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Julli [10]
3 years ago
8

Which of the following is a characteristic of monopolistic competition? rev: 05_15_2018 Multiple Choice relatively easy entry a

relatively small number of firms standardized product absence of nonprice competition
Business
1 answer:
CaHeK987 [17]3 years ago
6 0

Answer:

The correct answer is relatively easy entry.

Explanation:

Monopolistic competition is a market structure in which there are a large number of firms, the entry into the market is relatively easier than monopoly. These firms produce differentiated products which are close substitutes.  

The firm is a price maker and faces a downward-sloping demand curve. Unlike oligopoly decision of a firm does not affect its competitors. Though these firms do not show productive or allocative efficiency. They have excess capacity in the long run.

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Mcmurtry Corporation sells a product for $250 per unit. The product's current sales are 13,600 units and its break-even sales ar
timofeeve [1]

Answer:

22%

Explanation:

Margin of Safety is the amount by which sales can fall before making a loss.

Margin of Safety = Expected Sales - Break-even Sales ÷ Expected Sales

                           = (13,600 - 10,608) ÷ 13,600

                           = 0.22 or 22%

8 0
2 years ago
The philosophical leaders of the quality movement, Philip Crosby, W. Edwards Deming, and Joseph M. Juran, had the same general m
Nataly [62]

Answer:

The correct answer is A. Quality is free.

Explanation:

Deming's main interest was the application of statistical techniques since he was trained in the group of Walter Shewart, who developed the methods of statistical quality control (SQC). It was Deming who introduced the statistical quality control methods in Japan after World War II, and which underpin Kaoru lshikawa's approach to total quality control.

His proposal is the basis for the transformation, adoption and performance of the administration applied both in small and large organizations, whether they are services or dedicated to the manufacture of goods, these are known as the Deming philosophy for quality .

The thinking of Juran, as well as that of the other quality philosophers, is focused on ensuring that companies achieve and maintain quality leadership, define the roles of senior managers to lead their companies towards that objective and dispose of the means to be used by managers for that leadership.

Juran bases his theory on quality on the observations made to the Japanese and their strategies used, which included:

• Senior management occupation

• Training for all functions and at all levels

• Quality improvement at a continuous and revolutionary rate

• Participation of the workforce through quality control circles

The evaluation of the characteristics of the product begins by asking customers how they evaluate quality; and the task of senior managers will be to ensure that company manuals and information include clear definitions of the word quality.

7 0
3 years ago
A company purchased inventory on January 1, 20X2, for $600,000, and uses the FIFO method. On December 31, 20X2, the inventory ha
bagirrra123 [75]

Answer:

See below

Explanation:

It is to be noted that under IFR, inventories are carried at a lower of cost or net realizable value, which is $550,000 in this scenario.

Also, under the United states GAAP, inventories are carried at a lower of cost or market . Here, the replacement cost of $525,000 would be used because it is below NRV and its equal to the difference between NRV and normal profit margin.

7 0
2 years ago
Explain demand of money​
krek1111 [17]

Answer:

In monetary economics, the demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits rather than investments. It can refer to the demand for money narrowly defined as M1 (directly spendable holdings), or for money in the broader sense of M2 or M3.

Explanation:

7 0
2 years ago
The BEST example of a company resource is
kumpel [21]

Answer:

The correct answer is letter "A": having proven technological expertise and an ability to churn out new and improved products on a regular basis.

Explanation:

Resources are all those components that organizations use for production. Mostly known as the factors of production they are:  

  • Land: <em>physical territory where the company handles its operations including its raw materials. </em>
  • Capital: <em>monetary resources, machinery, </em><u><em>technology</em></u><em>, and buildings. Social and intellectual capital. </em>
  • Labor: <em>people performing physical and intellectual work. </em>
  • Entrepreneurship: <em>innovation to use the land, capital, and labor at its maximum level possible.</em>

<em />

Therefore<em>, technology is a source useful for production from where companies can create other goods. Combined with expertise it could represent a competitive advantage that allows firms to outstand.</em>

5 0
2 years ago
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