<h2>
Cost of goods sold of Baxter's Company = 3,06,000</h2>
Explanation:
Cost of goods sold = +Purchase + Direct Exp+ Opening Inventory - Closing Stock
85,000 + 3,23,000 - 1,02,000 = 3,06,000
Monopolies engage in price discrimination possible because they can get away with it.
A monopoly is where only one seller sells a particular good. Because of this, the seller has the power to dictate the price of the good to the extend of giving the good the highest price possible that a consumer is willing to pay.
Consumers must pay the price of said product because they can not get the same product from any other seller.
Answer:
B
Explanation:
A firm is an organisation that is created to make profit. They transform resources into products
They include :
- corporations
- limited liabilities
- partnerships
