Answer: underallocated because long-run equilibrium occurs where price exceeds marginal cost.
Explanation:
Monopolistic competition occurs when there are many firms that are producing products that are differentiated. It should also be noted that one typical characteristics of a monopolistic competition is a large number of firms coupled with low entry barriers.
It should be noted that in monopolistically competitive markets, resources are underallocated because long-run equilibrium occurs where price exceeds marginal cost..
Answer:
(D). surrogate interaction and direct interaction.
Explanation:
Process Chain Network (PCN) analysis involves designing an organization's processes in such a way that it brings about better interaction with customers.
The PCN analysis highlights three process areas which are; <u>surrogate interaction, direct interaction</u> and independent processing areas.
<em>Service operations only exist within the areas of </em><em>surrogate interaction and direct interaction</em><em>, because they require more interaction with customers and are more personal in nature.</em>
The Board of Directors does not define the selling price when authorizing the issuance of bonds.
An executive body that jointly manages an organization's activities is called a board of directors. This group could be a business, a nonprofit, or a government entity. It could also be for-profit. The board of directors' responsibilities and authority are governed by governmental regulations as well as the organization's own bylaws and constitution. These authority may specify the number of board members, how they will be chosen, and how frequently they will meet. The board of such an organization is accountable to and may be subordinate to the entire membership, who normally elect the board members in organizations with voting members. In a stock corporation, non-executive directors are elected by the shareholders, and the board has the following authority.
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Answer:
D. The halo effect
Explanation:
Bias occurs when an individual lacks objectivity and impartiality in making decisions. There are various kinds of bias. However, in this scenario, the bias associated with here is the halo effect. The halo effect is a form of bias in which an individual opinion or feel concerning an individual or an event is influenced by the impression the individual gets from the other individual or event. It is when an overall judgement is made on an individual based on some specific characteristics or traits of the person. In this case, because of the polite and nice characteristics of the salesperson, Jarvis assumes that she's an effective salesperson. Of which those characteristics has nothing to do with effectiveness in sales.
Answer:
units completed and ending work in process.
Explanation:
Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.
Basically, when manufacturing overhead costs of a business firm or company are applied to the cost of production in a process costing system, they are debited to the Work-in-Process inventory account.
In the manufacturing process, partially or partly completed goods that are still in the process of being converted into a finish product are defined as work-in-process inventories.
Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.
The equivalent-unit calculations is done by multiplying the number of partially completed physical goods by the percentage of completion.
Hence, equivalent-unit calculations are necessary to allocate manufacturing costs between units completed and ending work in process.
