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Annette [7]
3 years ago
10

Compared to a perfectly competitive industry, a single-price monopoly with the same costswill__________.A) create a deadweight l

oss. B) create less economic profit.C) create less consumer surplus. D) Both answers A and C are correct.
Business
1 answer:
gogolik [260]3 years ago
7 0

Answer:

The correct answer is D

Explanation:

Perfectly competition market or industry is the one in which it occurs when there exists many sellers, easy entry as well as exiting of firms, products are identical and sellers are the price takers.

Whereas in the single price monopoly, is the one where there is single firm selling the product at their own price, they are price maker. And comparing both at same cost will result in creating less customers surplus as well as create deadweight loss, which result in economic efficiency in relation to utility for producers.

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Consulting immediately paid $500 cash for utilities for the current month. Given the choices below, determine the general journa
Andru [333]

Answer:

a. Utilities Expense 500

    Cash 500

Explanation:

Given: Consulting immediately paid $500 cash for utilities.

As $500 cash been paid for utility expenses.

We know the golden rule of accounting transaction:

  • Personal accounts: Debit the receiver, credit the giver.
  • Impersonal real account: Debit what comes in, credit what goes out.
  • Impersonal Nominal account: Debit all expenses and losses, credit all profit and gains.

Paid for utility expense of firm is not the personal account, however, it is impersonal account. In the given case, cash is going out of business.

Therefore, Debit all expense and losses and credit what goes out of business.

Journal Entry of the transaction:

Debit utility expenses account--- $500

     Credit cash account--- $500

5 0
4 years ago
In your opinion, why is training vital to the success of any organization? What is the potential impact of lack of effective tra
katen-ka-za [31]

Answer/Explanation

Training allows the organization members to grow their knowledge base and improve their job skills to become more effective. Without training, there will be despondent employees, higher employment turnovers, low production rates, an unsafe working environment, abortive staff management, increased expenses, and loss of customers.

I hope this helps

8 0
3 years ago
If ticket prices were decreased by 10%, passenger flights would increase by 25%. However, total variable costs would increase by
mrs_skeptik [129]

Answer:

Net income will remain same.

Explanation:

Net income is no change in net income because the sales is increase as the price of decreased. Net impact is zero.

For Example:

Price = 100

Variable cost = 50

Flights = 100

Net income = (100-50) x  100 = $5,000

Revised Calculation

Price = 100 x 90% = $90

Variable cost = 50

Flights = 100 x 125% = 125

Net income = (90-50) x 125 = $5,000

There is no change in the net income.

7 0
4 years ago
Why wages differ
cestrela7 [59]

Answer:

Scenario Differences In Human Capital Compensating Differential Differences In Natural Ability Labor Unions An Economics Consulting Firm Hires Rina, A Recent PhD Graduate In Economics, And Pays Her An ... For each of the scenarios in the following table, indicate the most likely reason for the difference in earnings.

Explanation:

8 0
3 years ago
Describe the relationship between supply and demand in your own words
Tanzania [10]

Answer:

Supply: In economic terms, supply is the amount of resources or products that are provided by the company or an organization to the public or the targeted marketed. For example a toy making company would be providing toys to people with children, who are in need of toys.

Demand: It is an economic concept that states the need of a product or service. People or organizations have needs which are fulfilled by products and services. For example, the need for toys of people with children is known to be their demand which is then fulfilled by companies.

5 0
3 years ago
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