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Nikolay [14]
2 years ago
9

Compared to the perfectly competitive firm, the monopolist faces a demand curve that is ___________________ elastic because ther

e are ______________ substitutes for the product produced by the monopolist.
Business
1 answer:
poizon [28]2 years ago
5 0

fewer; less

Compared to the perfectly competitive firm, the monopolist faces a demand curve that is less elastic because there are fewer substitutes for the product produced by the monopolist.

<h3>What is the demand curve faced by a perfectly competitive firm and a monopolistic?</h3>

A firm's demand curve is perfectly elastic under perfect competition because it can sell any quantity of commodities at the going rate. Therefore, even a slight price rise will result in no demand. This suggests that the company has no influence over price. Large businesses, on the other hand, that are subject to monopolistic competition, deal with differentiated products based on brand. As a result, the demand curve has a decreasing slope and enjoys monopoly power. Only by lowering the price of the product and selling close substitutes will it be able to sell more goods. As a result, under perfect competition, the demand curve facing a firm is perfectly elastic, while under monopolistic competition, it is less elastic.

Learn more about demand curve here:

brainly.com/question/13828738

#SPJ4

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Biltz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. During
Fiesta28 [93]

Answer:

manufacturing overhead underallocated for the year $124,102.4

Explanation:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

we distribute the expecte rate over the cost dirver

582,100 / 135,000 = 4.3185

150400 x 4.3185 = 649502.4 applied overhead

applied - actual = over or underappied

if actual > applied = underapplied

if actual < applied = overhead

525,400 - 649,502.4 = -124,102.4

3 0
3 years ago
A team is trying to determine the best process type for producing a new product family. The product consists of a base model wit
Natali5045456 [20]

Answer:

The correct answer is the option A: Cell

Explanation:

To begin with, the name of "Cellular Manufacturing" is known in the business field for being one type of manufacturing process that can be selected among others in order to use it as the method of excellence to produce the good that the company wants to sell. Moreover, this type of process is characterized by the fact that the process involves a number of various machines that do a task in particular, called cells, that can easily change that task in order to do another one that the manufacturer will need so that implicates that this type of method is very helpfull in those companies who develop products that are intended to be changed continuously.

7 0
3 years ago
A small business produces a single product and reports the following​ data: Sales price ​$8.50 per unit Variable cost ​$5.25 per
ozzi

Answer:

The correct answer is Decrease by $5,500.

Explanation:

According to the scenario, the computation of the given data are as follows:

First we calculate the previous operating income, by using following formula:

Previous operating income = ($8.5 - $5.25) × 10,000 units - $22,000

= $10,500

Now, we will calculate the current operating income by using following formula:

New operating income = ($7.5 - $5.25) 12,000  units - $22,000

= $5,000

So, the change in operating income can be calculated as

Change in operating income = New operating income - Previous operating income

= $5,000 - $10,500

= -$5,500 ( Negative shows Decrease)

= Decrease by $5,500.

8 0
3 years ago
Scenario 13-6 Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As
marysya [2.9K]

Answer:

total cost of farming = $380

so correct option is d. $380

Explanation:

given data

cost of seeds = $130

Farmer Ziva charges = $25

time = 10 hours

solution

so total cost of farming is calculated as

total cost of farming = cost of seeds + opportunity cost

so put value

total cost of farming = $130 + ( $25 × 10 )

total cost of farming = 130 + ( 250 )

total cost of farming = $380

so correct option is d. $380

4 0
3 years ago
In order to produce 100 pairs of oven gloves, Marcia incurs an average total cost of $2.50 per pair. Marcia’s marginal cost is c
anygoal [31]

Answer:

option (d) $200.00

Explanation:

Average total cost for 100 pairs = $2.50

Marginal cost for every pair = $10.00

Now,

Total cost = Fixed cost + Variable cost

or

Fixed cost = Total cost - variable cost

or

Fixed cost = (Average total cost × 100) - (Marginal cost × 100)

= ($2.5 × 100) - ($1 × 100)  

= $250 - $100  

= $150

thus,

Total cost to produce 50 pairs of oven gloves

= fixed cost + variable cost

= $150 + (50 × $1)

= $150 + $50

= $200

Hence,

option (d) $200.00

6 0
3 years ago
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