 5 year period.

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Which example illustrates how the internet affects place utility?

Answers

Place utility refers to the usefulness or value that a particular location or place provides to a consumer. The internet has had a significant impact on place utility by expanding the options and convenience available to consumers.

One example of how the internet affects place utility is online shopping. Before the internet, consumers had to physically go to stores to purchase goods, which limited their options to the stores available in their local area. With the internet, consumers can shop online and access a vast array of products and retailers from anywhere in the world. This expanded range of options provides greater convenience and value to consumers, regardless of their location. Another example is online education. In the past, students had to physically attend classes at a specific location, which could be inconvenient or even impossible for some students. With the internet, students can access online courses and degree programs from anywhere in the world, providing greater flexibility and convenience to learners. In both examples, the internet has expanded the options available to consumers, providing greater convenience, value, and flexibility regardless of their physical location. This illustrates how the internet has had a significant impact on place utility.

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What is money that a borrower owes a lender?
credit
O debt
O income
O loan

Answers

Answer: loan.

Explanation:

Monmouth Laboratories, Inc. pays a $3.29 dividend every year and will maintain this policy forever. What price should you pay for one share of common tock

Answers

Answer:

That is a personal choice depending on how the company is doing and how much you are likley to learn from dividends

Chris earns $50,000 income in 2019 , consumes $45,000 and saves $5,000. At the end of the year, he gets an unexpected bonus of $1149 and spends $369. What is his marginal propensity to consume? (3 decimal places)

Answers

Chris earns $50,000 income in 2019 , consumes $45,000 and saves $5,000. Chris's marginal propensity to consume is 0.321, indicating that he consumes approximately 32.1% of any additional income he receives.

Chris's marginal propensity to consume can be calculated using the formula: Marginal Propensity to Consume (MPC) = Change in Consumption / Change in Income.

Given that Chris's income increased by $1149 and his consumption increased by $369, we can determine his marginal propensity to consume.

To calculate the marginal propensity to consume (MPC), we use the formula: MPC = Change in Consumption / Change in Income. In this case, the change in consumption is $369 (the amount Chris spent from his bonus), and the change in income is $1149 (his unexpected bonus).

MPC = $369 / $1149 = 0.321

Therefore, the marginal propensity to consume is 0.321 (rounded to 3 decimal places), indicating that he consumes approximately 32.1% of any additional income he receives.

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We often see characters from Disney movies for children as toys in McDonald's happy meals. In this case, Disney has its brand to McDonald's. O trademarked licensed O re-positioned O revitalized O publicized

Answers

Disney's collaboration with McDonald's to include their characters as toys in Happy Meals is an example of a "trademarked licensed" partnership. In this situation, Disney allows McDonald's to use its characters and brand for promotional purposes, such as including toys in Happy Meals, in exchange for a licensing fee or other agreed-upon terms.

A trademarked license enables companies to expand their brand reach and generate additional revenue streams while maintaining control over their intellectual property. In this case, Disney benefits from increased exposure of its characters and brand, and McDonald's gains an attractive promotional item that can draw more customers to purchase Happy Meals.

A re-positioned, revitalized, or publicized brand refers to different marketing strategies that may not be directly related to this specific scenario. Re-positioning involves changing the brand's image or target market, revitalizing focuses on rejuvenating a declining brand, and publicizing is about promoting a brand to raise awareness. In the case of Disney and McDonald's collaboration, trademarked licensing is the most accurate term to describe their partnership.

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what is the type of energy possessed by moving water? During germination, peas sprout and grow. The data table shows the carbon dioxide produced during the germination period of peas under different conditions. Condition Rate of carbon dioxide produced (mL/min) Germinating peas, 10C 0. 01 Germinating peas, 20C 0. 02 What is the best conclusion? The rate of cellular respiration in germinating peas is exactly one thousand times the rate of ATP production. Germinating peas at 10C create carbon dioxide at a rate of 0. 01 mL/min during ATP production. Germinating peas at 20C have a higher rate of cellular respiration than germinating peas at 10C. The rate of cellular respiration cannot be measured without knowing the rate of ATP production. Read the following passage and then select the correct answer:HELP 6 POINTSSAccording to some sources, more than 30 million adult Americans are unable to read. 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