On july 1, 1990, john invested $300 in an account that earned 8% simple interest. on july 1, 1993 he closed this account and deposited the liquidated funds in a new account earning q% simple discount. on july 1, 1998, john had a balance of $520 in the simple discount account. how much interest did he earn between july 1, 1993 and july 1, 1994?

Why is the type of product sold in an industry an important characteristic? a firm that can differentiate its product from that of rivals may be able to charge a higher price for a superior product. a firm that sells intangible goods is usually considered a monopoly. service industries cannot differentiate their products, which makes it easy for new firms to enter the industry. expensive products are usually sold by perfectly competitive firms.