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natulia [17]
3 years ago
12

The given statements are about monopolistic competition. Indicate whether each statement is true or false. A monopolistically co

mpetitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location. Product differentiation enables a monopolistically competitive firm to have some control over the price of its product. In the long run, each monopolistically competitive firm produces a level of output that results in allocative efficiency. In the long run, each monopolistically competitive firm produces a level of output that results in productive efficiency. To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. Compared with purely competitive markets, under monopolistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.
Business
1 answer:
Nuetrik [128]3 years ago
3 0

Answer:

1. A monopolistically competitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location.- True

2.Product differentiation enables a monopolistically competitive firm to have some control over the price of its product- True

3.In the long run each monopolistically competitive firm produces a level of output that results in allocative efficiency.- False

4. In the long run each monopolistically competitive firm produces a level of output that results in productive efficiency- False

5.To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. -True

6. Compared with purely competitive markets, under monoplistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. -True

7.In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.True

Explanation:

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Which of the following will be accomplished by efficient allocations of the factors of production?
Pavlova-9 [17]

Answer:

fulfilling many needs and wants of society

Explanation:

In producing a product during production, it is always important to ask if society needs the product that we are developing. The key to every successful product is to answer whether the consumer meets the needs.

I dont know if this correect....you don't have any options(^^):^>.<

3 0
3 years ago
On November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in ex- change for 12,500 shares of $25 pa
Georgia [21]

Answer:

Journal Entry to be recorded

DR.    Land                                           $475,000

                 Cr.     Common stock                          $312,500

                 Cr.     Add-in-capital common stock  $162,500

Explanation:

Number of Shares = 12,500 shares

Share Market price = $38

Share Par Value = $25

Total value of property to be recorded= 12,500 x $38 = $475,000

Common stock value at par = 12,500 x $25 = $312,500

Add-in-Capital common stock value = $475,000 - $312,500 = $162,500

Property will be recorded as the total value of exchange which is $475,000. On other other hand the common stock value will be recorded in two parts common stock at par value and add-in-capital common stock over par value.

7 0
3 years ago
Classify each of the following based on the macroeconomic definitions of saving and investment:1. Saving Investment Kyoko borrow
r-ruslan [8.4K]

Answer

The classification is shown below:

Explanation:

The saving refers to the amount i.e above its consumption expenditure let us take an example if an individual salary is $100,000 and its expenditure assumes $50,000 then it saves $50,000 so the $50,000 is the savings.  While the investment is the amount that is spent to buy some assets in terms of building, machinery, home, etc.

So the classification is presented below:

a. Kyoko borrows money to build a new lab for her engineering firm.  = Investment

b. Rina purchases stock in Nano Speck, a biotech firm.  = saving

c. Musashi takes out a mortgage for a new home in Detroit. = investment

d.Jacques purchases a corporate bond issued by a car company. = saving

6 0
3 years ago
Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below:
Anettt [7]

Answer:

0.34

Explanation:

Calculation to determine what The manufacturing cycle efficiency (MCE) was closest to:

First step is to calculate the Throughput time using this formula

Throughput time = Process time + inspection time + move time + queue time

Let plug in the formula

Throughput time=6.1+1.5+4.1+6.2

Throughput time=17.9

Now let calculate the MEC using this formula

MEC = process time / throughput time

Let plug in the formula

MEC=6.1/17.9

MEC =0.34

Therefore The manufacturing cycle efficiency (MCE) was closest to:0.34

8 0
3 years ago
Which of the following is a way for college students to watch their favorite tv shows without spending a lot of money
Delvig [45]
Watch online you watch tv for free youtube,hulu,netflix
4 0
3 years ago
Read 2 more answers
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