Answer:
The correct answer is letter "B": False.
Explanation:
An oligopoly is a market where a few companies collide to take control of the price and supply of the goods or services provided. On the other hand, a monopolistic competitive market is characterized by having many companies competing against each other. The competitive advantage of firms will determine if consumers choose to buy the products of one company or the other.
Thus, <em>Glamour Gal is a monopolistic competitive market.</em>
Answer:
C.$16 of overhead cost should be assigned to each wooden gazebo and
$40 of overhead cost should be assigned to each metal gazebo
Explanation:
2,000 wooden x 4 hours = 8,000 labor hours
500 metal x 10 = 5,000 labor hours
total hours 13,000
single manufacturing overhead: 52,000 / 13,000 = $4 per labor hours
wooden gazebos: 4hours x $4 = $ 16
metal gazebos: 10 hours x $4 = $40
Scarcity is the condition wherein the mean to and end (that is resources required to achieve set goals) are limited in relation to the goals that need to be achieved.
Because of the above, one has to carefully make their choice while allocating the resources accordingly.
<h3>What is opportunity Cost?</h3>
When a choice is made between two competing alternatives, it means that one alternative has to be foregone. The alternative foregone is called the Opportunity Cost.
<h3>
What is a rationing device?</h3>
A rationing device is a system that determines who receives what of limited commodities and resources.
Price is one of the most regularly employed rationing techniques in a capitalistic (market-based) economic system.
Those who are willing and able to pay the price for a certain commodity (or resource) can obtain it.
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The curve that shows the relationship between the sales price and quantity sold is called the: demand curve.
The call for a demand curve is a graphical representation of the relationship between the price of an excellent or carrier and the quantity demanded for a given time frame. In a standard representation, the rate will seem on the left vertical axis, the amount demanded on the horizontal axis.
A demand curve is a graph that shows the amount demanded at every rate. every now and then the demand curve is likewise referred to as a demanding agenda because it is a graphical illustration of the call for schedules.
The demand curve can be a critical device to apply while corporations make pricing decisions. this is because the call for a curve can show the price point where the purchaser responsiveness drops, as well as the fee point that elicits the very best demand.
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Explanation:
Complements and Substitutes are basically the goods or services. Complements are the goods which are used with one another, and with the increase of price of one good, the demand of other good falls. On the other hand, substitutes are the goods which are used in place of other goods and with the increase in the price of one good, the demand of other product increases.
In this question, Mobile Applications and Smart Phones are Complements, and Smart Phones and Conventional Phones are Substitutes, and Mobile Applications and Conventional Phones are substitutes.
