As an Oligopoly firm produces at a higher output, economies of scale allow the costs per unit (ATC) to <u>decline</u> significantly.
When firms in an oligopoly market individually chooses production in order to maximize profit, a quantity of output is produced by them which is higher than the level produced by monopoly and lesser than the level produced by competition.
The existence of economies of scale in certain industries can lead to oligopolistic market structures in those industries. This oligopoly market structure refers to a market form in which there are only a few sellers and they sell similar products.
The Oligopoly firm produces at a higher output, and so the costs per unit here decline significantly. Oligopoly firms are also able to take advantage of economies of scale that reduce production costs and prices.
Thus, when the oligopoly firm produces at a higher output, economies of scale allow the costs per unit (ATC) to decline significantly.
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Answer:
Option A, total debits to the inventory account would be $37,800, is correct
Explanation:
The cost of the merchandise inventory to Wilson Company is the cost of the inventory purchased and the freight-in cost.
In other words, the amount to be recognized in merchandise inventory account is the sum of both amounts i.e $35,000+$2800=$37,800
This would be debited to merchandise inventory and $2,800 would be credited to the cash account while $35,000 is credited to accounts payable
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Answer:
CPI and WPI
Explanation: Consumer Price Index measures the percentage change in the price of a basket of goods and services consumed by households. Wholesale Price Index is the price of representative of basket of wholesale goods.
