Answer:
d. Many firms are working together to eliminate pollution
Explanation:
Coase theorem is a private solution for the two parties who agree to reduce externalities, i.e., pollution. They negotiate in such a manner that the costs are low as one party takes over other party's polluted assets to reduce pollution. When there are more parties or firms involved to eliminate pollution, it will pose high transaction costs. Therefore, the Coase theorem will not work in that case. So, the option "D" is the correct choice.
Answer:
monopolistically competitive industry.
Explanation:
this Asian restaurant is likely operating a monopolistically competitive industry. This kind of market structure is a combination of monopoly and competitive market. as it offers products and services which one similar. Also the question says that it has some barriers to entry, which is a characteristic of monopolistically competitive industry. Also goods are similar but not differentiated
Answer: There will be a surplus at the increased price.
Explanation: Acc. to the law of demand as the price of a good rises the quantity demanded for the good will fall. This is represented by a movement up along the demand curve.
Acc. to the law of supply as price of a good rises the sellers will supply more units of the good. This is represented by a movement up along the supply curve.
At the increased price, there will be a surplus in the market given by Q's - Q'd.
Eventually, the surplus will lead to a fall in the price of pants till demand for the good is equal to its supply.
Answer:
No adjusting entry required
Explanation:
When the contract was formed and advance was received the company must had recorded the following entry:
Dr Cash Account $5000
Cr Unearned Revenue $5000
Now it is the year end and till now the goods are not delivered which means advance that was received is still our unearned revenue So no further entry is required until the delivery of the goods ordered to the customer.
Correct entry is "No adjusting entry required"
This is also known as the three duties towards the customer DAD Dealing with Honesty. Accounting for all funds and Disclosing the material facts to the buyer.
<h3>Who is a buyer?</h3>
A buyer is a customer who purchases the goods and or services of a company through which the company generates the revenue and earn profits. The buyer plays a key role in the development and running of a company.
The buyer should be allowed to have all the information about the product or service it is going to purchase, the buyer should be informed about the market rates and the demand of the goods as this is a material fact about the product.
Therefore it is a duty that a seller owes to the buyer to deal with honesty that is not charging high price if they are unaware of the price of the product.
Learn more about Buyer at brainly.com/question/27282505
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