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2 years ago

Do consumers benefit in any way from monopolistic competition relative to perfect competition?

1 answer:

4 0

Compared to perfect competition, when a consumer purchases a product from a monopolistically competitive firm, the consumer benefits from purchasing a product that is more closely suited to their tastesis more closely suited to their tastes.

In the monetary concept, best competition happens when all agencies promote identical products, marketplace proportion does now not affect the rate, groups are able to input or exit without barrier, consumers have the best or complete records, and companies can not determine fees.

In economics, specifically trendy equilibrium idea, a great marketplace, additionally called an atomistic marketplace, is described by several idealizing situations, collectively referred to as ideal opposition, or atomistic competition.

Perfect competition is a monetary term that refers to a theoretical marketplace shape in which all providers are identical and usual supply and demand are in equilibrium. For instance, if there are numerous firms producing a commodity and no person firm has a aggressive gain, there is ideal opposition.

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A company's retained earnings at the beginning of the year is $1 million. It paid $100,000 in dividends, had $250,000 in net inc

mixer [17]

Answer: <em>$1,160,000</em>

Explanation:

Given:

Retained earnings (beginning) = $1 million

Dividend paid = $100,000

Net income = $250,000

Goodwill increased by = $10,000

Therefore, we'll compute Retained earnings (end of the year) as:

Retained earnings (end of the year) = Retained earnings (beginning) + Net income + Increase in Goodwill - Dividend paid

Retained earnings (end of the year) = $1,000,000 + $250,000 + $10,000 - $100,000

Retained earnings (end of the year) = $1,160,000

6 0

3 years ago

Lenox China Co. would like to get its annual Christmas ornament series into Macy's department stores. Macy's has a buying office

dezoksy [38]

Answer: Option (B)

Explanation:

Here, in this particular case we can state that Lenox would use <em>personal selling </em>as the promotional element in order to reach their Macy's buyer. Personal selling is referred to as use of individuals by businesses in order to sell their commodity after meeting their respective clients face-to-face. The sellers mostly tend to advance the commodity through their belief, conviction appearance and the knowledge regarding the commodity.

5 0

3 years ago

Gell Corporation manufactures computers. Assume that Gell:

kkurt [141]

Answer:

$83,000

Explanation:

The computation of the actual manufacturing overhead cost is shown below:

= Indirect labor + depreciation on plant + machinery repair + plant supplies + plant utilities

= $11,000 + $48,000 + $11,000 + $6,000 + $7,000

= $83,000

Only these five items would be considered as a actual manufacturing cost. The rest of the items would be ignored

5 0

3 years ago

Tax incidence indicates

Varvara68 [4.7K]

Tax incidence shows the dividion of tax burdent between buyer and seller.
so, the correct answer should be C.

7 0

3 years ago

f there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when Group of ans

solniwko [45]

Answer:

Explanation:

When there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when the MPP of the first factor divided by its price is equal to the MPP of the second factor divided by its price.

The least cost rule evaluated two factors of production. Let's say labor and capital. production at least cost has the requirements that labor’s marginal product divided by its price is equal to capital’s marginal product divided by its price.

6 0

4 years ago