Answer:
O the perceived demand and marginal revenue curves for each firm will shift to the left.
Explanation:
Monopolistically competitive industry is an industry that has many firms that produce similar but differentiated products. The products are differentiated through branding.
As more firms enter the industry, both the perceived demand and marginal revenue curves for each firm industry will shift to the left. This is because, new firms have made available more substitutes to existing products making the demand for existing products to reduce. As the demand reduces, demand curve shift to the left, and this also makes marginal revenue to shift to the left.
Automobile dealerships usually follow “product distribution franchises”
Product distribution franchises meaning: Distribution Franchise, these product-driven franchises are where the franchisee distributes the parent company products and some related services. The parent company provides the use of its branded trademark, but not typically an entire system for running a business.
Answer:
a. $288,000
b. $190,000
Explanation:
The Accounting equation: Assets = Liabilities + Equity
a. Assets = Liabilities + Equity
382,000 = 94,000 + Equity
Equity = 382,000 - 94,000
= $288,000
b. Equity as of December 20Y9.
Account for the changes in assets and equity:
Assets = Liabilities + Equity
(382,000 - 63,000) = (94,000 + 35,000) + Equity
319,000 = 129,000 + Equity
Equity = 319,000 - 129,000
= $190,000
Answer:
Expenditures $300,000; Supplies inventory $150,000.
Explanation:
The consumption method recognizes an asset when an item is purchased and an expense when an item is used or consumed. Therefore, when supplies are first bought, Supplies Inventory has a balance of $450,000.
After using those supplies during the year, $300,000 should be debited from Supplies Inventory and credited to Expenditures.
Therefore, at fiscal year-end, the appropriate account balances on the General Fund financial statements would be: Expenditures $300,000; Supplies inventory $150,000.
Answer:
see below
Explanation:
A progressive tax system imposes taxes depending on income earned. The higher the income, the higher the tax rate. It means individuals and entities with a higher income with pay more taxes. A progressive tax system promotes equity by imposing higher taxes on the wealthy and lower taxes on the poor. The US income tax system is an example of a progressive tax.
A regressive tax system does not discriminate on income. It taxes all eligible taxpayers equally regardless of their income level. A regressive tax applies the same tax rate for everyone. Sale tax imposed on goods sold is an example of regressive tax. The regressive tax system takes a higher proposition of income from the low-income earners.
