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4 years ago

The demand curve faced by a pure monopoly isa. vertical.b. horizontal.c. upward sloping.d. downward sloping.

Business

1 answer:

svlad2 [7]4 years ago

3 0

Answer:

Downward sloping

Explanation:

In a market condition of pure monopoly, there is a single firm operating the whole market and managing all the buyers. All the buyers in this market condition are price takers because the price is set by the monopolist.

The pure monopolist faces the downward sloping demand curve which shows the inverse relationship between the price of the good and the quantity demanded and they can obtain the economic profits in the long run because of the restrictions over the entry of the other firms.

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Answer:

The answer is below

Explanation:

Given that mean (μ) = $1500, standard deviation (σ) = $200, sample size (n) = 100

confidence (C) = 95% = 0.95

α = 1 - C = 1 - 0.95 = 0.05

α/2 = 0.05 / 2 = 0.025

The z score that corresponds with 0.475 (0.5 - 0.025) is 1.96. Therefore the margin of error (E) is:

$E = z_\frac{\alpha}{2} *\frac{\sigma}{\sqrt{n} } \\\\E=1.96*\frac{200}{\sqrt{100} } =39.2\\$

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confidence (C) = 95% = 0.95

$E = z_\frac{\alpha}{2} *\frac{\sigma}{\sqrt{n} } \\\\E=1.96*200=392\\$

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3 years ago

When one group controls an industry or market by being the only provider, this is called _____.

e-lub [12.9K]

When one group controls an industry or market by being the only provider, this is called MONOPOLY.

Mono - Greek monos means one or single
Poly - Greek polein means to sell.

Monopoly is a market where only one sells a certain good or service. In this type of market there is no competition thus the monopolist is not driven to improve his commodity because consumers have no other choice but to buy his product.

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3 years ago

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Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for

aev [14]

Question Continuation

1. The number of physical units that were transferred out and the number that are in ending work in process inventory.

2. The number of equivalent units for materials and conversion for the month.

3. The cost per equivalent unit of materials and conversion for the month.

Answer:

See explanation below

Explanation:

1. .

Units to account for is given as:

Beginning (Work in Process) ------_--------- $2,000

Unit Started at the beginning (April) ----- $28,000

Total = $2,000 + $28,000 = $30,000

Calculating total units accounted for.

Units completed and transferred out ------- $23,000

Ending (Work in Process) ------------------------ $7,000

Total Units = $23,000 + $7,000 = $30,000

Units completed and transferred out

=> $23,000 (units) => 100% (% Materials) => $23,000 (EUP Materials) => 100% (% Conversion) => $23,000 (EUP Conversion)

Units of ending work in process

=> $7,000 (units) => 100% (% Materials) => $7,000 (EUP Materials) => 40% (% Conversion) => $2,800 (EUP Conversion)

Equivalent Units of Production

=> $30,000 (units) => 100% (% Materials) => $30,000 (EUP Materials) => (% Conversion) => $25,800 (EUP Conversion)

Cost per equivalent units of production

Cost of beginning work in process => $45,000 (Direct materials) => $56,320 (conversion)

Cost incurred during this period => $375,000 (Direct materials) => $341,000 (conversion)

Total Cost => $420,000 (Direct materials) => $397,320 (conversion)

Equivalent Units of Production => $30,000 (Direct materials) => $25,800 (conversion)

Cost per equivalent unit of production => $14.00 (Direct materials) => 15.40 (conversion)

Cost per equivalent unit of production is calculated by Total Cost / Equivalent unit of production

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4 years ago