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Strike441 [17]
3 years ago
6

g What is one difference between a firm in a perfectly competitive industry and a firm in a monopolistically competitive industr

y? A monopolistically competitive industry does not have a large number of sellers. A monopolistically competitive firm does not face entry from other firms. A monopolistically competitive firm does not choose a level of output where marginal cost is equal to marginal revenue. A monopolistically competitive firm does not have the exact same product as other firms.
Business
1 answer:
algol [13]3 years ago
8 0

Answer:

The correct answer is the last statement.

Explanation:

A monopolistic market has a large number of buyers and sellers. The sellers produce close substitutes. The firms rely on advertising. There is a relatively higher degree of competition and restriction on entry as compared to a perfectly competitive market. The firms are able to maximize profit at the point where marginal cost is equal to marginal benefit.

In a perfectly competitive market, however, there are large number of buyers and sellers. These sellers produce homogenous products. There is no restriction on entry and exit of the new firms. The profit is maximized at the point where price, marginal revenue, and, average revenue are equal to marginal cost.

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Assume that a country with an open economy has a fixed exchange-rate system and that its currency is currently overvalued in the
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Answer: b. The quantity of the country's currency supplied exceeds the quantity demanded.

Explanation:

A country operating a fixed-exchange rate system would be actively trading its currency to ensure that it remains at a certain rate. If the currency is overvalued, it means that the currency is actually weak and is being propped up by the company's actions in the forex market.

A reason for the weakness would be that the supply is higher than the demand of the currency which means that, as per the rules of supply and demand, the currency is trading at a lower price, i,e., it is weak.

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Which of the following statements about operations management in the service sector is most accurate? Operations management in t
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3 years ago
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A person who is skilled at performing calculations, has math skills for advanced analysis, and has organizational skills would b
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Someone with the skills mentioned above would be great as (A) a credit analyst.

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3 years ago
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Pacific Division has the following information:
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Answer:

it will be a net loss of 560,000

It is better to produce at a loss of 60,000 than a loss of 620,000

That's because, the Division cover a good portion of their allocate fixed cost.

Explanation:

The fixed expense are allocate cost. Are unavoidable cost It will remain even if the division is dropped.

The sales and variable cost will be zero.

\left[\begin{array}{cccc}&Continued&Discontinued&Differential\\Sales&1,200,000&0&-1,200,000\\Variable&-640,000&0&640,000\\Allocate cost&-620,000&-620,000&0\\Result&-60,000&-620,000&-560,000\\\end{array}\right]

After posting the values, we calculate the differential income.

In this case it will be a loss for 560,000

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