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VLD [36.1K]
1 year ago
13

demand and marginal revenue curves are downward-sloping for monopolistically competitive firms because

Business
1 answer:
Brrunno [24]1 year ago
6 0

Demand and marginal revenue curves are downward-sloping for monopolistically competition firms because: a. product differentiation allows each firm some degree of monopoly power.

<h3>What is product differentiation?</h3>

Product differentiation  can be defined as what makes a product to different from another product which is why some producer tend to include a unique features in their so as to make their product distinct from that of others.

A monopolistic competitive firms can tend to  face a downward - sloping demand curve based on the fact that it help to differentiate their product from that of others competitors.

Therefore the correct option is A.

Learn more about Product differentiation here: brainly.com/question/8107956

#SPJ1

The complete question is:

Demand and marginal revenue curves are downward-sloping for monopolistically competition firms because...

a)product differentiation allows each firm some degree of monopoly power

b)there are a few large firms in the industry and they each act as a monopolist

c)mutual interdependence among all firms in the industry leads to collusion

d)each firm has to take the market price as given

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Holliday Company's inventory records show the following data:
Cerrena [4.2K]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Inventory:

January 1: 5,000 units $9.00

Purchases:

June 18: 4,500 units $8.00

November 8: 3,000 units $7.00

A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method.

Units sold= 10,500

FIFO:

COGS= 5,000*9 + 4,500*8 + 1,000*7= 88,000

Sales= 12*10,500= 126,000

COGS= (88,000)

Gross profit= 38,000

Tax= 38,000*0.2= (7,600)

Net operating income= 30,400

LIFO:

COGS= 3,000*7 + 4,500*8 + 3,000*9= 84,000

Sales= 12*10,500= 126,000

COGS= (84,000)

Gross profit= 42,000

Tax= 42,000*0.2= (8,400)

Net operating income= 33,600

Tax difference= LIFO - FIFO= 8400 - 7600= $800

6 0
3 years ago
Calculate the percentage rate management fees on the following: $575 adjusted per-unit fee, 50 total units, $600,000 annual gros
arlik [135]

Answer:

19.1% management rate.

Explanation:

Adjusted fee charge per unit = 575

Adjusted fee charge for total unit of product = 575 * 50 = $28750

Net after feel charge on goods = 600000 - 28750 = $571250

15% vacancy and loss rate = .15 * 571250 = $85687.5

Total management fee per year = $114437.5

Percentage rate management fee = (114437.5/600000) *100

= 19.1 %

8 0
3 years ago
Samantha is the store manager of a sporting goods store. A customer came in to return a fishing reel because the reel did not wo
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The type of account Samantha should recod the transaction is the contra account.
8 0
3 years ago
Mike, a minor, buys some real estate as an investment. The contract obligates Mike to make monthly installment payments for 10 y
yawa3891 [41]

Answer: d. mike cannot disaffirm because he has already ratified the contract

Explanation:

When signing deals it's important to consider long term, this helps to make the best decision in any and most scenario. Most deals signed too cannot be reversed or change or adjusted because it'll affect the policy of the organization and won't be health for them. Mike has agreed to buy a property through a spread payment plan, changing the deal now after some years will not be possible as it distorts the plan intially agreed and goes against the policy of the organization selling the home.

5 0
3 years ago
Nelson Industries makes widgets using a two-step process that involves machining first and assembly second. In the Machining Dep
Shtirlitz [24]

Answer:

The answer is: D

Explanation:

At the end of the financial year, manufacturing companies have to assign costs to the goods which they produced in that period. At year end, the production does not stop, therefore, there could be items still in production at reporting date. In order to give as accurate information as possible, the company has to cost the production items with an estimate of the total items produced. Equivalent units of production refer to the summation of items that have been started and completed during the reporting period and the items still undergoing production at their estimated stage of completion. This provides an approximation of the total units of production, had the incomplete items been counted as complete at their estimated stage of completion.

Example: if 3,000 units were started and completed during the period and 2,000 units were in closing inventory at 60% completion, then the total equivalent units of production would be equal to 4,200 units (3,000 + (2,000*60)).

Using the First in First Out Method:

Equivalent units of Production =  Total units completed during the period + Units in Ending WIP

Note1: the question indicates the equivalent units of production for the <u>materials</u> in the Machining Department.

Materials are introduced at the beginning of the production process, making them 100% complete at the end of the period. Equivalent units of production for materials is therefore 12,600(8,600+4000)

Note2: 8,600 from the above calculation consists of:

Opening balance of 6,000 units at 100% completion - Materials

Started and completed during the period 2,600 units -Materials

4,000 units in the closing balance are 100% complete in terms of Materials

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