(a) the market would reach equilibrium at a price of $3,000 and a quantity of 10,000 the intersection of the demand, marginal cost curves, where quantity supplied equals the quantity demanded.
(b) If there were only one supplier of diamonds, what would be the price and quantity?(b) If there were only one supplier of diamonds, the supplier would have a monopoly and would set the price at the profit-maximizing level, which is the price where marginal revenue equals marginal cost. In this case, that would be $3,000 per diamond, as at this price, the quantity demanded would equal the quantity supplied. The quantity would be 10,000.
What would happen to South Africa's profit if it increased its production by 1,000 while Russia stuck to the cartel agreement?(c) If Russia and South Africa formed a cartel, they would collude to set a higher price, such as $6,000, in order to increase their profits. The quantity would decrease to 7,000. If the countries split the market evenly, South Africa would produce and sell 3,500 diamonds, earning a profit of $3,500,000 (3,500 x $1,000). If South Africa increases its production by 1,000 while Russia sticks to the cartel agreement, South Africa's profit would decrease to $2,000,000 (2,500 x $1,000) as it would have to sell the additional diamonds at the cartel price, earning only $6,000 per diamond instead of $1,000.
Use your answers to part (c) to explain why cartel agreements are often not successful.(d) Cartel agreements are often not successful because members have incentives to cheat on the agreement by increasing production to capture a larger share of the market. This can lead to a decrease in the overall price and profits for all members, as seen in the example above with South Africa increasing production. Additionally, new entrants may enter the market, breaking the cartel's control over the market. Furthermore, governments often intervene to prevent the formation of cartels or to break them up, as they can lead to higher prices for consumers and can restrict competition in the market.
Learn more about Market here:
brainly.com/question/17284274
#SPJ4
What is the main effect of increasing opportunity costs ?
The law of increasing opportunity cost is depicted by the curved frontier line, which states that an increase in production of one good results in an increase in losses for the other good.
Why is it important to raise opportunity costs?In economics and business, the law of increasing opportunity costs is important because it explains the dangers of going completely non-productive. Since decisions about how to best allocate limited resources will always be made, there will always be opportunity costs.
How significant is opportunity cost to a business?
It assists businesses in allocating more resources toward the production of goods and services with the highest contribution margin (profit). It assists the government in selecting the appropriate project for which it gradually expands its resources.
How do trades result from opportunity costs?The key to international trade is opportunity cost, which is reflected in comparative advantage. If we are able to obtain a good from another nation with fewer sacrifices than we would have to make to obtain it domestically, trade benefits us.
Learn more about opportunity cost:
brainly.com/question/8128193
#SPJ4
suppose you make jewelry. if the price of gold falls, then we would expect you to _____
Let's say you create jewellery. We would anticipate that you will experience higher demand for your jewellery if the price of gold drops. b. see a decline in jewellery demand.
Why is jewelry so special?
Even if jewellery is more than simply a superficial fashion statement, it nevertheless allows us to decorate ourselves with something lovely and priceless. Jewelry can make us feel good about ourselves, improve our mood, and provide us a means to show our individual sense of style. For these reasons, we are adamant that jewellery is a traditional and enduring present. A meaningful jewellery collection may enrich the lives of you and your family in ways that go far beyond just material goods.
Know more about demand visit:
https://brainly.com/question/29703449
#SPJ4
TRUE OR FALSE it is important for project managers to understand that every cost estimate is unique.
Answer:
True
Explanation:
It is important for project managers to understand that every cost estimate is unique. Determining the budget involves allocating the project cost estimate to individual work items over time. The project management plan and project funding requirements are inputs of the process of controlling costs.
In the sentence Our company will be hiring 50 new employees, the words will be hiring are a(n) ____.
The words will be hiring are a(n) VERB PHRASE in the sentence Our organisation will be hiring 50 new staff.
A short adverb, such as also, never, or not, might attempt to squeak in between the components since a verb phrase may contain up to four words. Adverbs that are nestled within verb phrases are still adverbs and do not form a part of the verb. A verb, a primary verb following a modal, or one or more auxiliaries make up a verb phrase or verbal phrase. In a verb phrase, the main verb is always placed last.
To learn more on verb phrase, visit:
https://brainly.com/question/9174956
#SPJ4
Iris Rosales is an unmarried college student age 21, and is claimed as a dependent on her married parents' tax return. What is the maximum number of personal exemptions Iris can legally claim on her own tax return
Zero is the maximum number of personal exemptions Iris can legally claim on her own tax return ,
Individuals may file an amended tax return (Form 1040X) within three (3) years of the original return's filing date or within two (2) years of the date the tax was paid, whichever is later. An original return filed early is considered filed on the return's due date.
Funeral or burial expenses, nonprescription drugs, toothpaste, toiletries, cosmetics, a trip or program for general health improvement, or most cosmetic surgery are not deductible. You cannot deduct money spent on nicotine gum or patches that do not require a prescription.
Learn more about to tax return
https://brainly.com/question/21214035
#SPJ4
Determining the most socially desirable level of income equality or inequality Group of answer choices is done directly by firms involves evaluation of public goods involves evaluation of all externalities, both positive and negative is done through markets, rather than by government involves normative economics
Determining the most socially desirable level of income equality or inequality is an issue involving normative economics.
What is income equality?Income equality is the concept of economic equality, where individuals within a society or group have the same amount of income or wealth. It is the opposite of income inequality, where some individuals have greater income or wealth than others.
It requires making a judgment about what is right or wrong, good or bad, when it comes to income distribution. This is usually done through markets, rather than by government, as markets are better equipped to take into account externalities, both positive and negative, and public goods. Ultimately, the decision about the most socially desirable level of income equality or inequality is done directly by firms, based on their own evaluation of the situation.
To learn more about income equality
https://brainly.com/question/7333881
#SPJ4
Why is it important to prioritize expenses?
You may take care of fundamental needs, safeguard your credit, and lessen your financial stress by ranking your invoices and spending in order of importance.
What causes conflict over money?Financial stress is the term used to describe emotional tension that is mostly related to money. Anyone can experience financial stress, but low-income households may experience it more frequently than others. 2 Stress might result from not being able to pay for necessities like rent, bills, and groceries.
How does financial stress feel?Your sleeping, self-esteem, your energy levels may suffer if you feel defeated by money problems. It can intensify pain and mood fluctuations, leaving you feeling furious, ashamed, or afraid, lead to tension and disagreements with those close to you, and even raise your chance of developing melancholy and anxiety.
To know more about financial stress visit:
https://brainly.com/question/29641948
#SPJ4
to break even, a business must ________.
To break even, a business must generate enough revenue to cover its expenses
This means that the revenue earned from sales or services must be equal to the cost of producing and delivering those goods or services, as well as any overhead costs such as rent, utilities, and employee salaries. When a business is breaking even, it is not making a profit but it is not incurring a loss either. This means that the revenue earned from sales or services must be equal to the total expenses of the business. When a business is breaking even, it is not making a profit but it is also not incurring a loss.
Know more about revenue - https://brainly.com/question/28326482
#SPJ4
Immersion in water or fire as a result of a crash happens in less than ______ of all crashes annually.
In Florida or the United States as a whole, fewer than 1% of all car incidents result in fire or submersion in water. For people aged 4 to 33, the primary cause of death is cardiovascular disease.
What kind of car accident occurs most frequently?The most frequent kind of collisions are rear-end collisions. The NHTSA claims that rear-end crashes take place when one vehicle hits the back of another vehicle, as the term implies.
How may an automobile accident be explained?What details should I include in my account of my car accident? Don't guess on anything and stick to just giving the facts as you remember them, including what the other motorist was doing at the time of the impact.
To know more about submersion in water visit :-
https://brainly.com/question/12206728
#SPJ4
The three elements of the marketing concept are __________.
a. Market share, customer needs, marketing mix
b. Customer needs, company goals, profits
c. Channel management, customer needs, profits
d. Planning, target market, social media marketing
Answer:
B. Customer needs, company goals, profits
Explanation:
Why does the demand line for the individual firm in perfect competition also equal the marginal revenue
It is so because no company can influence the market price; as a result, the market price is the additional revenue brought in by producing an additional unit. As a result, each firm encounters a completely elastic demand curve.
Why does demand in a market with perfect competition equal marginal profit?No matter how many units are sold, the market price is always added to the total income, therefore in a completely competitive market, price always equals marginal revenue.
In an ideal market, does demand equal marginal revenue?As a result, the pricing for each sold unit will remain the same. The marginal revenue that the company earns is the difference in total revenue from selling one additional unit at the same market price.
To know more about marginal revenue visit:-
https://brainly.com/question/25404320
#SPJ4
Which one of the following is an immediate benefit of just in time (JIT) stock control?
Improved customer service
Higher market share
Improved availability of stock
Lower warehousing costs
Give the Three Types of plans and define each concisely?
There are 3 types of Business Plans :
1. Operational Planning
This kind of planning often outlines how the business is run on a daily basis. Operational plans are frequently referred to as ongoing or single-use plans. Plans for one-time events and activities are called single usage plans (such as a single marketing campaign). Ongoing plans comprise policies for tackling issues, rules for particular laws, and procedures for a step-by-step process for achieving specified goals.2. Strategic Planning
A high-level perspective of the entire company is a component of strategic planning. It serves as the organization's fundamental framework and will guide long-term choices. The time frame for strategic planning can range from the subsequent two years to the following ten years. A strategic plan should include a vision, purpose, and values statement.3. Tactical Planning
Strategic planning is aided by tactical planning. It outlines the organization's intended strategies and methods for achieving the goals set forth in the strategic plan. The scope usually has a time frame of less than a year and divides the strategic plan into manageable parts. Operational plans ask how the organisation will typically carry out something in order to achieve the organization's objective, whereas tactical plans ask specific questions about what has to happen in order to achieve a strategic goal.how did innovations in industry, transportation, and communications affect the nature of work in American society
The early-nineteenth-century economic development of America was related to substantial changes in transportation networks. The construction of roads, canals, and railroads expanded markets, increased people'sWhat is the importance of mobility, and transformed the physical environment.
What is the importance of industry, transportation, and communications in American society?The industry is a significant source of new employment growth. Despite the country's economic crisis, with the industry suffering the most, it continues to play a vital part in the country's growth.For millions of Americans, it is a lifeline that connects them to people, places, and opportunities. It also helps to develop vibrant communities, jobs reduce transportation congestion, and promote a cleaner environment. Investment in public transportation benefits both the local and national economies.It is necessary to communicate in order to express oneself. It also meets one's requirements. To develop in one's job, excellent communication is required. Effective communication skills may help you understand people and be understood in your daily life by easing your path and interactions with others.To learn more about communication, click
https://brainly.com/question/22558440
#SPJ4
What is the most important factor you usually consider when buying something?
The most important and first on this list is the profitable Factor. This bone is the main foundation of any purchasing decision. The reason is simple people can not buy what they can not go.
The need for a product also does not play a part then, but affordability is the most important thing. Price. Before you buy anything, take a good look at the cost. You might be considering buying a high-quality tinge or CBD product.
However, if that is the case, you are willing to spend a little further plutocrat to get what you know is a great item. A client is girdled by four profitable factors when considering any purchase the product, the price, the creation and the deals channel.
To learn more about profitable factor, visit here
https://brainly.com/question/29795554
#SPJ4
you decide to group employees based on the activities they do, and separate your online employees from your retail store employees. what basis for grouping employees will you use
The correct answer is Hierarchical Structure. Larger corporations and organisations frequently have hierarchical organisational structures.
Larger corporations and organisations frequently have hierarchical organisational structures. It depends on the organization's management levels being at various degrees of authority, connected via a chain of command. In most cases, official decision-making occurs from the top down. For instance, on a bigger scale, a forest is made up of cells that create leaves, branches that make up limbs, and lastly, individual trees. We take into account all levels of organisation, from individual cells to the composite forest, to comprehend a forest.
To learn more about Hierarchical Structure click the link below:
brainly.com/question/24232447
#SPJ4
Cecily is a member of an LLC that's selling some property, and Cecily is the listing agent. What must she make sure to do
As the listing agent, Cecily must make sure to disclose all known material facts about the property to potential buyers.
This includes any defects or issues with the property, as well as any potential zoning changes or other factors that may impact the property's value. Cecily must also ensure that all required legal documents and disclosures are provided to buyers in a timely manner.
Additionally, Cecily must be honest and transparent in her communication with buyers and must avoid making any false or misleading statements about the property.
Cecily should also be aware of the state laws and regulations regarding property selling and make sure to comply with them.
To learn more about Selling property,
https://brainly.com/question/28186715
#SPJ4
What extra qualifications are required for a broker's application of a community association manager
The applicant for a broker's application of a community association manager must finish an additional 75 hours of approved courses.
What is a broker's obligation in an agency relationship?All of the obligations a real estate agent or broker has in their relationship with a client are known as fiduciary duties. The abbreviation OLDCAR can be used to condense these obligations, which are all in the client's best interest: obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care.
What are the three elements of brokerage success?The commercial real estate industry depends on timing, insider knowledge, and significant relationships. Being in the right location at the right time, knowing the right people, and possessing knowledge are the three requirements for success.
To know more about community association visit:-
https://brainly.com/question/14435438
#SPJ4
what are the three reporting agencies that provide free credit reports to consumers?
Equifax, TransUnion, and Experian are the three credit reporting organizations that offer free credit reports to consumers.
What purposes do credit card reports serve?A lender's decision to grant you credit or approve a loan is influenced by your credit report. Additionally, the reports influence the interest rate they will impose on you. Renters, insurers, and employers may also check your credit report. When a lender or employer checks your credit, you won't know which credit report is being used.
Information for your credit reports is gathered and kept up to date by credit reporting agencies (CRAs). Since each CRA keeps its own records, it's possible that some of your accounts may not be covered by their records. No organization is more significant than the others, notwithstanding discrepancies in their reports. Moreover, each agency's information
To know more CRA visit: https://brainly.com/question/27995693
#SPJ4
When the supply of workers is plentiful, one would predict that market wages would be a. low, other things equal. b. determined solely by factors that affect demand. c. determined outside the domain of economic theory. d. high, other things equal. N
When there is a plentiful supply of workers, one would expect market wages to be option a. low, all else being equal.
Which is the best option for someone who wants to pursue a career with a relatively high earning potential?If someone is looking for a career with a relatively high earning potential, "a career with a relatively low supply and high demand for workers" is the best option. Because there is a limited supply of a specific job and a high demand for workers, competition can be fierce, resulting in relatively high earnings. Because of the high wages, supply wages tend to rise, and more workers enter the industry of that occupation.
The concept of labor demand is a topic that states that the amount of labor demand that an economy is willing to employ at a given point in time.According to the concept of labor supply, it is the number of workers willing to take a specific job.To know more about wages visit:
https://brainly.com/question/9897240
#SPJ4
Vertical integration has served to increase the negotiating power of farmers and ranchers.
True
False
The given statement "Vertical integration has served to increase the negotiating power of farmers and ranchers." False because one firm controls numerous stages of the transaction. Option B
What is "Vertical integration"?Generally, In business parlance, the term "vertical integration" refers to the practice of one firm owning various stages of the manufacturing and distribution of another company's good or service.
In the context of the agricultural industry, this would refer to a firm that controlled everything from the cultivation of seeds to their distribution via retail outlets.
This may lead to a concentration of power in the hands of a few major firms, which in turn can reduce the bargaining power of farmers and ranchers since there may be fewer customers for the items they produce.
Read more about vertical integration
https://brainly.com/question/13962641
#SPJ1
What are 3 major differences between credit unions and banks?
Credit unions, which are member-owned and cooperative organisations, offer a secure environment for saving and borrowing money at fair rates. Whereas bank, a business that deals with money and its alternatives as well as other financial services.
1. Ownership Structure: Credit unions are owned and operated by their members, while banks are owned by investors.
2. Profit Margins: Credit unions are not-for-profit organizations while banks are for-profit organizations.
3. Services Offered: Credit unions tend to offer fewer services than banks, such as fewer loan types and fewer investment options.
To know more about credit here
https://brainly.com/question/29796455
#SPJ4
a.) A bond is initially bought for $250. It doubles in value every decade. How many decades does it take before the bond is worth more than $10,000
The correct answer is It will take 6 decades does it take before the bond is worth more than $10,000.
Monthly interest is accumulated and compounded every two years. BONDS OF SERIES I ISSUED IN SEPTEMBER 1998 AND SUBSEQUENTLY All Series I bonds mature 30 years after issuance.
Bond valuation formula: Price=(Coupon1+(1+r)nr)+Par Value(1+r)n) Price = (1 + r) n + (Coupon n) n Par Value;
We simply need to determine the current value of the face value in order to determine the value of a zero-coupon bond. Using the previous example as a guide, a bond with a face value of $1,000, a yield to maturity of 3%, and a maturity date of 2 years would be worth $1,000 / (1.03), or $942.59.
To learn more about bond click the link below:
brainly.com/question/17405470
#SPJ4
according to the classical growth model, an economy that increases its saving will grow _____
During the Industrial Revolution, (mainly British) economists created the classical growth hypothesis. According to the classic growth theory, economic growth results from capital accumulation and the reinvestment of specialization-related gains.
Whats is the meaning of hypothesis?
A hypothesis is something that is neither an established theory nor a wild guess. Before a hypothesis can be called a theory in science, it must undergo extensive testing. The term is used much more liberally outside of science. A mother may have a theory about who spilled juice on the carpeting, just as a detective may have one concerning a crime. Anyone using the word hypothesis is speculating.
Know more about specialization visit:
https://brainly.com/question/28332563
#SPJ4
You are a project manager for Johnson Keyboards, Inc. Your organization has adapted the PMBOK Guide as a standard tool for how projects should operate, and you are involved in shaping the standardization for all future projects. In light of this information, what is the recommended course of action for the processes and procedures in the PMBOK Guide
The recommended course of action is that the PMBOK guide is not required by all projects.
The Project Management Body of Knowledge (PMBOK), published by the Project Management Institute (PMI), is a book that lists accepted terms, best practices, and procedural rules for project management. Project management is the practice of starting, planning, carrying out, controlling, and wrapping up a team's work to accomplish specific goals and success standards.
It takes the application of information, skills, tools, and processes to project activities in order to meet the project's requirements. In the given case, the project manager for Johnson Keyboards, Inc must understand that not all processes and procedures in the PMBOK guide are required on all projects. Thus, further decisions on the project must be taken on this basis only.
Read more about the PMBOK guide on:
https://brainly.com/question/14564326
#SPJ4
A closed shop agreement, which is illegal today, is an extreme example of a(n) ________ that ensured all workers who benefited from the union paid union dues.
An extreme example of a (n) union security clause that ensured that all workers who benefited from the union paid union dues is a closed shop agreement, which is currently illegal.
Which term refers to a security arrangement between unions?Store closed. arrangement for union security that requires union membership before hiring; Against the National Labor Relations Act's provisions. Negotiating together.
What is the most straightforward form of union security?the most basic form of union protection. A type of union in which employees are required to keep their union membership throughout their employment and that employers are only allowed to hire workers who are already members of a particular union.
To learn more about union security clause here:
https://brainly.com/question/28872574
#SPJ4
James creates a trust to hold a piece of real estate he owns. He directs a corporate fiduciary to hold title to the real estate and provides instructions for the management, control, and disposition of the real estate upon his death. Given that the trust only holds real estate, James likely set up a(n) ______ trust.
James most likely set up a (n) the grantor trust, which solely holds real estate.
Who holds legal title when an estate is held in a trust?Who is the legal owner of an estate when it is held in a trust? (In an estate in trust, the grantor (or trustor) transfers legal ownership to a fiduciary (the trustee), who holds and administers the estate for the benefit of another party (the beneficiary).
The trustee of a land trust must either renew the trust's term or sell the property when it expires.The trustee must sell the property and provide the beneficiary the proceeds when the land trust period expires, or else it must be extended. It is possible to transfer a beneficiary interest in the property without.
To know more about trustee visit:-
https://brainly.com/question/28115772
#SPJ4
What is loan repayment What are the benefits of repaying loan in time?
The act of repaying a lender for money borrowed is called repayment. The loan agreement, which also specifies the agreed-upon interest rate, contains information about the loan's repayment terms.
What is the interest rate?The cost a company charges a borrower is known as something of a risk premium, and it is specified as a % of the principal, and or amount loaned. The annual percentage rate, called APR, is typically used to express the interest rate on a loan.
What do you mean when you say the interest paid?The interest levied is a percentage applied to the principal sum. People choose to save their money in a high bond yields economy because they get more from the interest rate.
To know more about interest rate visit:
https://brainly.com/question/13324776
#SPJ4
Knowledge management (km) benefits organizations because it ________.
- A) Allows distributors to work within the company premises
- B) Enables suppliers to work according to the organizational policies
- C) Enables customers to provide bulk feedback
- D) Enables employees and partners to work smarter
Knowledge management (km) benefits organizations because it Enables employees and partners to work smarter and more efficiently.
What is Knowlwdge Management?
Knowledge Management is the practice of capturing, organizing, and sharing an organization's collective knowledge within its workforce. It involves the management of both tacit (unwritten) and explicit (written) knowledge, including information, data, insights, ideas, and processes. The goal of Knowledge Management is to ensure that the right knowledge is available to the right people at the right time, resulting in improved decision-making and performance.
What is Data?
Data is information that can be processed and analyzed to draw conclusions or make decisions. It can be structured or unstructured, and can come from a variety of sources, including databases, surveys, interviews, and observations. Data can be qualitative or quantitative, and is often used to inform decisions in a variety of fields.
Therfore the correct option is D. Enables employees and partners to work smarter.
To know more about Knowlwdge Management,
https://brainly.com/question/5042506
#SPJ4
Which of the following is a reason for a company to announce a stock split?
a) To reward investors
b) To increase total stockholders' equity
c) To decrease the market price at which the stock is trading
d) To provide the shareholders with something of value, when the company cannot afford a cash dividend
Answer:
c to decrease total stockholders equalt
Explanation:
because it is