Answer:
1. A monopolistically competitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location.- True
2.Product differentiation enables a monopolistically competitive firm to have some control over the price of its product- True
3.In the long run each monopolistically competitive firm produces a level of output that results in allocative efficiency.- False
4. In the long run each monopolistically competitive firm produces a level of output that results in productive efficiency- False
5.To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. -True
6. Compared with purely competitive markets, under monoplistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. -True
7.In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.True
Explanation:
Answer:
$1,524 underapplied
Explanation:
Predetermined overhead rate = Estimated Manufacturing Overhead ÷ Estimated Activity.
= $560,324 ÷ 22,060
= $25.40
Applied Overheads = Predetermined overhead rate × Actual Activity
= $25.40 × 22,000
= $558,800
<em>Where,</em>
Actual Overheads are $560,324 (given)
<em>Conditions :</em>
If Actual Overheads > Applied Overheads, we say overheads are under-applied and if Actual Overheads < Applied Overheads, we say that overheads are over-applied.
<em>Therefore ,</em>
In our case, Actual Overheads : $560,324 > Applied Overheads : $558,800. Overheads have been under-applied by $1,524 ($560,324 - $558,800).
Answer:
there are no options there ....
hope you may add the options
This seems like a rather subjective question. Wealth is built over a lifetime with income. Inheritance is definitely one way to become wealthy, so I would say <u><em>True </em></u>
Answer:
$196448
Explanation:
Since the central bank has increased the money supply by $231115 but the reserve ratio is maintained at 15%, this means that 85% of the money is being injected in the form of money supply.
Hence, the maximum increase in money supply, the 85% of $231115 is: $196448.
Hope this helps.
Thank you and Good luck.
