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Paha777 [63]
2 years ago
10

1. Demand curves faced by individual firms in a competitive market are thought to be perfectly elastic while the demand curve fa

ced by a monopolist is much steeper. a. Why do individual firms in a competitive market face a perfectly elastic demand curve? b. Why do monopolists face a downward sloping demand curve? c. Compare the MR curves for a competitive firm and a monopolist
Business
1 answer:
eimsori [14]2 years ago
5 0

Answer:

A). The demand curve looked by the flawlessly serious firms are splendidly versatile this is a result of the items selling in the ideal rivalry. The items are indistinguishable so no firm has power over the market cost, in the event that one firm builds the cost of the item the purchasers will quickly move to the result of different firms on the grounds that the items are indistinguishable. No firm has the motivator lessen the cost of their item. So the interest bend would be a level straight line corresponding to the X pivot, this demonstrates the interest is splendidly versatile. A cost increment will bring the amount requested to zero.  

B). The monopolists is just the single vendor in the market, so he can charge any value he needs, yet the amount requested will be relied on the value he charges. For instance in the event that he charges a significant expense the amount demanded will be very less and the other way around. So the monopolist is capable sell more at lower costs just, the descending inclining request bend shows the negative connection between the cost and the amount requested.  

C). In the ideal rivalry there is consummately flexible interest so the MR curve is likewise the interest curve of the firm. For the monopolist the MR curve lies underneath the interest curve, as the costs go bring down the MR decreases.

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1 year ago
On February 20, services valued at $60,000 relating to the organization of a corporation were performed in exchange for 1,000 sh
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Answer:

Explanation:

The journal entry is shown below:

On February 20

Organization expense A/c Dr     $60,000

          To  Common Stock A/c $25,000       (1,000 shares × $25)

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3 years ago
2. Lereve Company has recorded the following information about the results of its operations for the fourth quarter: Sales reven
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Answer:

Lereve Company

Segmented Income Statement for the fourth quarter:

                                   Total Company  Western Division  Eastern Division  

Sales revenues           $200,000              $80,000              $120,000

Variable cost of sales     60,000                 30,000                  30,000

Contribution                $140,000               $50,000               $90,000

Fixed costs:

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Traceable                       50,000                  20,000                 30,000    

Net Income (Loss)       ($10,000)                 $5,000              ($15,000)

The results show that the Eastern Division made a net loss of $15,000 and the Western Division raked in a net income of $5,000, which resulted in the company-wide net loss of $10,000.  This loss could be traced to the allocated common fixed costs of the division, because its contribution to fixed costs was substantial and better than the Western Division's.

Explanation:

When the results of the operations of a divisional company like Lereve Company are prepared in segmental form, the performance pictures become clearer.  Management is enabled to focus on the segments or the factors that are generating the loss to the company.  Perhaps, as in this case, the problem may not be with the division, but the allocation of fixed costs to the divisions.  It can still be traced to the company as a whole, since it is generating much more fixed costs than it could afford from its revenue.

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