What is monopoly? Explain its features and classification briefly and in simple terms

Answers

Answer 1

Answer:

One seller dominates the market in a monopoly. 

Explanation:

Monopoly is typically viewed as the opposite of perfect competition in conventional economic analysis. Market power and price control are inherent in unregulated monopolies. Among the examples would be Microsoft and Windows, DeBeers and diamonds, and your local natural gas provider.


Related Questions

The strategy of making work interesting and motivating employees by moving them from one job to another is called job:.

Answers

The strategy of making work interesting and motivating employees by moving them from one job to another is called job rotation

What is job rotation?

Job rotation is an employee management method where employees move between two or more job functions. An advantage of job rotation is that it allows employees to have more skills than they would have if they focused on only one job function.

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The difference between social cost and private cost is a measure of the:.

Answers

Answer:

cost of externality

Explanation:

Which of these careers sound interesting to you? Check all that apply.

Farmworker
Veterinarian
Animal Trainer
Agricultural Inspector
Food Scientist
Farm Equipment Mechanic
Forester
Environmental Engineer

Answers

Answer:

this is a personal question, just pick what ever you're interested on.

hope it helps.

Farmworker, veterinarian, and animal trainer all sound like interesting occupations to me. Thus, the answers (A), (B), and (C) are accurate.

What do you know about Animal Trainer?

Animal training is the process of teaching animals precise reactions to particular circumstances or stimuli. Training may be done for friendship, detection, protection, or even enjoyment.

Depending on the training technique employed and the goal for which the animal is being trained, the sort of training an animal receives will differ. A seeing-eye dog, for instance, will be trained to accomplish a different aim than a wild animal in a circus.

There are organizations that certify animal trainers in some nations. They don't have any common objectives or specifications, and they don't stop anyone from using the title or working with animals. Similar to other countries, the United States does not demand any particular accreditation from those who train animals.

The natural actions of an animal should be taken into account by an animal trainer.

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Edison Corporation's variable manufacturing overhead rate is $5.00 per direct labor-hour. Total budgeted fixed overhead is $25,000 per month. The $25,000 per month includes $7,000 in depreciation expense. Total budgeted direct labor-hours for the month of July is 20,000. Based on the month of July only, the predetermined overhead rate is $ (Enter your answer as a number rounded to 2 decimal places.)

Answers

Based on the month of July only, the predetermined overhead rate is $6.25.

Predetermined overhead rate

First step

Total budgeted manufacturing overhead =(Budgeted direct labor hours × Variable overhead rate) + Total budgeted fixed overhead

Total budgeted manufacturing overhead = (20,000 × $5) + $25,000

Total budgeted manufacturing overhead = $100,000 + $25,000

Total budgeted manufacturing overhead = $125,000

Second step

Predetermined overhead rate=Total budgeted manufacturing overhead/Total budgeted direct labor-hours

Predetermined overhead rate=$125,000/20,000

Predetermined overhead rate=6.25

Inconclusion the predetermined overhead rate is $6.25.

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Monopolistic competition has which drawback compared to a monopoly?
A. Consumers have fewer options for buying new products.
B. Companies have less capital for expensive investments.
C. Prices are more likely to be fixed at high levels.
D. Governments are more likely to regulate them.

Answers

Answer:

B. Companies have less capital for expensive investments.

Explanation:

In monopolistic competition, there are many companies that compete in the same market. Each company only has some market power, because most of that power is shared among all of the companies of the market as a whole.

For this reason, companies in monopolistic competition obtain less revenue than companies in monopoly, and this means not only less profit but also less capital for expensive investments.

Answer:

It is, in fact, indeed, most definitely, positively, B

Explanation:

One of the difficulties of finding a Coase theorem solution to the problem of flu vaccine externalities is that:___________
a) Pigouvian
b) taxes and subsidies
c) simply do not work.

Answers

The difficulties of finding a Coase theorem solution to the problem of flu vaccine externalities is that of Pigouvian.

What is Coase Theorem?

The Coase Theorem serves as one that explains the ideal economic conditions, where there is a conflict of property rights.

This conflict is one if the problem involving in finding solution to the problem of flu vaccine externalities.

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Work Survival skills include?
A. introducing new ideas, coordinating tasks, and managing groups
B. identifying problems, gathering information, and imagining alternatives
C. cooperating, providing support, and expressing feelings
D. being punctual, managing time, and enforcing policies

Answers

Answer:d

Explanation: because it is in the work place survival skills manual

hope this helps

In the Work Survival skills includes the cooperating, providing support, and expressing feelings. The correct option is (C).

What do you mean by Work survival Skills?

The ability to maintain one's life in either a built-up or a natural setting is known as survival skills.

The required skills in the work survival are:

Design thinking.Online cooperationManage cognitive burden.Digital literacyTransdisciplinary.Computation-based reasoning.Cultural sensitivity.Social awareness.Innovative and flexible thinkingPerception.

Even though they are not necessary in our modern world of support systems, survival skills will help you become a more independent person who is aware that they don't necessarily need to rely on all of our modern infrastructure systems to survive.

Therefore, in the Work Survival skills includes the cooperating, providing support, and expressing feelings.

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Businesses in the nation of Islandia have been accumulating cash because they have a pessimistic outlook of the national economy. Due to recent changes in the economic outlook of Islandia, business leaders have started investing some of their accumulated cash. Instructions: Enter your answers as a whole number. Use a positive number to show an increase and a negative number to show a decrease. a. If business leaders invest a total of $30 billion of accumulated cash, what is the maximum expected change in GDP if Islandia's marginal propensity to consume is 0.8

Answers

The maximum expected change in GDP if Islandia's marginal propensity to consume (MPC) is 0.8 is: $150 billion.

Maximum expected change in GDP

First step is to find the Multiplier

Multiplier= 1/(1 − MPC)

Multiplier = 1/(1 − 0.80)

Multiplier= 1/0.20

Multiplier=5

Second step

Maximum expected change = 5 × $30 billion

Maximum expected change = $150 billion

Inconclusion the maximum expected change in GDP if Islandia's marginal propensity to consume (MPC) is 0.8 is: $150 billion.

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Import quotas are used to help protect domestic companies from foreign competition.
True
False

Answers

True. i suppose thats what i know

So I have this thing that says that the earliest “wavier period” is October 24th which Is today so would that mean I still have time to turn it in to day?

Answers

i think that means it wasn’t available to work on until today i looked up the definition so yes you still have time

Aggregate demand refers to the relationship between :_________
A. the price level and the quantity of real GDP supplied.
B. prices and the quantity of a good demanded.
C. the price level and the quantity of real GDP demanded.
D. prices and the quantity of a good supplied.

Answers

Answer:

C

Explanation:

The higher the price level the higher the result of real GDP demanded

A transaction against a consumer's normal buying behavior can be used to do which
of the following?
Create promotional campaigns
Identify similar customer behaviors
Detect fraudulent credit card transactions
Group the customer into a different category?

Answers

Consumer behavior can be studied, transaction against a consumer's normal buying behavior can be used to identify similar customer behaviors.

What is consumer behavior?

It is the attitude of an individual, organization or group of people towards a particular goods and services.

It involves a study of this individuals and groups to know their perception of a product.

Therefore, transaction against a consumer's normal buying behavior can be used to identify similar customer behaviors.

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Answer:

Detect fraudulent credit card transactions

Explanation: I got it correct trust me

Describe the process of myelination and how it impacts information processing in childhood.

Answers

Answer:

Myelination occurs when children develop a myelin sheath, or a sheath of fatty tissue made of glial cells, around the axon of a neuron. Information processing, or the ability to process information, speeds up as a result of this process. In other words, children are able to think more quickly, which allows them to process information in complex ways as myelination occurs.

For a 13-person team, how many extra workers should be hired to meet the labor hours needed without overtime

Answers

For a 13-person team, The number of extra workers that should be hired to meet the labor hours needed without overtime is 7.

What is Labor hours?

This is a term that connote the total hours of workers that are said to be having or getting an hourly wage and they are the ones who are said to be directly employed on the site of a building, public works project, etc.

Note that "Labor hours" is one that entails hours of work that has been carried out  by workers who have been employed by the general contractor or the subcontractors  that are found to be working on the project.

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What is a country that wants to increase its gross domestic product trying to
achieve?
A. It wants to increase the value of goods and services it produces.
B. It wants to prevent its currency from gaining or losing value too
quickly.
C. It wants to reduce the number of people who can't find a job.
D. It wants to increase its economic productivity per person in the
country

Answers

Answer:

A. It wants to increase the value of goods and services it produces.

Explanation:

GDP is the total value of all commodities and services produced within the country over a  given period.  Only finished consumer goods are considered when calculating GDP. The GDP value communicates the state of a country's economy. An increase in GDP reflects growth, while a decrease suggests a recession.

When a country wants to increase the GDP value, it is thinking of increasing the value of all commodities and services produced within its boundaries. Increasing GDP is similar to expanding the economy.

Answer:

it wants to increase the value of good and services it produces

Explanation:

What skills and characteristics would an employer be looking for when hiring a person for an administrative job?.

Answers

Answer:

Explanation:

It depends on the administrative job specifically, but most administrative jobs require/want their employees to have basic computer literacy skills, organizational skills, strategic planning, scheduling skills, time-management skills, verbal and written communication skills, critical thinking skills quick-learning skills, and detail-oriented.

A company delivers packages by truck and would like to minimize the length of the route that each driver must travel in order to reach n delivery locations. The company is considering two different algorithms for determining delivery routes.
Algorithm I Generate all possible routes, compute their lengths, and then select the shortest possible route. This algorithm does not run in reasonable time.
Algorithm II Starting from an arbitrary delivery location, find the nearest visited delivery location. Continue creating the route by selecting the nearest unvisited location until all locations have been visited. This algorithm does not guarantee the shortest possible route and runs in time proportional to n2.
Which of the following best categorizes algorithm II?
A. Algorithm II attempts to use an algorithmic approach to solve an otherwise undecidable problem.
B. Algorithm II uses a heuristic approach to provide an approximate solution in reasonable time.
C. Algorithm II provides no improvement over Algorithm I because neither algorithm runs in reasonable time.
D. Algorithm II requires a much faster computer in order to provide an improvement over Algorithm I.

Answers

Answer:

Algorithm II uses a heuristic approach to provide an approximate solution in reasonable time.

Explanation:

What happens when the firm achieves the breakeven point?.

Answers

The total sales equal and correlate to the total expense when a firm achieves the breakeven point.

What is a breakeven point?

The term "breakeven point" in accounting is used in a variety of commercial and financial contexts. It is the level of output about which total production income equals entire production expenses.

This indicates that you are taking in the same amount of money as you require to meet all of your costs and manage your firm. Your firm does not make a profit or benefit when it reaches break-even and It does not also incur any loss.

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If you started a car wash service today but didn't have the funds to pay
for advertising how would you advertise?

Answers

Simply make a sign and go out on
the streets.

Martinez co. Sells a machine that cost $10,000 with accumulated depreciation of $8,000 for $2,000 cash. The entry to record this transaction will recognize a gain or loss of how much?.

Answers

Based on the book value of the machine and the cash for which the machine was sold, no gain or loss would be recognised.

What is the gain or loss on the sale of the machine?

Depreciation is the process of expensing the cost of purchasing an asset. Depreciation declines the carrying value of the machine.

A profit would be recorded if the cash the machine was sold is greater than the book value of the machine. If this is not the case, a loss would be recognised.

Book value = $10000 - $8,000 = $2000

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You swerve into the next lane and scratch another person's car. The total damages are
$1,500. According to the insurance coverage you chose, how much will insurance pay for
and how much will you pay for?

Answers

Both the Basic and Moderate policy will cover the full cost for the total damage to the car as the 2 coverage limit is more than the loss payable.

What is coverage limit?

The coverage limit means the maximum amount that a policy can pay for a loss that occurred in relation to the vehicle insured,  

Data given

Total loss amount = $1,500

Basic coverage limit = $15,000

Moderate coverage limit = $25,000

In conclusion, the Basic and Moderate policy will cover the full cost for the total damage to the car as the 2 coverage limit is more than the loss payable.

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What is the relationship between kaizen and the deliberate practice?.

Answers

The relationship between Kaizen and the deliberate practice lies on the fact that;

Deliberate practice is frustrating, uncomfortable, and most importantly painful, although it separates those who achieve from those who don’t.

Messages from Deliberate Practice

Talent is definitely not enough. Hence, Practice as characterized by hard work is the difference between good and great. Expert performance is characterized by hard work and requires repeated actions. Focus is important, In essence, break the work into manageable parts. Setting goals and perseverance is very important Generating Feedback in the moment.

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Because it takes ________ to find jobs, frictional unemployment occurs because it is a world of imperfect information.

Answers

Frictional unemployment occurs in a world of imperfect information because it takes a long time to find jobs.

What is frictional unemployment?

Frictional unemployment is the period of time a person is unemployed from the period he leaves his current job and the time he gets another job.

For example, a person leaves his job in one city and moves to another city to search for a better paying job. The period of time between leaving the job and find another job, the person is frictionally unemployed.

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Sunland Corporation had net income of $2100000 and paid dividends to common stockholders of $510000 in 2021. The weighted average number of shares outstanding in 2021 was 421000 shares. Sunland Corporation's common stock is selling for $29 per share on the NASDAQ. Sunland Corporation's payout ratio for 2021 is

Answers

The payout ratio of Sunland Corporation's for 2021 given the dividends paid and the net income is 0.24.

What is the payout ratio?

The payout ratio is the ratio of the dividends paid out to shareholders as a function of the net income of the company. It is the ratio of the dividend to net income.

Payout ratio = dividend / net income

Payout ratio = $510,000 / $2,100,000 = 0.24

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1.different types of socialization?​

Answers

Answer:

Primary and secondary

Explanation:

Generally there are 5 types of socialisation.

1. Primary

2. Secondary

3.Anticipatory

4. Development

5. Resocialisation.

But the common are primary and secondary

Primary socialization
This type of socialization happens when a child learns the values, norms and behaviors that should be displayed in order to live accordingly to a specific culture.
Example: A child hears his father talk bad words against an old lady. The child would think that this behavior is socially acceptable, so he would start talking bad words against older people.

Secondary socialization
This type of socialization occurs when a person learns an appropriate behavior to be displayed within a smaller group which is still part of a larger society. The changes within the values, attitudes and beliefs of an individual are seen to be less important than the changes made in him as he participates in the larger society.
Example: A high school graduate chooses a career in Business Management after participating in a small group career seminar led by college business majors.

Developmental socialization
This type of socialization involves a learning process wherein the focus in on developing our social skills.
Example: A shy senior high school student starts to teach English to new freshmen students in order to develop verbal communication.

Anticipatory socialization
This type of socialization refers to the process wherein a person practices or rehearses for future social relationships.
Example: A child anticipates parenthood as he observes his parents perform their daily roles.

Resocialization
This type of socialization involves rejecting previous behavior patterns and accepting new ones so the individual can shift from one part of his life to another. Resocialization is said to be happening throughout human life cycle.

If for a firm MRP > MFC, then the firm:______.
a. is maximizing profits and should continue producing its current output.
b. should produce less output by decreasing the quantity of factors employed.
c. should produce more output by increasing the quantity of factors employed.
d. is minimizing factor costs and therefore is maximizing profits.

Answers

Answer:

b

Explanation:

because this should be mfc and I see to book the mrp and I see the answer ty

hope it's helps make me brainless tyy

why is the sun cold how can my fish walk and why does my dog talk

Answers

Answer:

bro what ???

Explanation:

the sun is cold because is out in space(space=cold)

What happens when the price of a good increases? The quantity of goods that are produced increases. The producer of the good is certain to make less money. The quantity of goods that are produced decreases. The quantity of goods that are produced stays about the sam

Answers

Because due to increase in the price of the product the consumer demand for this product decreases.

Why does supplier competition make it harder for an entrepreneur to be successful

Answers

Answer:

because the supplier is already supplying sellers with what the entrepreneur is supposed to be selling and if more people are going to the other suppliers than no one will buy it from the entrepreneur because they can get it from suppliers

Explanation:

sorry if its wrong!

Its gives other entrepreneur advantage over the entrepreneur in question.

Suppliers encompasses people who supplies raw materials, finished goods to the users which can be an organisation or an entrepreneur.

Now, when there is competition, people tends to approach suppliers whose goods are cheaper. This gives some entrepreneur advantage over others because they sells at price at lower than their competitors.

A typical example is when a supplier prefers to supply goods to an entrepreneur in an axis based on previous relationship. Other entrepreneur may suffers because they might get the product at higher price from another supplier

In conclusion, if  price ceiling are employed, it will make uniform the price at the all suppliers will sell their goods to entrepreneur, hence, no entrepreneur will at higher advantage than others

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Michelle runs a shop on etsy. One month, she spends $2,800 to promote her shop on etsy and other social media sites. In that month, she gains 50 new customers. All customers purchased products that cost $100, that were marked up 100 percent. What is the actual amount of revenue earned per customer, taking into account materials and promotional costs?.

Answers

The actual amount of revenue earned per customer, taking into account materials and promotional costs is -$6.

Actual amount of revenue

First step is to find the customer acquisiton cost

Customer acquisition cost=Amount spent/Number of new customers

Customer acquisition cost=$2,800/50 customers

Customer acquisition cost=$56

Second step is to calculate the amount of revenue

Amount of revenue=$50-$56

Amount of revenue=-$6

Inconclusion the actual amount of revenue earned per customer, taking into account materials and promotional costs is -$6.

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