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3 years ago

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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Prince electronics, a manufacturer of consumer electronic goods, has five distribution centers in different regions of the cou

marin [14]

Answer:

$378,000

Explanation:

average weekly demand 70 per distribution center

average shipment size to each distribution center is 450

average lead time 3 weeks

each distribution center has a 3 week safety stock

pipeline inventory: average lead time x average demand per distribution center x average price of each modem x number of distribution centers = 3 weeks x 70 units x $360 x 5 = $378,000

pipeline inventory in transit = $378,000

The pipeline inventory represents the minimum average that the company needs to have to at least meet the weekly demand for its product.

7 0

2 years ago

Which management viewpoint places emphasis on the importance of understanding human beings and the motivation and encouragement

Basile [38]

<h2>Behavioral view point is pertaining to the motivation and encouragement of employees towards achievements.</h2>

Explanation:

Initially the organization was

concentrating only on the productivity of the employee
lost focus on motivating employees
not providing much "employee-friendly" atmosphere

Later on, the "Behavioral management" theory helped the organization

a shift from Production to leadership based work culture
a good work environment to satisfy the employees
Motivate to achieve good results
Reach both individual and organization's goal
Motivating by providing Increase in the wages

7 0

2 years ago

The adult population of Foxcastle is 100,000 people. Of these 100,000 people, 20,000 are not in the labor force. Of the remainin

valina [46]

Answer:

16,000

Explanation:

A marginally attached worker is a jobless individual who is not included in the labor force. They are excluded in the labor force because they have not searched for employment in the last four weeks. Marginally attached workers will comprise of discouraged job seekers willing to take up a job if offered one. A marginally attached worker has have searched for work in the past 12 months.

For Foxcatle, the marginally attached will be the discouraged workers. They are not in the labor force; hence they are not considered as employed or unemployed.

8 0

2 years ago

A review of the accounting records of Perez Manufacturing indicated that the company incurred the following payroll costs during

Yuliya22 [10]

Answer:

SG&A expense = $363,000

Payroll cost which is included in Cost of goods sold = $827,200

Explanation:

The computation of SG&A and cost of goods sold

Salary of the company president = $75,000

Add: Chief financial officer salary = $42,000

Add: Vice president of marketing salary = $40,000

Add: Administrative secretaries salaries = $60,000

Add: Commissions paid to sales staff = $146,000

SG&A expense = $363,000

Vice president of marketing salary= $50,000

Add: Middle managers salaries = $147,000

Add: Wages of production workers = $703,500

Add: Engineers and other personnel responsible salaries= $133,500

Total = $1,034,000

Payroll cost which is included in Cost of goods sold

= $1,034,000 × 4000 ÷ 5000

= $827,200

5 0

3 years ago

Following are Nintendo’s revenue and expense accounts for a recent March 31 fiscal year-end (yen in millions). (Enter answers in

Gnom [1K]

Answer:

Dr. Net Sales ¥ 1,888,622

Cr. Income Summary ¥ 1,888,622

Dr. Income Summary ¥1,770,833

Cr. Cost of sales ¥ 1,254,981

Cr. Advertising expense ¥ 118,308

Cr. Other expense ¥ 397,544

Explanation:

Closing Entries are passed to close the temporary accounts of a business for the year. These accounts are closed and their balances are transferred to income summary account.

First we will close the the revenue / income accounts and then expenses or cost accounts.

4 0

3 years ago