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2 years ago

If a firm in a monopolistically competitive market lowers price, then Use letters in alphabetical order to select options

Business

2 answers:

hram777 [196]2 years ago

8 0

Answer:

D. Quantity demanded for the good will increase.

Explanation:

To begin, it is important to understand the concept of monopolistic market. Monopolistic market is a market whereby a firm has the overall effect of providing the major products in a market.

The law of demand is universal. The quantity demanded is always at an inverse relationship with the price of a commodity. The implication is that when a price of a commodity is lowered, there is a corresponding increase in the number of quantity demanded of the commodity, as consumer are willing to buy more for the products.

The experience is even more resounding in this scenario of a monopolistic firm. When price is lowered, consumer take advantage of such and increase the quantity so demanded of the commodity. It must be noted that in a monopolistic market, the firm therein dictates its price, its supply and demand, and also its eventual profits.

Valentin [98]2 years ago

3 0

Answer: quantity demanded for the good will increase (D)

Explanation:

Monopolistic competition is an imperfect competition where there are many producers that sell products that are differentiated from each another e.g through quality or branding.

In a monopolistic competitive market, firms maximizes profits when marginal revenue equals to the marginal cost. The demand curve of a monopolistic competitive market is downward sloping which means that as price reduces, the quantity demanded for the good will increase.

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Sati [7]

Answer:

The price per share should be $22.5

Explanation:

The price earnings multiple or P/E tells us how much price the investors are willing to pay for $1 earnings of the company.

We first need to calculate the earnings per share of the company.

Earnings per share = Net Income / Number of outstanding common shares

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3 years ago

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Marianna [84]

Often take a commission for their service. The commission could be a flat rate or a percentage of the check. Generally banks do not charge their customers to cash checks. A bank may charge a small fee to cash a check if the person is not their customer.

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3 years ago

Adam Holmes is the Processing Manager of Empire Mortgage Company, a firm that processes loan applications for a number of region

Elina [12.6K]

Answer:

a. Labor variances for 14 PT staff:

Labor rate variance = (Standard Rate – Actual Rate) x (Actual time per app) * (number of apps. completed)

= ($50 - $52) x 1.40 x 2,604

= $7291.20 (Unfavorable)

Labor Efficiency variance = [(Standard hours per app. X number of app.) - (Actual time per App. * number of apps.)] * Std. rate

= [(1.20 * 2,604) - (1.40 * 2,604)] * $50

= [3,124.80 - 3,645.60] * $50

= $26,040 (Unfavorable)

Labor Cost variance = Labor rate variance + Labor efficiency variance

= $7,291.20 (Unfavorable) + $ 26,040 (Unfavorable)

= $33,331.20 (Unfavorable)

Labor variances for 10 SD staff:

Labor rate variance = (Standard Rate – Actual Rate) x (Actual time per app) * (number of apps. completed)

= ($45 - $47) * 1.20 * 1,600

= $3840 (Unfavorable)

Labor Efficiency variance = [(Standard hours per app. X number of app.) - (Actual time per App. * number of apps.)] * Std. rate

= (1.40*1,600) – (1.20*1,600)]*$45

= [2,240 – 1,920] * $45

= $14,400 (Favorable)

Labor Cost variance = Labor rate variance + Labor efficiency variance

= $3,840 (Unfavorable) + $ 14,400 (Favorable)

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3 years ago

Keiko manages a team of graphic designers. She distributes a document describing in detail each task for an upcoming project. Ea

seraphim [82]

Answer:

responsibilities scope

Explanation:

Keiko is describing responsibilities for each team member so each one knowns what is expected from them

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3 years ago

Joe quits his computer programming job, where he was earning a salary of $65,000 per year, to start his own computer software

Verizon [17]

Answer:

The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.

Explanation:

The computation of the accounting cost and the economic cost is shown below:

Accounting cost = Other Expenses + Salary paid to himself

= $35000 + $40,000

= $75,000

Economic cost = Accounting cost + Salary expense + Rent expenses

= $75,000 + $65,000 + $25,000

= $165,000

8 0

3 years ago