Given that <span>Dave Klein is a produce farmer in Northern California. His major customers
are grocery stores in the midwest. Dave's product is a perishable item
and will only last for about 2 weeks after it has been picked, so Dave
is concerned with getting his product to his customers quickly. he ships
almost daily when his produce is in season. However, he also needs to
be aware of the cost of shipping.
The form of shipping Dave will most
likely use is truck.</span>
Answer:
a higher price and produce a smaller output than a competitive firm
Explanation:
A monpolistically competitive firm is a firm that :
1. Sells differentiated products from other firms in the industry.
2. Has many buyers and sellers
3. Is a price maker
4. Has no barrier to entry or exist of firms
An example of a monpolistically competitive firm is a resturant.
A competitive firm is a firm that:
1. Sells identical goods with other firms in the industry.
2. Is a price taker . Prices are set by forces of demand and supply
3. Has many buyers and sellers
4. There are no barriers to entry or exist of firms.
When a monopolistic and competition firm are faced with the same unit cost, a monopolistic firm would aim to earn profit by increasing its price and reducing the quantity produced.
While a perfect competition would sell at the price set by the forces of demand and supply. The firm can increase the quantity produced in order to increase revenue.
A monopolistic firm is able to charge a higher price for its products while a perfect competition isn't.
Answer:
It must involve the transfer of resources to another entity.
Explanation:
A liability is defined as an obligation of future outflow of economic benefits that arise as a result of past actions either through sales , exchange of assets or services , or any other business related events.
Before a liability can be recognized , it must satisfy these three conditions
- It must involve probable outflow of economic resources
- A present obligation that arose as a result of past transactions
- It must involve a transfer of resources to another entity
Answer & Explanation:
a. Using the high-low method, Variable cost per unit is;
= $1.40
b. Fixed Cost
= Total Cost at lowest unit - Variable costs at lowest unit
= 14,860 - (1.4 * 8,600)
= $2,820
c. Variable cost at 8,170 units + Fixed cost
= (8,170 * 1.4) + 2,820
= $14,258
μ = 183, σ = 20, n = 50. (Round your answers to 2 decimal places.)If the true mean is .9350 with a standard deviation of 0.0090
<h3>What is
standard deviation?</h3>
The standard deviation is a statistic that expresses how much variance or dispersion there is in a group of numbers. While a high standard deviation suggests that the values are dispersed over a wider range, a low standard deviation suggests that the values tend to be close to the mean (also known as the anticipated value) of the collection.
The lower case Greek letter (sigma), for the population standard deviation, or the Latin symbol s, for the sample standard deviation, are most frequently used in mathematical texts and equations to indicate standard deviation. Standard deviation may be written as SD.
A random variable, sample, statistical population, data set, or probability distribution's standard deviation is equal to the square root of its variance.
To learn more about standard deviation from the given link:
