Answer:
when it involves two or more buyers buyers and sellers
In San Francisco, there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is option (b) i.e, monopolistically competitive.
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What is monopolistically competitive?</h3>
An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.
Monopolistic competition is characterized by a number of features.
- slight variations in the goods and services,
- Free access to the market and exit
- many businesses
- Profits from incomplete consumer knowledge
Consumer electronics, apparel, restaurants, and hair salons are a few examples of industries with monopolistic competition. Each business delivers goods that are comparable to those of other businesses in the same sector. They can, however, set themselves out through branding and marketing.
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Answer and Explanation:
The computation is shown below;
But before that the depreciation expense per year is
Depreciation per year = (Cost - Residual value) ÷ Useful life
= ($38,080 - $2,800) ÷ 6 years
= $5,880
1.Net book value as on disposal date is
= $38,080 - ($5,880 × 3)
= $20,440
2.
We know that
Gain on sales = (Sales - Book value)
Gain = $(20,400 - 20,400) = 0
a. Loss = $13,000 - $20,440 = -$7,440
b. Loss = $10,000 - $20,440 = -$10,440
The equation<span> for </span>inventory turn over <span>equals the cost of goods sold or net sales divided by the average </span>inventory<span>.</span>
