Answer:
B) no competitive producer of the same product
Explanation:
Monopoly refers to a single seller selling a unique product to a large number of buyers. A monopoly dominate the industry has total control of the market.
Characteristics of a Monopoly
1) High barrier to entry: This implies that competitors are restricted. New sellers are not allowed entry.
2) Single seller and large buyers: There is a single seller selling to a large number of consumers in the market.
3) Unique product: The product sold in a monopoly are unique have little or no close substitute.
4) Price Maker: A monopoly decides on the price he wants to sell his product. He can increase the price at will.
5) Economies of scale: A monopoly enjoys economies of scale because he can buy raw materials in large quantity at a reduced price, thereby reducing the cost of production and increasing Profits.
6) No competitor: Since the market is characterised by a single seller, high barrier to entry, then, competitor does not exist in a monopoly market.
Answer:
a. 320 units
b. $1,920
Explanation:
EOQ = √ 2 × Annual Demand × Ordering Cost per Order / Holding Cost per unit
= √ (2 × 3,000 units × $102.40 / ($30 × 20%))
= 320 units
total inventory cost = ordering cost + holding cost
= 3,000 units/ 320 units × $102.40 + 320 units/ 2 × ($30 × 20%
= $960 + $960
= $1,920
Answer:
$75,260
Explanation:
Calculation for What should Pharoah Company report as other comprehensive income and as a separate component of stockholders' equity
Using this formula
Comprehensive income/separate component of stockholders' equity=Fair value-(Sales of bonds-July 1, 2021 Amortized premiums-December 31, 2021 Amortized premiums)
Let plug in the formula
Comprehensive income/separate component of stockholders' equity=$2,780,000 - ($2,724,740 - $9,820 - $10,180)
Comprehensive income/separate component of stockholders' equity=$2,780,000-$2,704,740
Comprehensive income/separate component of stockholders' equity= $75,260
Therefore What should Pharoah Company report as other comprehensive income and as a separate component of stockholders' equity is $75,260
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