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3 years ago

Which businesses are in monopolistic competition?

Business

1 answer:

kvv77 [185]3 years ago

4 0

The restaurant business.
Hotels and pubs.
General specialist retailing.
Consumer services, such as hairdressing.

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Warwick's co., a women's clothing store, purchased $75,000 of merchandise from a sup- plier on account, terms fob destination, 2

Nostrana [21]

This question has a three part answer, with each part broken out below:

A. To record the purchase there is a debit to Purchases and a credit to Accounts Payable, each for $75,000.

B. To record the return there is a debit to Accounts Payable and a credit to Purchases Returns and Allowances, each for $9,000.

C. The amount of the payment is $75,000 - 9,000, which is $64,000. They are paying during the discount period, so will only be paying 98% of this amount, which is $62,720.

The entry is a debit to Accounts Payable for $64,000, a debit to Purchases Discounts for $1,280, and a credit to Cash for $62,720.

3 0

3 years ago

Problem 11-1 Jain Mart is to depreciate an asset bought for $500,000 using the SOYD method over a life of 8 years. If the deprec

pickupchik [31]

Answer:

B. $20,000

Explanation:

Depreciation in year 3 = $80,000

According to the sum of the Years' Digits Depreciation, the depreciation for an asset bought for $500,000 and an expected life of 8 years, at year 3, is given by:

$D_{y=3}=\$80,000 = \frac{8-2}{8+7+6+5+4+3+2+1}*(\$500,000-Salvage) \\Salvage = 6*(\frac{\$500,000}{6} -\$80,000)\\Salvage=\$20,000$

The salvage value used in computing the depreciation charges is $20,000.

5 0

3 years ago

question 5 mr. porter sells 10 bottles of champagne per week at a price of $100 per bottle. he can sell 11 bottles per week if h

Natali5045456 [20]

As per the given data, there is An increase of $90 and a decrease of $100.

( bottle cost 90x10 =900 and 90x11=990; increase of $90)

(Total Revenue: 100x10=1000 , 90x10=900; difference is 100)

<h3>What is revenue?</h3>

While doing any kind of business, a person always invests some money and tries to generate a profit. This can be done with the help of operations calculations.

After an average sale that has been done. This kind of work or activity is done in the case of revenue. One can easily calculate the revenue by putting the given value into the formula.

Thus, in the case of Mr. Potter, after selling 11 bottles per week, the total revenue will be a difference of a hundred dollars.

Learn more about revenue from here:

brainly.com/question/8645356

#SPJ4

7 0

2 years ago

Which of the following best defines the term commodity? a. A physical object we find, grow, or make to meet our needs and those

aksik [14]

Answer: A physical object we find, grow, or make to meet our needs and those of others.

Explanation: A commodity is an object that possesses a certain form of value, it can be used to meet an immediate need of a person.

It can be grown or produced to meet the specified needed requirements of the particular need it solves.

4 0

3 years ago

Review the Inquirer to determine Chester’s current strategy. Where will they seek a competitive advantage? From the following li

Vlada [557]

Answer:

a) Increase demand through TQM initiatives

b) Offer attractive credit terms

c) Seek excellent product designs, high awareness, and high accessibility

e) Seek the lowest price in their target market while maintaining a competitive contribution margin

g) Reduce labor costs through training and recruitment

Explanation:

Chester by pursuing the top five targets listed above would Have a competitive advantage among it's competitors. First their total quality management strategy(TQM) would increase customer satisfaction and spiral their demand growth. Secondly attractive credit terms would increase demand by encouraging customers that require credit facilities for their purchases. Excellent product designs and more awareness would increase product quality while also bring more awareness to the business. Reducing price would also increase demand and since they'd be able to keep a competitive contribution margin they would be able to stay ahead in the market. Lastly reduction in labour costs will have a ripple effect on the whole business as costs will be reduced and cost of goods will be reduced to ensure lower prices and high demand

6 0

3 years ago