Answer:
B) adaptive
Explanation:
Based on the scenario being described it can be said that this form of expectations formation is known as adaptive expectations. These are expectations formed from a process in which individuals predict what will most likely occur in the future based on the data of what has already happened in the past.
Answer: AGREE
Explanation:
A Monopoly faces no competition and are the only sellers of the product they sell. If firms in an industry successfully engage in collusion, the resultant effect will definitely be not unlike a Monopoly because they will set prices as a single firm, control output as a single firm and essentially run the market as a single firm.
They will sell at a rate where the Marginal Revenue curve will be below the demand curve. This will mean a higher price than a competitive market which was probably the main incentive for collusion.
A recent example would be the collusion between BMW, Daimler and Volkswagen, to hinder technological progress in improving the quality of vehicle emissions in order to reduce the cost of production and maximize profits. Thankfully this was busted by the European Commission in 2019.
Answer:
The correct options are:
A. Debit to Factory Overhead
D. Credit to Factory Utilities Payable
Explanation:
The debit entry of the use of utilities in a factory would be recorded in factory overhead since cost of utilities is a not a direct factory cost.
However, the corresponding credit would be in the factory utilities payable as an obligation awaiting payment to be made to the supplier of the service being enjoyed by the factory in order to run on daily basis