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3 years ago

Identify one advantage and two disadvantages of a monopoly.

1 answer:

5 0

A monopoly is like a patent; It's good if you own one because you can control something and be the only person who makes money off of it.
It's bad because it defeats competition between other competing companies, and prices will go up
It's even worse when you consider what would happen if a dozen people or two monopolize the whole world. Then no one else would make money
Hope this helps!

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Why do monopolies engage in price discrimination when possible? Enumerate and explain the nature of possible impediments to pric

TEA [102]

Monopolies engage in price discrimination possible because they can get away with it.

A monopoly is where only one seller sells a particular good. Because of this, the seller has the power to dictate the price of the good to the extend of giving the good the highest price possible that a consumer is willing to pay.

Consumers must pay the price of said product because they can not get the same product from any other seller.

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2 years ago

In the context of opportunity identification and selection, DuPont's discovery of Surlyn, a material with hundreds of potential

oksian1 [2.3K]

Answer: The correct answer is "B. A new resource".

Explanation: The discovery of Surlyn de DuPont, being a new material with multiple potential uses, which could be applied to the manufacture of many products would clearly fall under the category "a new resource".

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2 years ago

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Ray's Pizzeria is considering the addition of a 5th worker if this increases profit. Pizza sales increased from 300 per day to 3

Anika [276]

Answer:

60 pizzas

40 pizzas

Explanation:

Marginal product measures the change in output as a result of a change in input by one unit

Marginal product = change in output / change in input

Marginal product for the 4th worker

Change in output = 360 - 300 = 60 pizzas

Change in input = 4 - 3 = 1 worker

Marginal product = 60 / 1 = 60

Marginal product for the 5th worker

Change in output = 400 - 360 = 40 pizzas

Change in input = 5 - 4 = 1

Marginal product = 40 / 1 = 40

It can be seen that marginal product decreased from 60 to 40 when the 5th worker was added. This illustrates diminishing marginal returns.

The law of diminishing returns says as more units of a variable input is added to a fixed income of production, output might increase at a point but after some time total output would increase at a decreasing rate and marginal product would be decreasing.

6 0

2 years ago

The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What i

julsineya [31]

Answer:

Total utility is 50

Explanation:

Mathematically;

TU = U1+MU2+MU3+MU4+MU5

TU = Total utility

U1= utility of 1st product of good Y

MU2= Marginal utility of 2nd product of good Y.............

MU5= Marginal utility of 5th product of good Y

Solution:

TUy= 15+15+10+7+3

TUy= 50.

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2 years ago

Use the information below for Jensen Company to answer the question that follow. Direct materials used $345,000 Direct labor inc

AnnZ [28]

Answer:

b.$995,000

Explanation:

Jensen Company

Direct materials used $345,000

Direct labor incurred 250,000

Factory overhead incurred 400,000

Product cost $995,000

Therefore Jensen Company's product costs is $995,000

Direct materials used $345,000 + Direct labor incurred 250,000 +Factory overhead incurred 400,000 =$995,000

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2 years ago

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