Answer: Option (A) is correct.
Explanation:
In a competitive market, when the demand curve i.e. the marginal benefit curve is exactly equal to the supply curve i.e. marginal cost curve and at this point the sum of consumer and producer surplus is maximized then an equilibrium is set in an economy and economic efficiency is obtained.
Inefficiency occurs at a point where there is a disequilibrium in an economy which means that competitive equilibrium is not achieved by the economy.
Answer:
Explanation:
The journal entries are shown below:
On July 1
Prepaid insurance A/c Dr $9,400
To Cash A/c $9,400
(Being the prepaid insurance for cash is recorded)
On December 31
Insurance expense A/c Dr $2,350
To Prepaid insurance A/c $2,350
(Being the insurance expense is recorded)
The computation is shown below:
= Prepaid insurance amount ÷ number of years × number of months ÷ total number of months in a year
= $9,400 ÷ 2 years × 6 months ÷ 12 months
= $2,350
There are several first mover advantages including:
-Brand recognition: better chance of being recognized if you were the first to do something
- Economies of Scale: learn how to perfect and grown in the market before other competitors come along
-Switching costs: when customers are established with the first brand they are less likely to want to spend the money to switch to a new competitor
Answer:
Explanation:
Project schedule management is the allocation of timeframe to the task s to be done for a project to be successful while project scope management show the work that needs to be done.
Defining activities is a process of project schedule management, because it simply concentrates on how and when a task will be carried out while in project scope management l, the focus is on the work that will be performed on a project.
Answer: qualitative
Explanation:
Risk assessment is used in identifying hazards which are likely to result in harm and then determining the appropriate methods to remove such hazard or curtail it.
The type of risk assessment uses descriptive categories to express asset criticality, risk exposure (likelihood), and risk impact is the qualitative risk assessment.