1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
musickatia [10]
1 year ago
12

If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market

power will______.
Business
1 answer:
Thepotemich [5.8K]1 year ago
5 0

If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will set a lower price in the market that is more price elastic. Price elasticity is a tool used by economists to analyze how supply and demand for a product fluctuate in response to price changes.

Along with demand, supply also exhibits elasticity, which is referred to as price elasticity of supply. Price elasticity of supply is the correlation between price change and supply change. It is computed by subtracting the percentage change in price from the percentage change in quantity delivered.

To learn more about elasticity, click here.

brainly.com/question/13479805

#SPJ4

You might be interested in
Each of the following situations occurred during 2011 for one of your audit clients:1. The write-off of inventory due to obsoles
In-s [12.5K]

Answer:

Situations during 2011 at an Audit Client

A. Appropriate Reporting Treatments:

1. Write-off of inventory due to obsolescence.

a. As an extraordinary item.

2. Discovery that depreciation expenses were omitted by accident from 2010's income statement.

c. As a prior period adjustment.

3. The useful lives of all machinery were changed from eight to five years.

f. As a change in accounting estimate.

4. The depreciation method used for all equipment was changed from the declining-balance to the straight-line method.

g. As a change in accounting estimate achieved by a change in accounting principle.

5. Ten million dollars face value of bonds payable were repurchased (paid off) prior to maturity resulting in a material loss of $500,000. The company considers the event unusual and infrequent.

b. As an unusual or infrequent gain or loss.

6. Restructuring costs were incurred.

b. As an unusual or infrequent gain or loss.

7. The Stridewell Company, a manufacturer of shoes, sold all of its retail outlets. It will continue to manufacture and sell its shoes to other retailers. A loss was incurred in the disposition of the retail stores. The retail stores are considered components of the entity.

e. As a discontinued operation.

8. The inventory costing method was changed from FIFO to average cost.

d. As a change in accounting principle.

B. Inclusion in the Income Statement:

1. CO

2. RE

3. CO

4. RE

5. BC

6. BC

7. BC

8. CO

Explanation:

1. Investopedia.com defined "Unusual or infrequent items" as "gains or losses from a lawsuit; losses or slowdown of operations due to natural disasters; restructuring costs; gains or losses from the sale of assets; costs associated with acquiring another business; losses from the early retirement of debt; and plant shutdown costs."

2. Extraordinary gains or losses are economic events which originate from continuing infrequent and unusual operations.  These gains and losses stem from the normal business activities of the company, but, they do not happen regularly, and are abnormal in nature.

3. A prior period adjustment is the correction of a past accounting error that occurred in the past financial statements.

4. According to investopedia.com, "A change in accounting principle is a change in how financial information is calculated, while a change in accounting estimate is a change in the actual financial information.  Changes in accounting principles are done retroactively, where financial statements have to be re-stated.  But, changes in estimates are not applied retroactively.

6 0
3 years ago
what are the similarites and differences between the business ventures of the wander girls and roxanne quimby
Dimas [21]

People are known to engage in business every day. The answers to the question is below;

<h3>The similarities  between the business ventures of the Wander Girls and Roxanne Quimby</h3>

  • Their businesses are both founded by women.
  • They both encourages women in business ventures and other areas.
  • They both encourages women to take care of themselves and not neglect themselves.
  • They are advocate for self love for women.

<h3>The differences between the business ventures of the Wander Girls and Roxanne Quimby.</h3>

  • Wander Girls are into travels specifically for women while Roxanne Quimby is into personal-care brand.
  • Wander Girls is into service delivery while the other is into product delivery.

Roxanne Quimby is famous as she sell Burts Bees, a natural personal care brand. Elisha Brock, is known to be the founder of Wander Girls. It is an online community that aids and encouraging women to take themselves out by travel with the right resources and person.

Learn more about  Business from

brainly.com/question/24553900

8 0
2 years ago
Indicate the type of Deferred Tax account created by Unearned Revenues and Prepaid Expenses, respectively:
irina [24]

Answer:

The answer is Deferred tax asset and Deferred tax liability.

Explanation:

Unearned revenue creates deferred tax asset. In here, taxes have been paid because income has been received but have not been recognized on the income statement because according to the revenue recognition, the services for the revenue has not been rendered.

Prepaid expenses give rise to deferred tax liability. In here, taxes have been recognized on income statement but the actual tax has not been paid. Income tax expense on income statement is greater than taxes payable

5 0
2 years ago
A graduate student wants to examine the effect of print media versus televised media on individuals' position on several social
Phoenix [80]
<span>The student's IRB should reject the project because the student is treating the prisoners as subjects and conveniences. The student is only concerned about her research and is not really worrying about the prisoners, which could be viewed as inhumane. Even if the project were approved, the student would be put into a dangerous environment which would not be wise.</span>
6 0
3 years ago
Dawn's bridal boutique is having a sale on evening dresses. The increase in consumer surplus comes from the benefit of the lower
torisob [31]

Answer:

both existing customers who now get lower prices on the gowns they were already planning to purchase and new customers who enter the market because of the lower prices.

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Consumer surplus = willingness to pay – price of the good

Let assume that the price before the sale and after the sale is $1000 and $800. The willingness to pay of customer A is $1500 and for customer b is $900

consumer surplus of customer A before sale = 1500 - 1000 = 500

consumer surplus of customer A after sale = 1500 - 800 = 700

consumer surplus of customer B before sale =  0

consumer surplus of customer B after sale = 900 - 800 = 100

consumer surplus of both customers increase

6 0
3 years ago
Other questions:
  • _________are places that sell merchandise from a single manufacturer, usually at lower prices than other retailers.
    7·2 answers
  • Which of the following does not influence parent-child relationship​
    12·1 answer
  • A(n) ___ service provides an electronic version of an invoice with all of the details
    11·1 answer
  • Which type of accounting information is intended to satisfy the needs of external users?
    5·1 answer
  • Quick Corp. has $270,000 of outstanding accounts receivable. On March 10, 1988, Quick assigned a $30,000 account receivable due
    15·1 answer
  • If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the fi
    9·1 answer
  • There is a 3 percent error rate at a specific point in a production process. If an inspector is placed at this point, all the er
    8·1 answer
  • 5) Ryans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.
    14·1 answer
  • Explain which of the 5 Management Functions is your strength and weakness? Planning, Organizing, Staffing, Implementing, and Org
    5·1 answer
  • How to plan for a turbulent environment surrounding the current pandemic​
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!