Answer: the correct answer is a. the competitive firm will attain resource-allocative efficiency, but the monopolist will not
Explanation: the monopoly will not attain allocative efficiency because in theory a monopoly won't lose a single customer even if it raises prices since it is the only company in the market selling that product.
Answer: The correct answer is "e. Choose an input that varies in a pattern that is most similar to the pattern with which overhead costs vary".
Explanation: When selecting a volume-based cost driver, the goal is to: <u>Choose an input that varies in a pattern that is most similar to the pattern with which overhead costs vary, </u>so that it does not find so much difference between both patterns, so that these are similar.
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Answer:
True
Explanation:
unstructured organizational can as well be regarded as "decentralized organization" it can can simply explained as one with little bureaucratic or hierarchical structure. In an unstructured organizational decision, the decision maker needs to make provision for insight and evaluation for the problem definition, because in this unstructured organizational decision every decision is crucial and there is no or little procedures to follow in making these decisions. It should be noted that in unstructured organizational decisions, few or no procedures to follow for a given situation can be specified in advance.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Uptown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,500,000. If Uptown Athletic reported ending inventory of $500,000 and sales of $2,000,000.
Cost of goods sold= beginning inventory + purchase - ending inventory
COGS= 400,000 + 1,500,000 - 500,000= 1,400,000
Sales= 2,000,000
COGS= 1,400,000
Gross profit= 600,000 30%
Answer:
Price elasticity of supply=1.67
Explanation:
Price elasticity of supply is a measure of the degree of responsive of supply to a change in price . It is computed using the formula below:
% change in Quantity supply/% change in price
% change in Quantity supply= 125,000-150,000/150,000× 100=16.67%
% change in price = (2.70-3.00)/3.00× 100= 10.00%
Price elasticity of supply = 16.67/10.00=1.67
Price elasticity of supply=1.67
