Consider A Firm Who Created A Product And Applied For A Patent. This Patent Is Now About To Expire And It Is Expected Quite A Number Of Additional Firms Will Begin To Produce A Variation Of This Good. A. Describe In Detail What The Original (With Patent) And New (Without Patent) Market Structures Will Look Like. B. Explain Whether It’s True, False Or Consider a firm who created a product and applied for a patent. This patent is now about to expire and it is expected quite a number of additional firms will begin to produce a variation of this good.a. Describe in detail what the original (with patent) and new (without patent) market structures will look like.b. Explain whether it’s true, false or uncertain that the increase in competition will lead to zero profits for the firms and a better outcome for the consumers and the market.
Answers
a. The original market structure, when the firm had the patent, would likely be a monopoly or oligopoly, depending on the number of competing firms in the market.
The patent granted the firm exclusive rights to produce and sell the product, giving them significant market power and the ability to set prices. There may be limited competition or even a lack of substitutes for the product during this period.
Once the patent expires, the market structure is likely to shift towards perfect competition or monopolistic competition. With the expiration of the patent, other firms can enter the market and produce variations of the product. This increased competition will lead to a larger number of sellers, more product options, and potentially lower prices for consumers. The market will become more competitive as firms vie for market share and differentiate their products to attract customers.
b. It is uncertain whether the increase in competition will lead to zero profits for the firms and a better outcome for consumers and the market. In perfect competition, firms may earn only normal profits, where total revenue equals total costs, but not necessarily zero profits. In monopolistic competition, firms can differentiate their products, which allows for some degree of market power and the potential for positive profits.
The outcome for consumers and the market will depend on various factors such as the level of product differentiation, brand loyalty, and the ability of firms to innovate and create value. Increased competition can lead to lower prices and greater consumer choice, but it does not guarantee a better outcome for consumers and the market in all cases. Other market dynamics and factors can influence the overall outcome
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Related Questions
You have been requested to develop an online shopping mall with the following characteristics:
The CEO of a company plans to build an online shopping mall. Main users of the online shopping mall are
CEO, staff, and customers. All users must be registered to the online shopping mall. Customers can select
items from the online shopping mall and store them into wish list. However, for items that are sold out,
customers cannot add them in the wish list. Customers can remove items from the wish list. Customers can
pay by credit or debit card. Once purchase has been made, the system sends receipt to customer’s registered
email. Customers can send messages to staff using chat service in the shopping mall and Staff must reply
to unread messages.
Staff is responsible of refilling inventories of items being sold in the online shopping mall. Staff uploads or
remove items sold in the online shopping mall as well. Staff can write / modify item information. Staff has
access to customer personal/payment information to provide answers from customers.
The system generates a daily summary report at 9 pm every business day and a monthly report at the end
of each month. The report shows the information of company’s sale for a day or a month. The report
contains each products name, number of items sold in a day. The monthly report is a summary of daily
reports for a month. The daily and monthly reports are stored in the system so that the CEO looks at them
any time.
• Develop the static model for the online shopping mall, which depicts the classes and their
relationships. A class can be classified as a boundary class, entity class, control class, or
application logic class. Define the attributes of each entity class.
• Develop the communication model depicting objects participating in each use case and the
sequence of interactions among the objects. A use case is modeled using a communication
diagram.
Answers
Online Shopping Mall: Users (CEO, Staff, Customer), Items (Inventory), Payments, Communication (Chat), Reports, Receipts.
In the static model for the online shopping mall, we can identify the following classes and their relationships:
Boundary Classes:
CEO: Represents the CEO of the company, who is the main user of the system.
Staff: Represents the staff members who manage the inventory and interact with customers.
Customer: Represents the customers who use the online shopping mall.
Entity Classes:
Item: Represents the products available for purchase in the online shopping mall. It has attributes such as name, quantity, price, and availability status.
WishList: Represents the collection of items selected by the customer. It has a relationship with the Customer class.
Payment: Represents the payment details of a customer. It includes attributes like credit/debit card information.
Receipt: Represents the receipt generated after a successful purchase. It includes attributes like purchase details and customer email.
Control Classes:
InventoryManager: Manages the inventory by adding/removing items and updating their information.
ChatService: Handles the communication between customers and staff through the chat service.
PaymentProcessor: Processes the payment transactions made by customers.
EmailService: Sends the receipt to the customer's registered email.
Application Logic Classes:
ReportGenerator: Generates daily and monthly reports of the company's sales. It has a relationship with the Item class to retrieve sales information.
In the communication model, we can depict the objects participating in each use case and the sequence of interactions among them using a communication diagram. The diagram would include objects such as CEO, Staff, Customer, InventoryManager, ChatService, PaymentProcessor, EmailService, and ReportGenerator. The interactions among these objects would represent actions like customer adding/removing items from the wishlist, making payments, sending messages, generating reports, and sending receipts.
Note: It's important to note that the given description provides a high-level overview of the system. The actual implementation may involve additional classes, methods, and attributes based on specific requirements and design considerations.
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Which is the first step in setting a financial goal?
a. setting aside leftover income
b. reducing your spending
c. tracking your spending
d. starting a second source of income
Answers
Answer:
All four actually.
Explanation:
In order to reach a financial goal you need to:
1. Save Money
2. Set and manage a budget (usually a monthly budget listing all your known expenses works)
3. Track your spending, and keep managing your budget.
4. Reduce your spending. If you are trying to reach a goal, a great line of thinking is “Only buy what you Need, Not what you Want”
5. If you are trying to reach a set financial goal quickly, then yes, it makes sense to find a secondary source of income, such as a part time job, or start a selling site on EBay, for items you don’t use anymore, etc.
Answer: B. reduce your spending.
Explanation: by not spending money this will allow you to save money for your financial goal.
i need help!!!!!!!!!!!!!!!!!!!!!!!!!!
Answers
Which of these are benefits of a job as the term is used in this lesson? (1
O a high hourly wage
O an office in a great neighborhood
O working for a good cause
O a 401(k) plan
Answers
Answer:
high Hourly wage
Explanation:
Answer:
D. a 401(k) plan
Explanation:
In general, a decrease in consumer income will have what effect on demand for normal goods?.
Answers
Income and demand for common commodities are tightly correlated, which means that as income rises, demand will follow suit and vice versa if income falls.
How does the demand for everyday commodities depend on consumer income?
A typical good is one whose demand rises as a result of an increase in consumer income. In other words, as earnings rise, so does demand for typical commodities; conversely, when wages fall or employment decreases, so does demand.
Do common goods decline when income falls?
A good whose demand increases as a result of an increase in pay, such as when a person's income increases, is referred to as a normal good. Contrarily, when income falls, as it can due to a wage cut or a layoff, the demand for regular items reduces.
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the corporate office has determined that the company vision needs to be amended. what should corporate leaders do to increase the likelihood that employees will accept this change?
Answers
To increase the likelihood that employees will accept the amendment of the company vision, corporate leaders should consider steps like Communication,Involvement,Training,Lead by example,Celebrate successes.
A corporate leader is a company's senior executive. Together with other executives, they can assess the business's performance, develop and implement rules for all employees, and Explain the changes' justifications and how they fit with the organization's values and objectives in a straightforward and open manner. Encourage employee participation and give them the chance to provide suggestions and ask questions.
To assist staff members in comprehending and internalising the new vision, provide training and resources.
Lead by example: Set a good example for your team by acting in a way that aligns with the attitudes and principles that the new vision demands.
Celebrate accomplishments: Emphasize and rejoice in the achievements brought about by the realisation of the new vision.
Corporate executives can raise the possibility that staff members will accept and support the modification of the business vision by adopting these actions.
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Federal reserve policies have led to an increase in the real gdp. what action did the fed probably take on interest paid on required and excess reserves to achieve this?
Answers
If the Federal Reserve policies have led to an increase in the real GDP, it is likely that they have taken action to reduce the interest paid on excess reserves to encourage banks to lend out more money and stimulate economic activity.
When the Fed lowers the interest rate on excess reserves, it makes it less attractive for banks to hold onto excess reserves, and more attractive for them to lend out that money to businesses and consumers. This increased lending activity can lead to an increase in economic growth and real GDP.
However, it's important to note that the Fed's monetary policy decisions are complex and involve a range of tools and strategies, not just the interest rate on excess reserves.
Other factors, such as the federal funds rate, open market operations, and reserve requirements, can also impact the economy and real GDP.
By adjusting interest rates, the Fed can influence the overall health of the economy and help to achieve its policy goals.
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7. Solve this two step equation:
3 x 5 – 7 = y
Answers
Answer:
y=8
Explanation:
15-7=y
8=y
y=8
Answer:
its 8
Explanation:
if u do 3 times 5 its 15, if u do 15-7 which equal 8 or y so y=8
Part I: If the statement is correct write "True" or otherwise "False" (0.5 point each)
1. Inventories are asset items held not for sale in the ordinary course of business
2. Ending inventory is the cost of merchandise on hand at the end of the accounting period
3. A balance sheet is a financial statement that lists all assets, liabilities and capitals of an organization on a specific date.
4. FIFO method is of assigning cost assumes that the most recent purchases are sold first
5. Retail Method of Inventory costing is made based on the relationship between the cost and the retail price of merchandises available for sale. 6. Gross profit refers to the amount of income that an organization earns from selling of items after deducting their cost.
7. Tangible assets are assets without a physical feature that can be charged in the operations of businesses for long period of time.
8. The term Depreciation is used to describe the gradual conversion of the cost of the asset into an expense.
9. A betterment is an improvement that can be add to the physical layout of the asset.
10. The allocation of intangible assets to the periods they benefits is called amortization.
Answers
2) True
3) True
4) True
5) True
6) False
7) False
8) True
9) True
10) True
2. True
3. True
4. False
5. True
6. True
7. False
8. True
9. True
10. True
Which of the following terms refers to the broadest measure of a country's economic development?
A) gross domestic product (GDP)
B) purchasing power parity (PPP)
C) human development index (HDI)
Answers
The term that refers to the broadest measure of a country's economic development is C) Human Development Index (HDI).
The Human Development Index (HDI) is a measure that goes beyond solely economic indicators, such as gross domestic product (GDP), to provide a broader assessment of a country's economic development.
The HDI takes into account three key dimensions of human development: a long and healthy life (measured by life expectancy at birth), access to knowledge (measured by expected years of schooling and mean years of schooling), and a decent standard of living (measured by gross national income per capita).
The HDI assigns numerical values to each of the indicators and then combines them into a single index. This allows for comparisons among different countries and provides a comprehensive understanding of a country's development performance.
The HDI is widely used by international organizations, policymakers, and researchers to assess and monitor progress in human development across countries. It helps identify areas of improvement and prioritize interventions to enhance the overall well-being of a nation's population.
While GDP and purchasing power parity (PPP) are important economic measures, they focus primarily on economic output and purchasing power, respectively. The HDI takes a more multidimensional approach by considering social factors that directly impact people's lives.
In summary, the Human Development Index (HDI) is a comprehensive measure that goes beyond GDP to evaluate a country's economic development by incorporating social indicators such as education and life expectancy. It provides a broader understanding of the overall well-being and progress of a nation's population.
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Which of the following is an
example of an operative
employee?
Answers
Explanation:
I just did this yesterday!
its assembled line worker
During the month, Cellum, Inc. sold 100 cells at a price of $100 each. Each cell was sold at a 1% sales discount. Cellum had returns of $198 (net of discounts) and incurred bank service charges of $20. Net sales for the month ended equals ? Explain pleaseAdditional question. Does bank service charge included in net sales?
Answers
Net sales for the month ended equals $9,800. To calculate net sales, we need to first calculate the gross sales, which is the total sales before any discounts or returns.
Gross sales = 100 cells x $100 each = $10,000
Now, we need to subtract the sales discounts and returns from the gross sales.
Sales discounts = 1% x $10,000 = $100
Returns = $198
Net sales = Gross sales - Sales discounts - Returns
Net sales = $10,000 - $100 - $198 = $9,702
However, we also need to take into account the bank service charges of $20, which are considered as an expense and should be deducted from the net sales.
Final net sales = Net sales - Bank service charges
Final net sales = $9,702 - $20 = $9,682
Therefore, net sales for the month ended equals $9,800.
Bank service charges are not included in net sales, as they are considered an expense and should be deducted from the net sales.
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Which of the following examples demonstrate common education and qualifications for Health, Safety, and Environmental Management careers? Check all that apply.
Houston is good at leading and supervising other workers.
Penny is very creative and can think of new ways to solve problems.
Melinda is good at explaining safety instructions to workers.
Caron has good mechanical knowledge of how diesel engines work.
Edgar has a bachelor’s degree.
Kent is a very good driver.
Answers
Answer:
B,C,E
Explanation:
100% on Edg
Answer:
2)Penny is very creative, and can think of new ways to solve problems.
3)Melinda is good at explaining safety instructions to workers.
4) Edgar has a bachelor’s degree.
Explanation:
Got it right on edge :)
The specialized area in management that converts or transforms resources, including human resources like technical skills and innovation, into goods and services is:________.
Answers
The specialized area in management that converts or transforms resources, including human resources like technical skills and innovation, into goods and services is known as operations management.
Operations management is responsible for overseeing the processes that involve the transformation of inputs, such as raw materials, labor, and technology, into outputs, which are the goods or services produced by a company.
In operations management, various activities take place to ensure efficient and effective production. These activities include capacity planning, inventory management, quality control, and scheduling. For example, capacity planning involves determining the optimal amount of resources needed to meet production demands.
Inventory management ensures that the right amount of materials and finished products are available to fulfill customer orders. Quality control focuses on maintaining high standards and minimizing defects in the production process. Scheduling involves creating timelines and allocating resources to complete tasks in a timely manner.
By efficiently managing resources, operations management plays a crucial role in achieving organizational goals and delivering high-quality products and services to customers. Overall, operations management is a vital aspect of any organization's success, as it ensures the smooth conversion of resources into valuable goods and services.
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1. What competitive advantages do these motivated veteran accountants bring to their new employers? Cite several examples.2. List three specific outcomes received by organizational members who have moved to these smaller accounting firms from senior positions in larger organizations.
Answers
1. The motivated veteran accountants bring several competitive advantages to their new employers. Some of these advantages include Extensive experience,Strong work ethic, Leadership skills, Industry connection.
2. The organizational members who have moved to these smaller accounting firms from senior positions in larger organizations have received several specific outcomes, including Greater autonomy,Closer relationships with colleagues,diverse responsibilities.
1. Extensive experience: These accountants have worked in the field for many years and have accumulated a wealth of knowledge and expertise that they can apply to their new roles.
- Strong work ethic: As veterans, these accountants are likely to be highly motivated and dedicated to their work, which can translate into increased productivity and better results for their new employers.
- Leadership skills: Many of these accountants held senior positions in larger organizations, which means they have developed strong leadership skills that they can use to guide and mentor their new colleagues.
- Industry connections: These accountants have likely developed a wide network of contacts and connections within the accounting industry, which can be valuable to their new employers in terms of business development and networking opportunities.
2. The organizational members who have moved to these smaller accounting firms from senior positions in larger organizations have received several specific outcomes, including:
- Greater autonomy: In smaller firms, these individuals may have more freedom and flexibility to make decisions and implement their own ideas, which can be both professionally and personally rewarding.
- Closer relationships with colleagues: Smaller firms often have a more close-knit and collaborative work environment, which can lead to stronger relationships with colleagues and a greater sense of camaraderie.
- More diverse responsibilities: In smaller firms, these individuals may be required to take on a wider range of responsibilities, which can provide them with new challenges and opportunities for professional growth.
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when kumquat, a contemporary sportswear company, tries to open its clothing stores in a new country, it learns that local rules require a certain percentage of its products be manufactured locally. this example fits into which category of pressures for local responsiveness?
Answers
The example of Kumquat, a contemporary sportswear company, facing local rules requiring a certain percentage of its products to be manufactured locally falls under the category of regulatory pressures for local responsiveness.
Regulatory pressures refer to the external regulations and laws imposed by the host country that affect the operations and strategies of multinational companies. In this case, the local rule requiring a certain percentage of products to be manufactured locally is a regulatory requirement that Kumquat must comply with to operate its clothing stores in the new country.
To determine the specific category of pressures for local responsiveness, we need to consider the four categories outlined in the framework developed by Christopher Bartlett and Sumantra Ghoshal: local market differences, distribution channel access, host government demands, and competitive pressure.
The requirement for Kumquat to manufacture a certain percentage of its products locally in order to comply with local regulations represents a host government demand, which is one of the pressures for local responsiveness. By adhering to this requirement, Kumquat demonstrates its willingness to adapt its operations to meet the specific regulatory expectations of the new country, thereby enhancing its local responsiveness.
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where does McKenna grace live? Brainliest for the correct answer
Answers
Answer:
McKenna grace lives in Texas of America.
Which resource can you use to view businesses or suppliers divided into different categories?
You may use online or offline _________
to view businesses or suppliers classified into different categories.
Answers
Answer:
yellow pages
Explanation:
It's "Yellow Pages" :)
I got it right on plato <3
Complete this paragraph about the impact of trade on American jobs based on the video you just watched.
New Balance manufactures its shoes in
. The Obama administration proposed a trade agreement called the
. It is
to hire Vietnamese workers than American workers. New Balance executives are hoping to avoid their workers losing their
because of the trade agreement.
Answers
Answer:
The radius of the earth is 6371 km and the weight of an object on the earth is 800 N. The weight of the object at an altitude of 6371 km above the surface of the earth
Answer:
New England
Trans-Pacific Partnership
10 times cheaper
Jobs
Explanation:
1. The fair rate is 8%. What is 100 per year, forever, worth
now? (1250)
2. What is the same 100 per year in number 1 worth if it only
lasts for 15 years? Same rate. (855.948)
Answers
1. The present value of receiving $100 per year, forever, at an 8% rate is $1250.
2. The present value of receiving $100 per year for 15 years at an 8% rate is $855.948.
Given information: The fair rate is 8%.
1. Calculation of present value for $100 per year, forever, at an 8% rate:
- PV = Pmt / r
- PV = $100 / 0.08
- PV = $1250
Therefore, the present value of $100 per year, forever, at the rate of 8% is $1250.
2. Calculation of present value for $100 per year for 15 years at an 8% rate:
- PV = Pmt x [1 - (1+r)^-n] / r
- PV = $100 x [1 - (1+0.08)^-15] / 0.08
- PV = $855.948
Thus, the present value of $100 per year for 15 years at an 8% rate is $855.948. In conclusion, applying the formula for present value of an annuity, the present value of $100 per year, forever, at an 8% rate is $1250, and the present value of $100 per year for 15 years at an 8% rate is $855.948.
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Where can water in the atmosphere come from? Select all possible answers.
A. oceans. B. plants. C. ice. D. puddles
Answers
Answer: A. It comes from oceans
In the market for loanable funds, the __________ curve demonstrates the fact that as interest rates rise, people are willing to borrow less. As a result, this curve is __________.
Answers
In the market for loanable funds, the supply curve demonstrates the fact that as interest rates rise, people are willing to borrow less. As a result, this curve is steep slope.
What is supply curve?Supply curve is a graphical representation,it shows how price of a good or service is related to the quantity of goods and services supplied.
This is done for a given period of time.
Therefore, In the market for loanable funds, the supply curve demonstrates the fact that as interest rates rise, people are willing to borrow less. As a result, this curve is steep slope.
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Pittsburgh-based Consol Energy's coal business largely depends on orders from utilities and steel companies which, in turn, depend on broader economic demand from consumers for electricity and steel-based products like automobiles and appliances because of ________. multiple sales calls professional purchasing multiple buying influences derived demand fluctuating demand
Answers
Considering the situation described above, Pittsburgh-based Consol Energy's coal business largely depends on "Derived demand."
This is because a derived demand is a type of demand that arises from the demand for something related.
In other words, derived demand is a demand for goods and services like raw materials due to demand for its final products.
Hence, in this case, since the Pittsburgh-based Consol Energy's business is dependent on demand from particular consumers, whose business needs are also dependent on demands from specific consumers, this is then an example of Derived demand.
Therefore, in this case, it is concluded that the correct answer is option C. "Derived demand."
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According to the interest-rate effect, aggregate demand slopes downward (negatively) because a. lower prices reduce money holdings, increase lending, interest rates fall, and investment spending increases. b. lower prices increase the value of money holdings and consumer spending increases. c. lower prices increase money holdings, decrease lending, interest rates rise, and investment spending falls. d. lower prices decrease the value of money holdings and consumer spending decreases.
Answers
Answer:
a. lower prices reduce money holdings, increase lending, interest rates fall, and investment spending increases.
Explanation:
as per the interest rate effect, the aggregate demand would slope downward or negative when there is less price that decrease the holding of the money also it would rise the lending, the rate of interst would be decline and the investment spending would be rise up
So according to the given situation, the option a is correct
And, the same would be considered
A $135 petty cash fund has cash of $28 and receipts of $110. the journal entry to replenish the account would include a:________
Answers
A $135 petty cash fund has cash of $28 and receipts of $110. the journal entry to replenish the account would include a Credit to cash over and Short of $3.
Cash Over and Short Account is a record in the general ledger. The record stores the sum by which the genuine completion cash balance varies from the outset book equilibrium of money available, give or take any recorded money exchanges during the period.
A firm ought to note occasions of money fluctuations in a solitary, effectively open record. This cash over-account ought to be named a pay proclamation account, not a business ledger because the recorded mistakes can increment or diminish an organization's benefits on its pay explanation.
A Petty Cash Fund is a limited quantity of organization cash, frequently kept closed, to pay for minor or coincidental costs, for example, office supplies or representative repayments.
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Jerry is the proud owner of American BBQ Eat... Jerry is the proud owner of American BBQ Eateries LLC. They currently operate in the southeast and have recently entered into a nonequity alliance with Big Bills BBQ Grills Inc., with a promise of sharing codified information via a licensing agreement. Which of the following best represents this level of sharing knowledge?
A. tacit knowledge
B. explicit knowledge
C. core competency knowledge
D. strategic alliance knowledge
Answers
Answer:
I hope C is correct answer.
All accounts that you Debit in a
Post Closing Trial Balance are
A. Liabilities
B. Shareholder's Equity
C. No accounts are debited
D. Assets
Answers
Answer:D. Assets. I hope this helps you
Explanation:
The correct answer is D. Assets. The post-closing trial balance is a list of all the permanent accounts remaining after the closing entries have been made. These accounts include all assets, liabilities, and equity accounts with balances that are not zero. The purpose of the post-closing trial balance is to ensure that the total debits and total credits of these accounts are equal, thereby confirming that they have been properly closed for the accounting period.
Answer:
D. Assets
Explanation:
Here is WHY:
In a Post Closing Trial Balance, the accounts that are debited are assets. Assets are things that a company owns, and when their values increase, they are debited.
Hope it helps!!
A soda manufacturer has two operating departments: mixing and bottling. mixing has 600 employees and bottling has 400 employees. office costs of $320,000 are allocated to operating departments based on the number of employees. the office costs allocated to the bottling department are:
Answers
Cost allocation is a technique of allocating the organization's costs among the various cost centers of the organization. Thus, the office costs allocated to the Bottling department are equal to $128,000.
What are allocation costs?Cost allocation is a technique of supplying relief to shared carrier organization's cost facilities that offer a product or provider. In turn, the related cost is assigned to internal clients' price centers that devour the goods and services.
As per the given information,
Total office costs: $320,000
We have given total number of employees for mixing = 600
And total number of employees for bottling = 400
office costs = $320,000
So total number of employees is equal to 600 plus 400 is 1000 employees.
\(\rm\,Allocation \,Base\, For\, Mixing: \frac{600}{1,000} = 0.6 \\\\So allocated amount for mixing is 0.6 \times \$320,000 = \$192,000\\\\Allocation \,Base\, for\, Bottling\, = \dfrac{400}{1,000} = 0.4\\\\So allocated amount for bottling = 0.4 \times \$320,000= \$128,000\)
Thus, the office costs allocated to the Bottling department is equal to $128,000.
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Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
Answers
Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friend
what is the law of demand and supply
Answers
Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.
Explanation: