Answer:
a. independent retailer
Explanation:
An independent retailer is a businessperson who owns and manages a retail shop. The retailer either has bought or started the business from the ground. He or she makes all the decisions relating to the business including staffing, sales, financing, and operation time.
An independent retailer has the freedom to decide the type of business and its location. Entry into this type of business is easy. Freedom to do what the retailer wants is one advantage of this type of business.
As the venture is privately owned, the independent retailer has full authority over the business, as if fully responsible for its success or failure. Many businesses of this nature will fail in the first years of operations, mainly due to the lack of a business plan.
The following statement supply curve A is perfectly elastic and supply curve B is perfectly inelastic are correct.
Explanation:
If there is no response from demand to prices and supply curve is vertical then the supply is perfectly inelastic.If there is more change in demand and very less change in price and supply curve is horizontal then the supply is perfectly elastic.
If the elasticity is greater than one that indicates high change in price known as Elastic supply. if the Elasticity is less than one that indicates low change in price then it is said to be Inelastic supply.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Apr. 1: Beginning inventory of 490 units for $2.16
Apr. 20: Purchase 420 units for $2.63
Dunbar sold 570 units of inventory during the month.
Under LIFO (last-in, first-out) method, the ending inventory is integrated by the first units incorporated into inventory.
First, we need to calculate the number of units in inventory:
Ending inventory in units= total units for sale - units sold
Ending inventory in units= (490 + 420) - 570= 340 units
Ending inventory ($)= 340*2.16= $734.4
