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Nataliya [291]
3 years ago
15

All of the following are key characteristics of a monopolistically competitive industry except A. a differentiated product. B. a

homogeneous product. C. the existence of close substitutes. D. a large number of firms.
Business
1 answer:
Maksim231197 [3]3 years ago
4 0

Answer:

B. Homogenous product

Explanation:

Monopolistic competitive market is a market structure in which there are many sellers selling differentiated product.

Differentiated product are product that vary in taste or style. They are goods that can be substituted.

Monopolistic competitive firms gain some degree of market power by differentiating their products from those of other firms in the industry. Monopolistic competition firms achieve price control by selling a product that is in some​ way(s) different from close substitutes product.

Features of Monopolistic competitive firms

1. Existence of many sellers

2. Heterogeneous goods are sold

3. Existence of close substitute

4. Absence of barrier to entry of new firms and free exit to existing firms.

5. Existence of competitors.

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While auditing a client, the CEO asks you to look carefully at cash flows. You notice that cash flows have decreased every year.
Vikki [24]

Answer:

The answer is: FALSE

Explanation:

Documents are the most significant evidence in most fraud cases. Those who commit fraud will generally try to manipulate documentary evidence. Investigating the company's databases and accounting records are the best way to get documentary evidence. Also, documentary evidence is considered to be more reliable than eyewitness testimony.

5 0
3 years ago
Philadelphia Company has the following information for March: Sales $486,599 Variable cost of goods sold 205,621 Fixed manufactu
egoroff_w [7]

Answer:

Manufacturing margin is $203,253

Contribution margin is $230,357

Net income $118,547

Explanation:

Manufacturing margin is the sales revenue minus manufacturing costs

Sales revenue                           $486,599

Cost of goods sold                  ($205,621)

fixed manufacturing cost         ($77,725)

manufacturing margin            $203,253

Contribution margin is sales revenue minus variable costs:

Sales revenue                           $486,599

Cost of goods sold                  ($205,621)

variable selling & admin          ($50,621)

contribution      margin            $230,357

Income is the sales revenue minus all costs incurred:

Sales revenue                           $486,599

Cost of goods sold                  ($205,621)

fixed manufacturing cost         ($77,725)

Variable selling & admin          ($50,621)

Fixed selling & admin              ($34,085)

Net income                             $118,547

6 0
3 years ago
1) Illustrate how the type of work that he or she does influences a person's lifestyle. For example, contrast a farmer, a factor
steposvetlana [31]

Answer:1)The type of one job influences his lifestyle

2)No

3) value of self services in an economy includes improved customer services,more convenient , reduced overhead cost, customer satisfaction, increase productivity.

Explanation:Type of job tells a lot about people lifestyle,eg a person who spend very long hours at work hardly have adequate rest and social life.

Contrasting between farmers, school teacher and factory worker,the factory workers are semi skilled,teachers skilled and farmer could be non skilled ,the school teacher schedule is always fixed 8am to 4pm for instance so they are more organized,they are mostly in formal attire while a factory worker run shifts and may be see in safety boots and overall and may have little or erratic schedules .the farmer on the other hand has no schedule ,has relaxed routine,wear casuals and not necessarily tidy,does things when willed as most are self employed.

Even in their eating habits,farmers eat more of fresh food,while teachers eat processed foods and factory workers are more likely to eat junks or snacks.

While a school teacher may be seen with books ,a factory worker may be seen with machines and equipment and farmers with tools ,tractors etc

2)An economy can only thrive on goods and services,as both are needed for survival,a service person need commodities like foods,clothes etc to survive while a good traders cannot do without services like transportation,banking etc

3)the value of self service include overhead cost reduction,self service involves customer serving themselves with limited involvement of a third party or vendor e.g payment at pos at gas station, uses of ATM for cash withdrawal etc.

The organization uses less resources like staff,PCs to run self service this fund can be invested in other areas.

Increase customer service occurs as a result of self service , customer can do their trasaction at their pace and convenience.

4 0
3 years ago
Juan Foods pays off a long-term debt in full. Which one of the following statements best describes the appropriate book-keeping
tankabanditka [31]

Answer:

Debit long-term debt; Credit cash.

Explanation:

The Journal Entry is shown below:-

Long term Dr, XXXXXXXX

To Cash

(being long term is recorded)

Long-term debt is a liability which usually has a credit balance. Therefore, until the long-term debt is entirely repaid, the long-term debt account has to be debited to pay it off entirely from the account books. In another hand, the cash account has to be paid, because there is a cash outflow.

7 0
3 years ago
Our economic system in the United States is a "Mixed System" meaning that we are a free market but we also have
VikaD [51]
The answer is TRUE my guy
5 0
3 years ago
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