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3 years ago

A monopolistically competitive market could be considered inefficient because

1 answer:

swat323 years ago

6 0

A monopolistically competitive market could be considered inefficient because price exceeds marginal cost. A monopolistic competitive market is defined as imperfect competition because there are many producers that sell products that differentiate from each other. Because these products differentiate between how they branded and their quality they are not able to be perfect substitutes for one another.

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Business rules apply to businesses and government groups, but not to other types of organizations such as religious groups or re

Wittaler [7]

Business rules apply to businesses and government groups, but not to other types of organizations such as religious groups or research laboratories. this statement is false.

A company is defined as an organization or company engaged in commercial, industrial, or professional activities. A business can be either a commercial enterprise or a non-profit organization. Legal forms range from limited liability companies to sole proprietors, corporations and partnerships.

Business improves quality of life in two ways. First, we provide quality goods and services to people who need them for their enjoyment, comfort and health. Second, businesses provide people with employment opportunities through which they generate income and improve their quality of life. SMEs are important because they provide entrepreneurial opportunities and produce more satisfying and meaningful work than positions in large, traditional companies. Boost your local economy, keep money closer to home, and support your neighborhood and community.

Learn more about Business here

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8 0

2 years ago

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GII estimated the foll

Andru [333]

Answer:

July's direct material flexible−budget variance is $ 1500.unfav

Explanation:

Genent Industries, Inc. (GII),

Budgeted quantity Budgeted price

Direct materials 0.3 pounds $20 per pound

Direct labor 0.7 hours $20 per hour

Actual Price for 15000 pounds and 2,875 DLH

Direct Materials $17 per pound

Direct manufacturing labor hours wages $20.50 per hour.

July's direct material flexible−budget variance is $ 1500. unfav

Budgeted Cost for 4000 containers -Actual Cost for 4000 containers

= $ 24000- $ 25500 = $ 1500

Since the actual cost is greater it is unfavorable

Flexible Budget Variance is obtained by subtracting actual costs from flexible budget costs at a given volume.

1 container requires 0.3 pounds

4000 containers require 0.3 * 4000= 1200 pounds

But actually 1500 pounds were used .

Now costs

Budgeted Costs for 1200 pounds is = 20 *1200= $24000

Actual Costs for 1500 pounds is = 17* 1500 = $ 25 500

8 0

3 years ago

A strong project matrix is different from a weak matrix in that _____: a. In a strong project matrix the functional manager is s

hram777 [196]

Answer:

Option (b) is correct

Explanation:

The reason is that in the in a strong project matrix, the functional manager has decisions making authorities where’s the project manager has more power in terms of authority. He is able to make changes in his team to manage the time, cost and quality of work done.

4 0

3 years ago

Which of the following is a reason to purchase bonds

Anna11 [10]

To receive a specific reliable return on your investment.

It is a specific return because it is pre-set and you know what you can expect to get up front. It is reliable because bonds are low risk and generally safe investments.

Low risk/low reward.

5 0

4 years ago

Most resources are nonrenewable, and wants and needs are limited. This is an example of?

dimulka [17.4K]

Answer:

scarcity.

Explanation:

Scarcity can be defined as an economical problem that gives the relationship between non-renewable (limited) resources and the limitless wants and needs of consumers.

Basically, it's very important that producers of goods and services make decisions that would help them on how to efficiently allocate scarce or limited resources, in order to meet the unending requirements, wants and needs of consumers.

In Economics, an example of scarcity is that most of the resources used for the manufacturing of finished goods and services are nonrenewable, and as a result, the wants and needs of the end users or consumers are limited. Thus, economists would advise that economies should decide on what to produce, how to produce, when to produce and for whom to produce due to the finite and limited nature of resources i.e the concept of scarcity.

3 0

3 years ago