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Yuliya22 [10]
3 years ago
11

What is one difference between a firm in a perfectly competitive industry and a firm in a monopolistically competitive industry?

Business
1 answer:
____ [38]3 years ago
5 0

Answer:

Letter b is correct.<em> A monopolistically competitive firm faces competition from firms producing close substitutes.</em>

Explanation:

<u>Monopolistic competition</u> is an economic situation that occurs when companies exhibit imperfect competition, that is, companies market similar but not identical products, which characterize them as substitute but not perfect substitute products.

Products may have different variables, such as quality, price and reputation in the market. The greater the degree of product differentiation, the more price control the company will have.

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Which term is defined as the lack of satisfaction a person receives from using a product repeatedly
Studentka2010 [4]
Income effect - This is the increase or decrease in purchasing power brought on by changes in prices.

substitution effect-This refers to how people may buy a lower-priced product rather than a more expensiv product. This effect may change the demand for a good or service.

5 0
3 years ago
What is the name of the monopolist having a declining long-run average cost throughout the market?
balandron [24]
The appropriate response is a Natural monopoly, it is a sort of imposing a business model that exists thus of the high repaired expenses or begin expenses of working a business in a particular industry. Furthermore, normal imposing business models can emerge in ventures that require one of a kind crude materials, innovation or other comparative variables to work.
3 0
3 years ago
Kokomochi is considering the launch of an advertising campaign for its latest dessert product, the Mini Mochi Munch. Kokomochi p
alexgriva [62]

Answer:

Kokomochi

The incremental earnings associated with the advertising campaign in its first year is:

= $0.3 million.

Explanation:

a) Data and Calculations:

Advertising campaign cost = $5.5 million

                                                  Mini Mochi     Other Products   Total

                                                      Much

Incremental sales revenue        $8.2 million      1.8 million        $10 million

Incremental cost of goods sold   5.2 million      1.4 million           6.6 million

Incremental gross profit            $3.0 million      0.4 million          3.4 million

Advertising cost                                                                              3.1 million

Incremental earnings associated with the advertising campaign = $0.3 million

Advertising cost apportioned to:

This year = $8.2/$14.4 * $5.5 million = $3.1 million

Next year = $6.2/$14.4 * $5.5 million = $2.4 million

6 0
3 years ago
Schmid Corporation issues​ $450,000, 12%, 5minusyear bonds on January​ 1, 2019 for​ $439,000. Interest is paid semiannually on J
Mamont248 [21]

Answer:

$28,100

Explanation:

The computation of the bond interest expense is shown below:

= (Issued amount × interest rate) + (Issued amount - given amount) ÷ time period

= ($450,000 × 6%) + ($450,000 - $439,000) ÷ 10 years

= $27,000 + $1,100

= $28,100

In semi annual period, the interest rate is half and the time period is doubles and the same is shown

4 0
3 years ago
A note receivable Mild Max Cycles discounted with recourse was dishonored on its maturity date. Mild Max would debit: A receivab
Leviafan [203]

Answer:

A receivable.

Explanation:

Mild Max Cycles had a notes receivables, which it already discounted with some financial institution, which later on the maturity date stand to be dishonored.

It is clear that the company earlier already collected the money against it, but now as the note receivable was discounted with recourse that is it provided assurance to the financial institution, in case of any failure, thus, the company will pay back to the financial institution and that the company still have the right to receive it back from the note receivable.

7 0
3 years ago
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