Answer:
c. (i) and (ii) only
Explanation:
Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect those of its competitors.
A monopoly is a market situation in which there is only one seller of a product which has no close substitute. It is a market in which one firm has the prevailing power in the industry.
A firm in a monopolistically competitive market is similar to a monopoly in the sense that (i) they both face downward-sloping demand curves. (ii) they both charge a price that exceeds marginal cost.
Answer:
The first reason that makes indirect production superior to direct production is the refining of the end product.
The second reason that makes indirect production superior to direct production is the value the produced good acquires.
The third reason that makes indirect production superior to direct production is the durability of the product is longer.
The fourth reason that makes indirect production superior to direct production is the produced good can be employed in many different other products.
Explanation:
The reasons behind this answer are that in the first place the indirect production allows a producer to refine the raw product to a level in which it can be used to obtain more from it. For example, gasoline as a product can provide us more energy than the oil itself. Also, it obtains a bigger value and it can be used for a longer time. So, in other words, indirect production is the refining of raw materials to obtain more from them.
Answer:
Bellisima's opportunity cost:
-
Production of corn per million hours of labor = 12 / 24 = 0.5 pairs of jeans of corn
- Production of jeans per million hours of labor = 24 / 12 = 2 bushels of corn
Felicidad's opportunity cost:
- Production of corn per million hours of labor = 8 / 32 = 0.25 pairs of jeans of corn
- Production of jeans per million hours of labor = 32 / 8 = 4 bushels of corn
Felicidad has a comparative advantage int he production of corn while Bellisima has a comparative advantage in the production of jeans.
If both countries specialize:
- Felicidad will produce 128 million bushels of corn.
- Bellisima will produce 48 million pairs of jeans.
Total production of corn has increased by 24 million bushels.
Total production of jeans has increased by 12 million pairs.
Assuming that Bellisima trades 26 million pairs of jeans and Felicidad exchanges 78 million bushels of corn, then:
- Felicidad's consumption of jeans will increase by 2 million pairs, while their consumption of corn will increase by 50 million bushels.
- Bellisima's consumption of jeans will increase by 10 million pairs, while their consumption of corn will increase by 6 million bushels.
Answer:
C. debit to Finished Goods Inventory $ 3 comma 202 and a credit to Work minus Process Inventory $ 3 comma 202
Explanation:
The journal entry is shown below:
Finished goods inventory A/c Dr $3,202
To Work in process inventory A/c $3,202
(Being the job is completed)
The computation is shown below:
= Direct material cost + Direct labor cost + manufacturing overhead cost
= $360 + $2,030 + $2,030 × 40%
= $360 + $2,030 + $812
= $3,202
The banking that allows that can be chase.
