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Can a company charge whatever they want if there are no competitors?
Wiki User
∙ 14y ago
Technically, yes, but there would never be such a situation in U.S., as that would be monopoly, which are illegal.
Wiki User
∙ 14y ago
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I am trustee of my mother's trust. How much can I charge?
whatever you want as long as she agrees to it. There is no set amount.
Why it is better when two firms compete?
It is good for two firms to compete, especially for the consumer. The best way to show this is by a basic example. If Company A is the only company that makes TVs, then they can charge whatever they want to because they are the only company that makes it. If Company B begins to make TVs, then Company A now has competition. Now, Company B could price their TV lower than Company A, and in return, Company A has to price theirs lower to keep up with the competition. Now, in today's world, throw in multiple competitors and that is what the economy is made of. It is great for the consumers, but bad for the firms because they won't make as much money as they would if they had a monopoly. The Sherman Antitrust Act was put in place to protect consumers from monopolies taking advantage of them.
What are monopolies and do economies benefit from them?
Exclusive control by one group of the means of producing or selling a commodity or service There is one of that product/service so they can charge what ever they want with out worrying about competitors.
What is the purpose of competition in economics?
Competition decreases the risks of monopolies and oligopolies from forming. When there's competition, there are more firms that are producing goods/services, so an individual firm can't pick whatever price they want. They must consider what their competitors will charge. Also, some firms may want to supply a small quantity at high prices. Competition forces firms to produce more at a lower price.
What is meant by monopoly?
if you buy out all your competition you have a monopoly. then you can charge whatever you want, because people don't have aby choice where to but. kinda like Microsoft or wal mart
Why does annual fee differ on credit cards?
Because the card company can charge whatever fee they want. Some cards don't charge an annual fee at all, while others can charge huge sums !
How much should a security guard company charge to patrol a residential neighborhood?
They can charge whatever they want - as long as it's not so high as to price them out of the market, through competition with rival companies.
If the dealer says a new car had light body damage and was repaired can they still charge sticker price?
They can charge whatever they want.
How do you calulate the per min rates of longdistance calls?
AnswerIt's not up to you to calulate per min rates of long distance unless you own the telephone company and then you wouldn't be asking this question. If for example you are asking about Cell Phone ratese, these companies are free to charge whatever rates they want.If on the other hand you are asking about a telephone company they too can charge whatever rates they want to charge, but in Canada they have to submit their rate changes to a Government organization called the CRTC and it is they who say what the telephone companies can charge for long distance rates. If you live in the States there must be a similar organization, that says what telephone companies can charge for long distance rates.AnswerAnswer It's not up to you to calulate per min rates of long distance unless you own the telephone company and then you wouldn't be asking this question. If for example you are asking about Cell Phone ratese, these companies are free to charge whatever rates they want.If on the other hand you are asking about a telephone company they too can charge whatever rates they want to charge, but in Canada they have to submit their rate changes to a Government organization called the CRTC and it is they who say what the telephone companies can charge for long distance rates. If you live in the States there must be a similar organization, that says what telephone companies can charge for long distance rates.
Is it illegal in Florida to charge a fee for using a credit card?
No, but it is legal to steal whatever you want.
I am trustee of my mother's trust. How much can I charge?
whatever you want as long as she agrees to it. There is no set amount.
Can you go to the towing company and get your possessions?
Yes but it's up to the company to charge you to get it or if they dont want you to get it at all
What is the percent per month they can charge in interest?
Whatever they want to charge. The only legal requirement is that they have tomake sure that you know the interest rate before you borrow the money.
Why it is better when two firms compete?
It is good for two firms to compete, especially for the consumer. The best way to show this is by a basic example. If Company A is the only company that makes TVs, then they can charge whatever they want to because they are the only company that makes it. If Company B begins to make TVs, then Company A now has competition. Now, Company B could price their TV lower than Company A, and in return, Company A has to price theirs lower to keep up with the competition. Now, in today's world, throw in multiple competitors and that is what the economy is made of. It is great for the consumers, but bad for the firms because they won't make as much money as they would if they had a monopoly. The Sherman Antitrust Act was put in place to protect consumers from monopolies taking advantage of them.
Can you settle a charge-off with the finance company?
YES, if they want to settle it. Make them a CASH offer.
What are monopolies and do economies benefit from them?
Exclusive control by one group of the means of producing or selling a commodity or service There is one of that product/service so they can charge what ever they want with out worrying about competitors.
How does Sony company distribute their products?
They do whatever the heck they want with it because they're better than Microsoft.
