Answer:
D. usually produces an inefficiently small level of output.
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices is usually set by market forces. There is no need for advertising because all firms produce homogenous products. There is little or no need for government regulation because goods and services are efficiently distributed.
A monopoly is characterised by one firm in the industry. The firm sets the market price. The government regulates the activities of the activities of a monopoly to reduce inefficiency that usually occur. Either quantity produced or price are usually regulated by the government to reduce inefficiency and ensure fair distribution of goods and services.
Monopoly firms usually advertise and undertake more research activities when compared to a pure competition.
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Answer:
The direct labor cost is directly debited to work in process account of specific job and indirect labor cost is debited to factory overhead control account.
The summary journal entry to record factory labor used is given below.
Debit WIP JOB 1 $ 2,300
Debit WIP JOB 2 $ 1,780
Debit WIP JOB 3 $ 1,570
Debit Factory Overhead Control account $ 1,350
Credit Payrol account $ 7,000
Answer:
In simple words, Ethical behaviour requires reliability, dignity, justice and a number of other beneficial characteristics. Many companies are creating the Code of Ethics, which could include basic ethical compliance principles for doing the right thing or being honest. Relevant protocols within the company may also be listed.
Workers make more choices with less time using corporate principles as a driving proposition; that increases efficiency and the overall wellbeing of employees. As workers perform their jobs in a manner that is founded on fairness and dignity, the entire company profits.
There are nine major steps required to develop a well-crafted, strategic marketing plan: set your marketing goals, conduct a marketing audit, conduct market research, analyze the research, identify your target audience, determine a budget, develop specific marketing strategies, develop an implementation schedule for ...
There are interests rates in goods sold. If one believes interests rates will move lower in the months ahead, he or she should invest in long-term, fixed-rate savings investments is a false statement.
<h3>Does a higher rate of money supply lower interest rates?</h3>
Note that larger money supply often lowers market interest rates, thereby making it much lower expensive for consumers to borrow.
Investment one should choose today if you believe interest rates will go up is Short-term savings instruments. This is because by investing money in short-term savings instruments, one's money can be available to invest in any kind of higher interest instrument in the future.
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