A monopolistically competitive firm faces a downward sloping demand curve and so it is a price searcher.
The demand curve for monopolistically competitive firm will be considerably more elastic than the demand curve that a monopolist faces because the monopolistically competitive firm has a very less control over the price that it can charge for its output.
The firm's control over its price will largely depend on the degree to which its product is differentiated from competing firms' products.
The monopolistically competitive firm will be a price‐searcher rather than a price‐taker because it faces a downward‐sloping demand curve for its product.
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Answer:
Economic theory' five pillars are opportunities, trade-offs, the expense of opportunity, marginal valuation as well as the theory of value-creating exchange.
In simple words, opportunity cost refers to the cost of losing profits by choosing one alternative over the other. Thus, if Caroline choose to got to music concert, her opportunity cost would be the loss of privilege to be at shopping or dinner. Same applies to other two options.
Answer:
Depreciation for 6 months ending June 30, 2016 is $ 5,000 and the accounting entry to record the transaction is:
Depreciation Expense - Debit $ 5,000
Allowance for Depreciation - Credit $ 5,000
Explanation:
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Answer:
Secondary, or desk research, is a way of gathering research from published sources.
Explanation:
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I’d go with D. all of the above