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2 years ago

A monopolistically competitive firm is one:

Business

1 answer:

Akimi4 [234]2 years ago

5 0

A monopolistically competitive firm is one of many firms that produce slightly different but very similar goods

Exclusive competition occurs when there are many companies offering products that are similar but not identical to the industry. Unlike monopolies, these companies have little power to curb supply or raise prices to increase profits.

There are no barriers to entry in monopoly competition. Therefore, the market is competitive in the long run and companies make normal profits. In monopoly competition, companies are not price takers (fully elastic demand) because they produce differentiated products. Demand is inelastic.

In essence, a monopolistical competitive market is so called because while companies compete to some extent for the same customer group, each company's products are slightly different from all other companies products.

Learn more about monopolistical market here:brainly.com/question/25717627

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marta [7]

Answer:

Indenture

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3 years ago

Refer to the table. what is the total amount of producer surplus (per barrel of oil) earned by all four producers if the market

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Hello! Sorry this is a little late.

I believe the correct answer to your question is $87.75.

I hope this helps, and have a great rest of your day!

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he St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production w

OLga [1]

Answer:

$9000 (unfavorable).

Explanation:

Given: Budgeted fixed overhead= $360000.

Actual fixed overhead=$ 360000.

Actual production= 11,700 units.

The variable overhead rate was $3 per hour.

The standard hours for production were 5 hours per unit.

The fixed factory overhead volume variance is difference between actual production volume and budgeted production. It help in measuring the effecient use of fixed resources. It is termed as favourable if actual fixed overhead exceed the budgeted amount, however, it is unfavorable if the actual fixed overhead is less than budgeted amount.

Now, lets calculate the Actual fixed overhead cost.

Actual fixed overhead cost= $\textrm{actual fixed overhead}\times \frac{Actual\ production}{Budgeted\ production}$

∴ Actual fixed overhead cost= $\$ 360000\times \frac{11700}{12000} = \$ 351000.$

Actual fixed overhead cost= $351000.

Next calculating the fixed factory overhead volume variance.

The fixed factory overhead volume variance= $\textrm{Actual fixed overhead cost}-\textrm{budgeted fixed overhead}$

We know, Budgeted fixed overhead= $360000 and Actual fixed overhead cost= $351000

∴ The fixed factory overhead volume variance= $\$351000-\$360000= \$ 9000 (unfavorable)$

The fixed factory overhead volume variance= $9000 (unfavorable)

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mars1129 [50]

Answer:

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