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wlad13 [49]
3 years ago
14

How is price and output determined undr monopolistic competition?​

Business
1 answer:
konstantin123 [22]3 years ago
7 0

Monopolistic competition refers to a type of economy where there is only one organization in the market. Therefore, the influence of competitors is non-existent and the consumer has little influence over price or output.

In this case, price and output are determined by the firm's equilibrium price and output, not the market.

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<span>the action of selling the same product at different prices to different buyers, in order to maximize sales and profits.
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Tiffany purchased a $10,000, 13-week Treasury bill that is paying 2.25%. What is the effective rate on this T-bill?
Licemer1 [7]
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3 years ago
The following inventory valuation errors have been discovered for Knox Corporation:
Whitepunk [10]

Answer:

Income +/- inventory adjustment

2015:   138,000 - 23,000 = 115,000

2016:  254,000 + 61,000 = 315,000

2017:   168,000 + 17,000 = 185,000

Explanation:

<u>Inventory Identity:</u>

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As the mistake is on the right side it compensates by the other component which is COGS

<u><em>When the inventory is overstated</em></u> this means COGS is understated.

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We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.

7 0
3 years ago
Epsilon Co. can produce a unit of product for the following costs: Direct material $ 8 Direct labor 24 Overhead 40 Total costs p
mylen [45]

Answer:

It is cheaper to make the units in-house.

Explanation:

Giving the following information:

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Direct material $ 8

Direct labor 24

Overhead 40

Total costs per unit $72

Buying price= $60

<u>We need to determine which option provides the lower cost. Because 40% of overhead will remain constant, we have to take it out of the equation.</u>

<u>Production cost:</u>

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Direct labor 24

Overhead= 40*0.6= 24

Total production cost= $56

It is cheaper to make the units in-house.

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Answer:

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Explanation:

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6 0
3 years ago
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