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Delicious77 [7]
3 years ago
12

How does the​ long-run equilibrium for a monopolistically competitive market differ from the​ long-run equilibrium for a perfect

ly competitive​ market? One way in which monopolistically competitive markets and perfectly competitive markets differ is that in​ long-run equilibrium, monopolistically competitive firms
Business
1 answer:
Valentin [98]3 years ago
3 0

Answer:

Following are the differences between monopolistically competetive market and perfectly competetive market.

Explanation:

Overall the profit ratio for the sellers is higher in monopolistically competitive market and low in a perfectively competitive market. In monopolistically competitive market, sellers charge a price higher than marginal cost, whereas, in a perfectly competitive market, the sellers charge a price equal to the marginal cost. In long-Run, the main difference between the competitive market and the monopolistic market is the excess capacity. It is the difference between the efficient level of output and profit-maximizing level of output.

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Exam hide or show questions question content area revenue and expense account are permanent accounts. true false
klio [65]

Because they are always converted to an income summary throughout the closing process, revenue and expense accounts are known as nominal accounts.

so the statement is false

Revenue Definition:

Revenue in financial accounting refers to an inflow of funds, typically from sales or services provided by commercial activity. It is also known as sales or business turnover. In other terms, revenue refers to the amount of money that a company or organization receives. For instance, certain businesses may receive income from royalties, interest, or copyright fees. While for some businesses, money may come from the services they provide to clients. Donations from groups, corporations, and people are referred to as revenue for non-profit organizations.

Operating Revenue Examples:

  • Sales.
  • Fees or Commission Earned.
  • Service Revenues.

Expenses Definition:

A money outflow is known as an expense or expenditure in financial accounting. As an illustration, a tenant's expenses can include rent. Parents' expenses could include the cost of their children's tuition. Expenses for a business include things like electricity bills, bank fees, sales expenses, phone bills, repairs, and services.

List of expenses in accounts frequently observed when preparing financial statements:

  • Cost of goods sold.
  • Legal fees.
  • Depreciation.

Learn more about Revenue and expense accounts here

brainly.com/question/16749768

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3 0
1 year ago
According to the law of supply, assuming other factors are held constant a. as the price of milk increases, the quantity of milk
My name is Ann [436]

Answer:

C. as the supply for milk increases, the price of milk will also increase

8 0
3 years ago
Samson, Inc. had the following balances and transactions during​ 2019: Beginning Merchandise Inventory 10 units at $ 94 March 10
lubasha [3.4K]

Answer:

The answer is attached;

Explanation:

Download xlsx
3 0
3 years ago
In a deposits-only monetary system (people hold no currency) with a 5% required reserve ratio, a bank deposit of $1,000 will inc
liraira [26]
The reserve ratio is the portion of the money of the depositor that should be available in cash in the bank. This amount should only be in the bank and not used for all other purposes. Hence, the balance money can be used for the bank operations, increasing the supply. 

In this item, we are given that the reserve ratio is only 5%. This means that, 95% of the money can be used by the bank for its operation. This amount can be calculated by multiplying the amount deposited by the decimal equivalent of 95%. That is,
          = ($1000)(0.95)
          = $950

Therefore, the money supply will increase by $950. 
5 0
3 years ago
To realize his passion,Alex recently opened Original Tunes,Inc. ,a small state of the art recording studio in Nashville,TN.He pr
melamori03 [73]

Answer:

<u>a. True</u>

Explanation:

Indeed, we could rightly say the statement is true by remembering the four key factors of production (business):

  • capital (wealth)
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  • entrepreneur.

Labor is part of the list of important factors and political freedom allows the entrepreneur to sucessfully manage business activities.

7 0
3 years ago
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