Ask Question
BusinessBusiness
2 April, 20:52

A particular computer software manufacturer creates a product that all computers are required to use. The exclusive product allows the manufacturer to dictate prices, standards of quality, and product availability. This would be an example of a:

+3
Answers (1)
  1. 2 April, 23:57
    0
    Monopoly

    Explanation:

    Monopoly is a market structure in which a unique product is sold by a single seller in the market. Simply put, it is a market that is dominated by one seller.

    In monopoly, the single seller has the power through the uniqueness of his product to dictate prices, standards of quality of product, availability of product, etc. This means that the seller has no close substitution or competition from another manufacturer and as such has the full control of the market.

    In monopoly, there is almost no control of prices as manufacturer can increase prices as he see fit which can come as a disadvantage to consumers.

    Cheers.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A particular computer software manufacturer creates a product that all computers are required to use. The exclusive product allows the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Kevin purchases 1,000 shares of Bluebird Corporation stock on October 3, 2019, for $475,000. On December 12, 2019, Kevin purchases an additional 750 shares of Bluebird stock for $332,500.
Answers (1)
Martin Campbell wants to invest in mutual funds. He plans to retire in 2030. He would like the fund to adjust it's portfolio to more conservative as he nears retirement. Which type of fund would you recommend
Answers (1)
Megginson, Inc. issued a five-year corporate bond of $300,000 with a 5% interest rate for $290,000. What effect would the bond issuance have on Megginson, Inc.'s accounting equation
Answers (1)
Boeing announces it will increase population of its 737 jetliners at its Renton, Washington factory from the current 42 per month to 52 per month in 2018. This is a ___ decision
Answers (1)
The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320); imports ($35); exports ($22); personal consumption expenditures ($2,460); and, government purchases ($470).
Answers (1)
New Questions in Business
Commercial paper is very popular with many firms because Multiple Choice it can usually be issued below the prime rate. there are no required lines of credit at the bank. it satisfies the firm's need for long-term funds.
Answers (1)
Andrews Corp. ended the year carrying $33,836,000 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Andrews Corp.?
Answers (1)
The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 6,100 direct labor-hours will be required in May. The variable overhead rate is $8.50 per direct labor-hour.
Answers (1)
Trinidad Schwab is an employee at the Kyletown Fire Department. He received the following benefits from his employer during 2019 for company purposes: On-site housing: $385 per month Employer-provided cell phone: $95 per month Meals: $190 per month
Answers (1)
Presented below is information related to Crane Corp. for the year 2020. Net sales $1,040,000 Write-off of inventory due to obsolescence $64,000 Cost of goods sold 624,000 Depreciation expense omitted by accident in 2019 44,000 Selling expenses
Answers (1)
Home » Business » A particular computer software manufacturer creates a product that all computers are required to use. The exclusive product allows the manufacturer to dictate prices, standards of quality, and product availability. This would be an example of a:
Sign Up Forgot Password?