3 years ago

The ___ is a government agency that protects consumers from dangerous or falsely advertised products.

1 answer:

8 0

The Food and Drug Administration (FDA). The FDA ensures the safety and effectiveness of a wide range of consumer products from medicines and cosmetics to food and medical devices.

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Consider a competitive market with a large number of identical firms. The firms in this market do not use any resources that are

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Answer:

a. increase price in the short run but not in the long run.

Explanation:

The firms don't use resources that are available in limited quantities. So, as firm output increases, they can use resources in higher quantity but at the same price.

Therefore, as quantity demanded increases, the firms can supply higher quantity without any increase in resource cost. So, price increase in short run but not in the long term.

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Claire is the head of product design for her company. She has to create the layout for the next generation of smartphones. She h

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True or False: A rebate and a discount are the same.

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False

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North Company has completed all of its operating budgets. The sales budget for the year shows 50,220 units and total sales of $2

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Answer:

A budgered income statement was prepared for North company for the year ending December 31st 2020.

Explanation:

Solution

The NORTH COMPANY

Budgeted Income Statement

For the year December 31st, 2020 Ended

Particulars Amount

Sales $2,414,100

Less: Cost of goods sold

[50,220 Units x $23.00 per unit] -11,55,060

The Gross Profit 12,59,040

Less: Selling and administrative expenses -3,09,700

Earnings before interest and taxes 9,49,340

Less: Interest Expenses -10,260

The earnings before taxes 9,39,080

Less: Income Taxes -2,26,200

The Net Income 7,12,880

The net income for the NORTH COMPANY for the year ended December 31st 2020 is $7,12,880

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3 years ago

Inadequate competition can lead to: a. a competitive marketplace. c. mobility of resources. b. market failure. d. lower prices a

diamong [38]

Inadequate competition can lead to market failure. The correct answer is B, market failure.

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