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Oliga [24]
2 years ago
10

A perfectly competitive firm faces a __________ demand curve. Group of answer choices upward sloping downward-sloping perfectly

elastic perfectly inelastic
Business
1 answer:
qwelly [4]2 years ago
5 0

A perfectly competitive firm faces a downward-sloping demand curve.

<h3>What is demand curve?</h3>

It is a visual illustration of the connection between product pricing and demand-side quantity. The graph is built with amount demanded on the horizontal axis and price on the vertical axis.

Demand curve has two types-

  • individual demand curve: The quantity that a specific household wants at different prices is represented by a demand curve for that particular household. The graphic representation of the individual demand schedule is another way to describe it. It can be created by analyzing consumer behavior in response to price changes.
  • market demand curve: The total of each individual demand curve for a certain good on the market constitutes the market demand curve. It displays the quantity of the commodity that is demanded at various pricing points. The market demand curve has a negative, or downward, slope because quantity requested declines as price rises.
<h3>What is downward-sloping demand curve?</h3>

A demand curve demonstrating how demand declines as price rises.

The price elasticity of demand is always negative for a downward-sloping demand curve since the price and quantity requested move in the opposite directions.

To know more about the demand curve, here

brainly.com/question/1139186

#SPJ4

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Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing depar
olya-2409 [2.1K]

Answer:

Ice Cream Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.30.

Explanation:

a) Data and Calculations:

                                                  Units       Materials        Conversion

Beginning work in process     2,400      $ 14,500           $ 6,600

Percentage of completion

Beginning work in process                        75%                   20%

Started into production          11,100

Units in production               13,500

Completed and transferred 10,000

Ending work in process         3,500         90%                  30%

Costs added during the month             $173,600       $243,600

Total costs of production

Beginning work in process          $ 14,500           $ 6,600

Costs added during the month    173,600          243,600

Total costs of production            $188,100        $250,200

Equivalent units of production:

Completed and transferred 10,000   10,000 (100%)   10,000 (100%)

Ending work in process         3,500     3,150 (90%)       1,050 (30%)

Equivalent units of production            13,150                11,050

Cost per equivalent unit:

Total costs of production            $188,100        $250,200

Equivalent units of production        13,150              11,050

Cost per equivalent unit                 $14.30            $22.64

5 0
3 years ago
The wage rate is $10 per hour and the last worker hired by the firm increased output by 100 units. Computers rent for $100 per h
const2013 [10]

Answer:

To minimise cost, the firm should lay off worker and rent more computer as it give more output per dollar invested on it.  This reduce the fixed cost of the company drastically and increase the production of the company.  The marginal cost of production and marginal revenue are economic parameter, which help to determine the amount of output and price per unit of input that will maximise the profits. The point at which marginal revenue is equal to marginal cost maximise the profit.

5 0
3 years ago
Which of the following is not true of taxable asset purchases?
shutvik [7]

Answer:

e. None of the above

Explanation:

The taxable asset purchases allows the individual to increase or step up the tax basis of acquired assets so as to reflect the price of the purchases made.

If one buy an assets, then he or she wants to allocate total purchase price in a way which gives a favorable postacquisition tax results.

In case of taxable asset purchases, the tax credits or the net operating losses cannot be transferred from the target firm to the acquiring firm.

6 0
2 years ago
Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the followin
Tasya [4]

Answer:

See below

Explanation:

The below shows the calculation of variance

Budgeted direct labor (per unit) 0.60

Units 2,000

Budgeted direct total labor (hrs) 1,200

Actual hours 1,160

Standard rate $17

Direct labor efficiency variance

The direct labor efficiency variance

= (Budgeted hours - Actual hours) × Standard rate

= (1,200 - 1,160) × $18

= $720 favourable

7 0
3 years ago
On January 1, 2017, Sunland Industries had cash and common stock of $196000. At that date the company had no other asset, liabil
Dafna1 [17]

Answer:

$32,980

Explanation:

The computation of comprehensive income is shown below:-

Comprehensive income = Cash dividend + Unrealized holding gain

= $11,800 + $31,800

= $32,980

Comprehensive income includes net profit and other complete or compression  profits.

Net revenue involves operating and non-operating income, net of expenses . Other comprehensive profits consisted of unrealized gains or losses, cash flow hedges.

So in this question we considered the dividend and unrealized holding gain as an comprehensive income

5 0
3 years ago
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