An oligopoly is a market with a small number of businesses that are aware of their interdependence in terms of price and output practices. Each company has some market power because there aren't many businesses.
What is an oligopoly market?A small number of providers control oligopoly marketplaces, which are dominated by them. All nations and a wide range of industries contain them. Other oligopoly markets are substantially less competitive, though they may at first appear to be so in some cases.In a market arrangement known as an oligopoly, a few major sellers or manufacturers control the majority of the market or industry. Oligopolies frequently arise as a result of corporate collaboration and the drive to maximize profits.An oligopoly is a market with a small number of businesses that are aware of their interdependence in terms of price and output practices. Each company has some market power because there aren't many businesses.To learn more about Oligopoly refer to:
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the degree of complexity, cost, and uncertainty, along with , determine which form of change an organization will implement.
The degree of complexity, cost, and uncertainty determine which form of change an organization will implement Innovative change.
An organization or organization is an entity, such as a company, institution, or association, made up of one or more people and having a specific purpose. The word comes from the Greek word organon, which means tool or instrument, musical instrument or organ.An organization is a group of people working together, such as a neighborhood association, charity, union, or business. The word organization can be used to refer to a group or enterprise or the act of forming or establishing something.
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sugar sanctions on sugar producing nations are relaxed, allowing the buying and selling of sugar to become an unregulated free market where countries can trade with one another. what is new domestic price?
The prosperity that a country will experience as a result of its comparative advantage is the major justification for economists' opposition to trade restriction policies.
Therefore, a trade limitation would be unpopular among trading nations. If a country's domestic opportunity cost of production is lower than the domestic opportunity cost of other nations, it has a comparative advantage in the production of that good or service. Solving for the cost of one good in trade of another will reveal the opportunity cost of producing that good or service. In contrast to what would have been possible domestically, trade between two agents or countries enables the countries to enjoy a higher total output and level of consumption.
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what could angelas supervisors have done to improve her understanding of the audit strategy for each engagement
An agreement between an auditor and a client to audit the client's financial records and accounting records is known as an audit engagement.
What is audit engagement?The contractual arrangement between a professional firm and its customer is laid forth in an engagement letter. This letter outlines the engagement's terms and conditions, focusing primarily on the engagement's scope and the firm's terms of payment.Typically, the term refers to the two parties' agreement rather than the entire scope of the auditor's auditing responsibilities.Planning internal audit engagements entails prioritizing the risks pertinent to the engagement, deciding the engagement's objectives and scope, and documenting the approach. It also involves taking into account the strategies and objectives of the area or process being examined.The audit process typically consists of four stages: planning (also known as survey or preliminary review), fieldwork, audit report, and follow-up review, although each audit process is distinct.
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10. When did Lillie allow an external company access to her credit report specifically for an auto loan?
*
1 point
5/10/2015
6/5/2015
12/15/2016
5/10/2017
The question is asking about when Lillie allowed an external company to its credit report.
Lillie has received a request by Toyota Financials for her credit report access on 5/10/2015 date for making an auto loan approval.
She provided an access on 5/10/2017 since the date of removal for this inquiry is 5/10/2017. There is a big delay in providing the access to the financials of about 2 years.
Lillie has allowed access to the external company which is Toyota Financial to her credit reports in order to satisfy the company about her financial position and grant her an auto loan.
So The correct answer is 5/10/2017.
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in 2015 an accounting gimmick gave Ireland a 26% growth rate in GDP. What does this event reflect about the nature of GDP? a. Inputs to GDP are all qualitative, not quantitative. b. Governments are required to change GDP calculations every five years.
c. If the measurement of economic activity evolves, GDP can change. d. Because the GDP is official, its numbers are not subject to interpretation.
Option C. If in 2015 an accounting gimmick gave Ireland a 26% growth rate in GDP, the meaning is that If the measurement of economic activity evolves, GDP can change.
What is GDP?Gross domestic product (GDP) is a monetary indicator of the total market value of all the final commodities and services that nations generate and sell over a given time period. This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is.
GDP calculates the monetary value of the final goods and services—those purchased by the consumer—produced in a nation during a specific time period (say a quarter or a year). It accounts for all the output produced inside a nation's boundaries.
The standard measurement of the value added produced via the production of goods and services in a nation over a specific time period is the gross domestic product (GDP). Consequently, it also accounts for the revenue generated by that manufacturing, or the total amount spent on finished goods and services (less imports).
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investment may rise when businesses expect improved growth prospects from a fiscal stimulus, even if deficit spending does interest rates.
Investment may increase when companies anticipate stronger growth prospects as a result of a fiscal stimulus, even if this causes interest rates to increase.
Fiscal policy is the word used to describe how the government uses spending and taxation to affect the economy. Governments frequently use fiscal policy to encourage long-term growth and combat poverty. The role and objectives of fiscal policy became more obvious as governments intervened to stabilize financial institutions, spur growth, and lessen the impact of the crisis on vulnerable populations. The leaders of the Group of 20 industrialized and developing market nations stated in the communiqué that they were pursuing "unprecedented and concerted budgetary growth" following their summit in London in April 2009.
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A policy that requires the consumer to explicitly give permission before an organization can share information with another organization is called.
A policy that requires the consumer to explicitly give permission before an organization can share information with another organization is called opt-in. Information sharing inside an organisation occurs between individuals, teams, or departments.
Similar to the private sector, government-related public organisations and government agencies can participate in inter-organizational information exchange. Sharing information consumer promotes efficiency and innovation by preventing repetition and fostering the emergence of fresh concepts. Everyone wins by giving employees the freedom to share their knowledge with others and making their own information simple to locate later. Information can be incorporated into organisational processes, which allows it to have an impact on the culture, structure, and work habits of the organisation.
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in 2022, firm l purchased machinery costing $21,300 and elected to expense the entire cost under section 179. required: how much of the expense can firm l deduct if its taxable income before the deduction was $58,000. how much of the expense can firm l deduct if its taxable income before the deduction was $19,200. how much of the expense can firm l deduct if its net operating loss (nol) before the deduction was $5,016.
The deduction under section 179 is $21,300 and $19,200.
A deduction means an expense that can be subtracted from a taxpayer's gross input in order to decrease the number of input that is subject to taxation.
According to the scenario, we know that:
Cost of equipment = $21,300
Taxable income = $58,000
The taxable income = $58,000, which is more than the price of machinery which is $21,300. In this case, the full cost of machinery can be deducted.
So, in conclusion the deduction under section 179 is $21,300.
Taxable income = $19,200, which is less than the price of the machinery. Thus, only partial deduction is permitted under section 179, which is $19,200
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he preemptive right is the right of current stockholders to buy new shares in an amount that will maintain their proportionate ownership in the firm. true or false
The statement 'The preemptive right is the right of current stockholders to buy new shares in an amount that will maintain their proportionate ownership in the firm' is true.
In the field of business, preemptive rights can be described as the rights of the stockholders of a business to buy more shares in a business before those shares are offered to anybody else.
Through the preemptive rights, new shares are brought that will allow the stockholder to maintain proportionate ownership in the business.
A preemptive right allows the correct stockholders to invest more in the same business.
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if you are concerned with maintaining the market value of your preferred stock, you should purchase floating-rate preferred shares. group startstrue or false
This assertion is accurate. Purchase floating-rate preferred shares if you are worried about keeping your preferred stock's market value high.
How do floating rate preferred shares work?Floating Rate Preferreds: Also known as "variable rate" preferred shares, these securities pay dividends at a rate that fluctuates with market interest rates, such as the prime rate of a large bank, and are typically issued in the form of quarterly or monthly payments.
Is it a wise investment to use variable rates?In times of rising interest rates, investors are drawn to floating rate funds because they will generate more interest or coupon payments. For the conservative or fixed income element of any portfolio, floating rate funds are a desirable investment.
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a global marketing strategy differs from a multi-domestic marketing strategy in that the global marketing strategy:
This method definitely is not a multidomestic strategy. In spite of the possibility of certain minor product and service modifications in other nations.
A global strategy emphasizes the necessity to achieve economies of scale by offering essentially the same goods or services in every market. For instance, Microsoft makes the same software applications accessible globally in a variety of languages. Like other producers of consumer goods, Procter & Gamble seeks out every chance to establish global brands in order to boost productivity. Global strategy can also be very successful for businesses like silicon chip manufacturer Intel, whose product or service is largely hidden from the customer's view. Local preference variations have little impact on these firms.
The decision to use a global marketing strategy has various advantages.
• A recognized, standardized brand that is used globally
• Operations and procedures become more efficient as a result of economies of scale.
• With a single product line that experiences few changes, it is easier to streamline procedures and scale more quickly.
• Worldwide market competitiveness
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it is around labor day weekend. us open is in full swing. you know that this time of the year your demand for tennis racquets increases. how do your costs identified in part a change in this situation assuming you are increasing your lot size to meet the anticipated demand?
While the number of orders may stay the same, inventory holding costs rise with an increase in average inventory. As a result, overall costs rise.
The expenses incurred for keeping goods or inventory in a warehouse are known as inventory holding costs. Inventory that is kept on hand is a liability that reduces profit margins and raises operating costs for firms. Inventory holding expenses include rent for the facility, security fees, depreciation costs, and insurance.
An estimation of the worth or quantity of a certain commodity or group of goods over two or more specified time periods is known as average inventory. The median value of the same data set may differ from the average inventory, which is the mean value of an inventory during a specific time period.
About the weekend of Labor Day. US Open is currently underway. You are aware that your need for tennis racquets rises at this time of year so as a result, even if the number of orders may remain constant, inventory holding costs rise as average inventory levels rise. Costs as a whole increase as a result.
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blossom company assembled the following information is completing its march bank reconciliation: balance per bank 16784. outstanding checks 2930. deposits in transit 4700. nsf check 302. bank service charge 90. cash balance per books 16610. as a result fo this reconciliation, blossom will:
Matching the customer record to the bank records is the main goal of creating a bank reconciliation statement. The bank prepares this statement and sends it to customers periodically.
What is the primary goal of creating a statement of bank reconciliation?
The primary objective of a bank reconciliation statement (BRS) is to assist businesses in identifying errors that could have an impact on their financial and tax reporting.
What is the primary objective of a reconciliation of accounts?
Purpose: The validity and accuracy of financial information are guaranteed by the reconciliation procedure. Additionally, a proper reconciliation procedure ensures that no transactions have been altered without authorization during processing.
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you currently own 100 shares of a stock that has increased in value from $15 to $35 per share. you do not want to sell the stock but want to protect yourself against a large downturn in the market. which of the following is an effective action on your part? a) buy a $30 call option on the stock. b) sell a $30 put option on the stock. c) buy a $30 put option on the stock. d) sell a $30 call option on the stock.
B.Buy a $30 put option on the stock.
Buying a put option of $30 will give us a chance to sell the share at a minimum price of $30.,,even though the actual price of the stock in the market may go down below $30.
A minimum price of $30 per share is therefore guaranteed, even if the price drops significantly.
Shares are the units into which a company divides or splits its entire share capital. It is a tiny portion of an organization's share capital and the foundation for an ownership stake in the business. Shareholders are the individuals or organizations who give the business money in exchange for shares. The company's authorized capital as well as the total number of shares into which it can be divided are both mentioned in the memorandum of association.
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Which section of a business plan determines if there is a large enough customer pool?.
Market analysis section of a business plan determines if there is a large enough customer pool.
What is Market?A market is defined as the aggregate of all buyers and sellers in the region or regions under consideration. A region can be a globe, country, region, state, or city. The value, cost, and price of traded items are governed by the forces of supply and demand in the market. Economic market structures can be divided into four categories: perfect competition, monopolistic competition, oligopoly and monopoly. Categories differ based on the following characteristics: The number of producers is large in monopolistic competition, few in oligopoly, and one in monopoly. A market place is a place where buyers and sellers meet to facilitate the exchange or trade of goods and services. A market place can be physical, like a retail store, or virtual, like an e-merchant.To learn more about Market from the given link :
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Quantas industries sold $325,000 of consumer electronics during july under a nine-month warranty. The cost to repair defects under the warranty is estimated at 4. 5% of the sales price. On november 11, a customer was given $220 cash under terms of the warranty.
Consumer devices with a nine-month warranty were sold for $325,000 by Quanta's Industries during the month of July.
What is Industries?
An industry is a collection of businesses that are connected by their main lines of business. There are numerous classifications of industries in contemporary economies. Sectors are generally used to group together larger categories of industry classifications. Typically, a company's largest revenue sources determine what industry it belongs to. For instance, even though an automaker may have a financing division which contributes 10% to the company's overall revenues, most classification systems would place the business in the automaker industry.
The price of fixing problems covered by a guarantee. Liability for estimated warranties Consumer devices with a nine-month warranty were sold for $325,000 by Quanta's Industries during the month of July. Estimated repair costs for flaws covered by the warranty are 4.5% of the purchase price. A customer received $220 in cash on November 11 in accordance with the warranty's terms.
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cash flow in a good personal financial plan requires money allocated to personal financial goals to be distributed in which way?
Cash flow in a good personal financial plan requires money allocated to personal financial goals to be distributed in the personal financial plan.
In general terms, financial planning is a comprehensive assessment of an individual's current salary and future financial position by predicting future income, wealth, and recovery plans using currently known variables. to evaluate.
Financial planning can help you reach your financial goals, whether it's buying a family home, saving for your children's education, a comfortable retirement or a dream vacation. It also helps you prepare for the unexpected and emergencies. B. If you get sick, lose your job, or need to renovate your home.
The most important entry point into financial planning is budgeting. Setting a budget is relatively easy. Hard to stick with!
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smith corporation acquired west company by paying $5 million in cash. the total fair value of west's identifiable assets is $8 million and the total fair value of its liabilities is $4 million. the amount of goodwill reported by smith corporation relating to its acquisition of west is:
Smith Corporation reported $1 million in goodwill associated with the purchase of West.
What is acquisition?Real estate acquisition refers to the process of acquiring or gaining possession of property. The public's enthusiasm for the museum's most recent additions is an acquisition. the acquisition of a competing company; mergers and acquisitions; the purchase of one corporate entity by another.The estimated value of a tangible asset to the reporting entity at the end of its useful life is known as salvage value. In general, a tangible item that has been used for its entire economic life will have little to no salvage value (i.e., scrap value).$5,000,000 - ($8,000,000 - $4,000,000) = $1,000,000.Add up the value of all the company's assets, including all of its inventory and equipment. Subtract any liabilities or debts. The balance sheet value of the company is at least a place to start when figuring out how much the company is worth.To learn more about acquisition refer to:
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information for kent corp. for the year 2021: reconciliation of pretax accounting income and taxable income: pretax accounting income$181,200 permanent differences (14,800) 166,400 temporary difference-depreciation (11,400) taxable income$155,000 cumulative future taxable amounts all from depreciation temporary differences: as of december 31, 2020$12,800 as of december 31, 2021$24,200 the enacted tax rate was 22% for 2020 and thereafter. what should kent report as the current portion of its income tax expense in the year 2021?.
The income tax expense that Kent should report in the year is $34,100
The income tax expense on the income statement is the sum of the current and deferred income tax for the year. The current tax expense is recorded in the Income Tax Payable liability account. The current portion of the income tax expense is part of the total expense that is payable to the IRS on the date the return is filed. It is based on the company's taxable income and its income tax rate for the tax year:
Taxable income $155,000
Income tax rate 22%
Current portion of the income tax expense = $155,000 × 0.22 = $34,100
The temporary differences listed in the book-tax reconciliation are used to calculate the deferred tax portion of the total income tax expense.
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which of the following would be reported as a liability? demand deposits bank overdrafts travel advances certificates of deposit
Bank overdrafts would be reported as a liability.Hence, Option (a) is correct.
Overdrawing a current account is achievable with a bank overdraft. This implies that even if the account does not have enough money, if an outgoing payment is more than the amount of money remained in the account, the payment can still be made owing to the bank overdraft. Therefore, a bank overdraft is a type of credit.
Different definitions of "liability" may be found in the fields of law, insurance, politics, and finance. A liability in finance and accounting is a debt owing by a person or an organization. Financial liabilities, like a leasing agreement, can also constitute enforceable commitments to make future financial payments.
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The question was incomplete. Check below the full question.
Which of the following would be reported as a liability?
a. demand deposits
b. bank overdrafts
c. travel advances
d. certificates of deposit
What does a decrease in federal government purchases do to the neo-keynesian model used in class?.
Keynesians believe that, due to the fact expenses are extremely inflexible, fluctuations in any component of spending—consumption, funding, or government fees—purpose output to exchange.
If government spending will increase, as instance, and all different spending additives continue to be consistent, then the output will growth.
It blanketed tax cuts/credit and unemployment benefits for families; it also earmarked expenses for healthcare, infrastructure, and education. those stimulus measures and federal interventions helped America's economy get better, preventing the splendid Recession from turning into any other complete-blown depression.
He argued that uncertainty prompted people and agencies to stop spending and making an investment, and government have to step in and spend cash to get the financial system lower back on course.
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With the ________ approach to on-premise erp implementation, a company develops new erp functions designed specifically for that firm.
'With the custom approach to on-premise ERP implementation, a company develops new ERP functions designed specifically for that firm.
Enterprise resource planning is the integrated management of core business processes, often in real time and mediated through software and technology.
ERP provides the ability to automate repetitive business tasks such as payroll, order processing, invoicing, and reporting. Automation minimizes time spent on manual data entry, reduces errors, and frees up employees to focus on more value-added tasks.
ERP systems help you make more informed decisions based on real-time data. Adding an ERP system allows companies to learn best practices from different industries as they add customers. This improves efficiency.
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assuming the apr on your credit card is 24 percent and your average daily balance this month was $8,000, what will your interest or finance charges for the month be
Assuming the APR on your credit card is 18% and your average daily balance this month was $10,000, The interest or finance charges for the month will be $152.876712
Total Finance Fee Due for the Billing Cycle = $10,000 x 0.18%
x 30 ÷ 365
= $152.876712
The cost of using credit or extending credit is known as a finance charge. The most typical finance charge is based on a percentage of borrowings, but it can also be a flat fee. Frequently, a finance charge is an all-inclusive cost that includes the cost of servicing the debt as well as any associated transaction fees, account maintenance fees, or late fees assessed by the lender.
The interest rate is among the more typical finance fees. Due to the current sum that has been given to the borrower, the lender is now able to realize a profit, expressed as a percentage. Depending on the type of financing obtained and the borrower's creditworthiness, interest rates may change.
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Wine and roses, incorporated, offers a bond with a coupon of 8. 5 percent with semiannual payments and a yield to maturity of 8. 34 percent. The bonds mature in 17 years. What is the market price of a $1,000 face value bond?.
The market price of a $1000 face value bond is $1,059.32
What is market price?
It is determined using the current interest rate compared to the interest rate stated on the bond. The market price of the bond comprises two parts. The first part is the present value of the bond's face value. The second part is the present value of the bond's interest payment.
How to calculate market price?
Par / Face Value of the bond = $1000
Semi annual coupon payment
= par value * coupon rate * 1 / number of coupon payments per year
= $1000 * 8.5% * 1/2
= $42.5
Number of coupon payments (n)
= Years to maturity * number of coupon payments per year
= 17 * 2
= 34
Semi Annual Yield (YTM)
= yield to maturity / number of coupon payments per year
= 0.0834 / 2
= 0.0417
Now, let's calculate the current market price of bond
Price = Coupon payment *(1-(1+YTM)^-n)/YTM + Face Value / (1+YTM)^n
= 45 * [tex]\frac{(1-(1+0.0417)^{-34})}{0.0417} + \frac{1000}{(1+0.0417)^{34} }[/tex]
= 45 * [tex]\frac{(1-0.2493155798)}{0.0417} + \frac{1000}{4.010980785}[/tex]
= 45 * 18 + 249.31557981
= 810 + 249.31557981
= $1,059.32 (rounded)
So the bond's current market price of wine and roses, Inc. is $1,059.32
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What type of decision determines whether a project is worth all the effort and investment or should it be halted, and is commonly based on the outcome of a multi-dimensional feasibility assessment of the project?.
Go/ No Go decision determines whether a project is worth all the effort and investment or should it be halted, and is commonly based on the outcome of a multi-dimensional feasibility assessment of the project.
A feasibility study is an evaluation of the practicality of a project or system. A feasibility study aims to objectively and reasonably clarify the strengths and weaknesses of an existing project or program.
A feasibility study (also known as a feasibility study or feasibility report) is a method of evaluating whether a project plan will be successful. A feasibility study evaluates the feasibility of the project plan to assess whether the project can proceed.
A feasibility study can identify the logistical, financial, and market challenges of a proposed project by evaluating: If the potential trade offers a return on investment. the market for the proposed product or service;
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The go/no-go decision is a key part of a feasibility study, and it can help you determine whether or not your business idea is worth pursuing. Making the go/no-go decision is all about risk assessment.
Feasibility refers to whether or not or not an assignment can be successful and the way to triumph over ability limitations to the project. in case you're in a challenge control position, conducting a feasibility look at assist you to examine a mission from start to completion and making selections earlier than the venture starts offevolved
Technical Feasibility: this consists in determining in case your business enterprise has the technical sources and knowledge to satisfy the undertaking requirements.
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where y is gdp, c is consumption, i is investment, g is government spending, and there is no international trade, national saving equals:
National saving equals: Y - C - G when Y is GDP, C is consumption, I is investment, and G is government spending and there is no international trade.
In a closed economy, national savings (NS) equals the sum of private and public saves, or GDP - C - G.
The government budget deficit is equal to G - T in cases where Y is GDP, C is consumption, I is investment, G is government expenditure, T is net taxes, and there is no international trade. When there is a surplus in the government budget, public saving is beneficial.
In economics, the total of a nation's private and public savings is its national saving. It is the same as a country's income less its government and consumer spending.
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Mr. D is the manager of a local walgreens. His biggest concern is to make sure that his store is always making the most profit possible. He cuts costs by focusing on certain logistical decisions. Every other day walgreens receives shipments from pepsi, evian, hershey, and numerous other manufacturers. Walgreens insists on small shipments every two days, which helps to keep their inventory costs low. What system is mr. D using at walgreens to reduce his costs?.
Mr.D is using just-in-time inventory at Walgreens to reduce his costs.
Just-in-time, or JIT, is an inventory management method in which goods are received from suppliers only as they are needed. The main objective of this method is to reduce inventory holding costs and increase inventory turnover.
A just-in-time (JIT) inventory system is a management strategy that has a company receive goods as close as possible to when they are actually needed. So, if a car assembly plant needs to install airbags, it does not keep a stock of airbags on its shelves but receives them as those cars come onto the assembly line.
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two advantages small firms have over large firms include more personal customer service and the ability to respond quickly to
Answer: Even though it's not easy to compete with large firms there are a few advantages to being a small firm
Some of the advantages are
Personal EdgeResponsive to changes in conditionseasier to take risksability to respond quicklyExplanation:
Personal edge:
When the customers find your products meet their needs and like your customer service they're most likely to support the firm.
Knowing the customers face to face can help small firms increase their business when large firms focus on dominating the market
You can get the customers to market the products on social media and other platforms which will help the firm to grow
Responsive to change in conditions:
Small firms are more likely to adapt to the new changes in market conditions since they're closer to their customers and can get their feedback and know their changes in preferences. A small firm can adapt to new conditions more easily, especially when it hasn't invested in infrastructure when compared to larger firms
Easier to take risks:
Small firms can take risks which is not possible for large firms
Small firms can test their products in the market with a small investment to observe the obstacles before trying the idea of large scale
some large firms take the help of small firms to test their ideas for the products
Ability to respond quickly :
The small firms can respond quickly when the customer has an issue with the product and solve it and provide the customer with their service which is slightly difficult as the number of customers increases and the probability of responding decreases
the balances in sanchez accounting services' office supplies account on february 1 and february 28 were $1,200 and $375, respectively. if the office supplies expense for the month is $1,900, what amount of office supplies was purchased during february?
A company's total expenditure on consumables is referred to as its supply expense, which is a category of indirect expense. The cost of manufacturing goods does not include the cost of supplies.
What is the cost of supplies?
The cost of consumables used during a reporting period is referred to as supplies expense. This can be one of the largest costs for a company, depending on the type of business.
What costs for supplies are included?
In accounting, "supplies expense" is the cost of a set of goods that a company used during a particular reporting period. These items may be used frequently by staff members to complete daily tasks. An accountant might, for instance, consider office printer ink cartridges to be a supplies expense.
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suppose the cross-price elasticity between demand for burger king burgers and the price of mcdonald's burgers is 0.8. if mcdonald's increases the price of its burgers by 10%, then:
The relationship between the price of one product and the demand for a different one is known as cross price elasticity. The demand for Burger King will increase by 0.8x10%=8% if the price of a mcdonald's burger increases by 10%.
The Porter effect
The Porter's forces or Porter's five force approach is used to evaluate the competitive environment in which a corporation operates. Additionally, it aids in the development of the five forces that control the degree of competition and, consequently, the profitability of an industry.
Given,
Customers might start ordering tacos instead of burgers if McDonald's and Burger King hike prices too much.
We must locate the porter's employed forces here.
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