Answer:
Inventory turnover= 6.7
Explanation:
Giving the following information:
cost of goods sold= $10,351,500
The average inventory for the year amounted to $1,545,000.
<u>To calculate the inventory turnover, we need to use the following formula:</u>
Inventory turnover= Cost of goods sold/ average inventory
Inventory turnover= 10,351,500 / 1,545,000
Inventory turnover= 6.7
Answer:
<h2>The correct answers in this case are options (ii) and (iii).</h2>
Explanation:
As opposed to competitive market structure,the Marginal Revenue(MR) for a monopoly is less than the output price(P).In competitive market,the market competition or firm rivalry pushes the price down to a fixed level which is equal to MR or the revenue earned by all firms(price takers) from selling 1 more unit of output.Due to absence of any competition,a monopoly(price maker) can set the P and production level at the point where MR is equal to the Marginal Cost of production(MC) or the cost of producing one more unit of output.This is the profit maximizing price and output of a monopoly.Now,to sell more output,the monopoly has to increasingly reduce the P in order to attract more customers and it will continually set the P at the profit maximizing level of output where MR=MC.Therefore,for a monopoly,the P or output price is less than the MR obtained,while due to high competition or firm rivalry,all the competitive firms are able to charge a fixed and uniform P for each unit of output and earn identical MR as well.
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Answer:
B. A) population sizes, income levels and cultural influences, the current state of the infrastructure, and distribution and retail networks available.
Explanation:
In a country where population is high, the demand for goods and services would be high and this would stimulate market growth. On the other hand, in a country where population is low, demand for products would be low and this can hinder market growth.
In a country where income level is high, demand for goods and services would also be high and this would stimulate market growth. The opposite is the case when income is low.
The presence of good infrastructure in a country enhances innovation and production and this can lead to market growth.
The presence of a strong and good retail network to enhance distribution of goods and services can lead to market growth as it assures producers of efficient distribution of goods and services produced.
I hope my answer helps you