Which businesses are in monopolistic competition?

The model of monopolistic competition can characterize the market for plumbing services in a city. Suppose that the market is in

Verdich [7]

Answer:

Correct answer is (C) The price and output of plumbing services will rise

Explanation:

In a monopolistic market if the service or commodity is initially in long-run equilibrium, and then there is an increase in demand, then, there will increase in price in a short run as people demands more and the provider of the service or the producer of the goods will tend to provide or produce more.

6 0

4 years ago

Charles Berkle is the manager of Nogain Manufacturing and is interested in doing a cost of quality analysis. The following cost

Pavlova-9 [17]

Answer:

a)

Prevention costs: costs incurred in order to prevent failures or minimize defects, they include maintenance expenses = $11,000
Appraisal costs: costs incurred in order to make sure that the products meet quality standards and customers' expectations, they include inspection costs = $15,000
Internal failure costs: costs incurred due to faulty products or procedures that occur before any good is actually taken out of the facilities, they include scrap and rework ($10,600) and machine breakdown costs ($5,400) = $16,000
External failure costs: costs incurred after the goods leave the facilities, they include warranty expenses ($34,000), product returns due to defects ($6,000) and lost sales due to low quality ($10,000) = $50,000

Quality cost report:

Prevention costs

Machine maintenance expense $11,000 $11,000

Appraisal costs

Inspection cost $15,000 $15,000

Internal failure cost :

Scrap & rework $10,600
Machine breakdown costs $5,400 $16,000

External failure costs :

Warranty expense $34,000
Product returns due to defects $6,000
Estimated lost sales due to poor quality $10,000 $50,000

Total quality cost $92,000

b) What percentage of sales revenue is being spent on prevention and appraisal activities?

total sales revenue = $500,000

prevention and appraisal costs = $26,000

% = $26,000 / $500,000 = 5.2%

c) What percentage of sales revenue is being spent on internal and external failure costs?

internal and external failure costs = $66,000

% = $66,000 / $500,000 = 13.2%

8 0

3 years ago

Bighorn sheep are beautiful wild animals found throughout the western United States. Let x be the age of a bighorn sheep (in yea

sladkih [1.3K]

Answer:

Answer for the question:

Bighorn sheep are beautiful wild animals found throughout the western United States. Let x be the age of a bighorn sheep (in years), and let y be the mortality rate (percent that die) for this age group. For example, x = 1, y = 14 means that 14% of the bighorn sheep between 1 and 2 years old died. A random sample of Arizona bighorn sheep gave the following information:x 1 2 3 4 5y 14 18.9 14.4 19.6 20.0 (a) Draw a scatter diagram. (3 points)(b) Find the equation of the least-squares line, and plot the line on the scatter diagram of part (a). (3 points)(c) Find the correlation coefficient r. Find the coefficient of determination . What percentage of variation in y is explained by the variation in x and the least squares model? (4 points)

is given in the attachment.

Explanation:

5 0

3 years ago

You need to buy some chicken for dinner tonight. you found an ad showing that the store across town has it on sale for $3.29 a p

xxTIMURxx [149]

Yes, it's 20c cheaper than your neighborhood store.

3 0

4 years ago

Read 2 more answers

Jesse company adjusts its accounts monthly and closes its accounts on december 31. on october 31, 2015, jesse company signed a n

Ugo [173]

Answer: Total Interest Expense is $4500 and Monthly Interest Expense is $750

Explanation: A Note Payable is borrowed for a period of 6 months @ 6% annual interest rate. Since the note payable is borrowed for 6 months only, the interest amount will be the annual interest amount divided by 2.

Annual Interest Amount = Principal × 6%

Annual Interest Amount = $150,000 × 6%

Annual Interest Amount = $9,000

But since the notes payable is taken as a loan for a period of six months,

Total Interest Payable = Annual Interest Amount ÷ 2

Total Interest Payable = $9,000 ÷ 2

Total Interest Payable = $4,500

Monthly interest expense, as it says monthly interest expense assumes equal amount each month and there are 6 months for which loan is taken. So the formula will be:

Monthly Interest Expense = Interest Payable ÷ 6

Monthly Interest Expense = $4500 ÷ 6

Monthly Interest Expense = $750

Therefore, Monthly Interest Expense is $750.

4 0

4 years ago