Answer:
1.
c. Many
d. Differential
c. Monopolistic Competition
2
b. Few
c. Identical
a. Oligopoly
3
a. One
a. Unique
d. Monopoly
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms.
An example of a monopoly is a utility company
It is only the drug company that is permitted to sell the drug. So, it is the only firm in the industry. Also, it is the only firm that offers experimental AIDS drug, so its product is unique.
An Oligopoly is when there are few large firms operating in an industry. In the cab industry, it is a duopoly that exists. This is a type of oligopoly where there are only two firms in the industry. Consumers do not care about the cabs they enter or the different services offered by the companies, so, the product is identical
Answer:
Production rate = 1.66 pieces/min (Approx)
Explanation:
Given:
Average lead time = 18 minutes
Average work in process inventory = 30 pieces
Find:
Production rate
Computation:
Production rate = Average work in process inventory/Average lead time
Production rate = 30/18
Production rate = 1.66 pieces/min (Approx)
Answer and Explanation:
The Journal entry is shown below:-
1. Factory Labor Dr, $55,200
To Labor Price Variance $1,200
To Factory Wages Payable $54,000
(Being factory labor is recorded)
Here we debited the factory labor as it increased the expenses and we credited the labor price variance and factory wages payable as it the factory wages payable increased the liabilities
2. Work in Process Inventory $57,040 ($55,200 ÷ $6,000 × $6,200)
To Labor Quantity Variance $1,840
To Factory Labor $55,200
(Being is work in progress is recorded)
Here we debited the work in progress inventory as it increased the assets and we credited the labor quantity variance and factory labor as the factory labor decreased the expenses
Answer:
starting out in a hole that represents economic losses if the firm produces nothing.
Explanation:
Cost-volume-profit analysis is also known as the break even analysis, it is an important tool in predicting the volume of activity, the costs to be incurred, the sales to be made, and the profit to be earned is. It is used to determine how changes in differing levels of activities such as costs and volume affect a company's operating income and net income.
Fixed costs can be defined as predetermined expenses in a business that remain constant for a specific period of time regardless of the quantity of production or level of outputs. Thus, they are the costs which are not directly related to the level of production or not affected by the quantity of output in an organization. Some examples of fixed costs in business are loan payments, employee salary, depreciation, marketing costs, rent, insurance, lease, utilities, administrative cost, research and development costs, etc.
Furthermore, fixed costs may be relevant in a decision because it affects the amount of future cash-flow of a business entity.
Hence, the fixed costs for a firm are analogous to starting out in a hole that represents economic losses if the firm produces nothing. This simply means that, the firm is only using it money to fund the all of the necessary items or utilities required for the operation of its business but do not produce any goods or services. Simply stated, the firm is not generating any revenue as its produces nothing.
<span>The answer is 'scanning the environment'.
Environmental scanning is a process that systematically surveys and interprets relevant data to identify external opportunities and threats.</span>
