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Alexxx [7]
3 years ago
7

A "price taker" is a firm that Question 8 options: does not have the ability to control the price of the product it sells. does

have the ability, although limited, to control the price of the product it sells. can raise the price of the product it sells and still sell some units of its product. sells a differentiated product. none of the above
Business
1 answer:
Masja [62]3 years ago
6 0

Answer:

Does not have the ability to control the price of the product it sells

Explanation:

A price taker is a firm that doesn't have the ability to control the price of the product they sell.

Price taker exist in a perfectly competitive market where individual firms cannot dictate prices of goods and services.

A perfectly competitive market is characterised by

1) presence of large number of buyers and sellers.

2) There is free entry and exit.

3) Sellers sell homogenous product, that is, identical product.

4) Buyers have access to information.

In contrast to price taker, we also have price makers who have the ability to control the prices of product they sell.

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Assume a division of Hewlett-Packard currently makes 12,000 circuit boards per year used in producing diagnostic electronic inst
madam [21]

Answer:

The net benefit is -$26,000

Explanation:

Given the above information,

The total cost of manufacturing 12,000 circuit boards

= 12,000 × $34

= $408,000

Total purchase price

= 12,000 × $34

= $408,000

Fixed overhead cost applied

= 12,000 × $6

= $72,000

The rental income = $46,000

Outsourcing cost

= Total purchase price + Fixed overhead cost applied - Rental income

= $408,000 + $72,000 - $46,000

= $434,000

Therefore, Net benefit

= Total cost of manufacturing - Outsourcing cost

=$408,000 - $434,000

= -$26,000

8 0
3 years ago
Accounting standard-setters use the following process in establishing accounting standards:__________. A. Discussion paper, rese
Sergeu [11.5K]

Answer:

Option D Research, discussion paper, exposure draft, standard.

Explanation:

The reason is that the International Accounting Standard Board conducts the research which includes the issues arising in the current standard due to advancement in environment. This requires that the company consider all the valuable suggestions fromt the professionals around the world. After a great discussion, the IASB chooses the best recommendations and publishes exposure draft which to review the judgement made. After careful review of the exposure, IASB issues new international accounting standard which results in abandoning the application of previous international accounting standard in two years time and opting to the new international accounting standard.

4 0
3 years ago
Read 2 more answers
Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,500 monthly. The contract currently sells for $115
vfiekz [6]

Answer:

1.30%

15.60%

16.77%

Explanation:

The monthly return is the amount payable monthly divided  by the current price of the investment vehicle.

monthly return=$1500/$115,000=1.30%

Annual percentage return=monthly return*12=1.30% *12=15.60%

Effective annual return=(1+1.30%)^12-1

EAR=1.167651776 -1

EAR=16.77%

5 0
3 years ago
Johnson & Coleman has created a new line of premium quality writing desks. The company marketed the product by highlighting
KIM [24]

Answer:

I believe the answer is d

Explanation:

4 0
3 years ago
Roe Corporation owns 2,000 shares of WRJ Corporation stock. WRJ Corporation has 25,000 shares of stock outstanding. WRJ paid $4
Fudgin [204]

Answer:

c. Debit Cash, $8,000; credit Dividend Revenue, $8,000

Explanation:

In the given scenario the number of shares owned by Roe Corporation is 2,000 shares out of a total of 25,000 shares.

So when dividend of $4 is given per share, Roe will have dividend of

Dividend = Number of shares * Dividend per share

Dividend = 2000 * 4

Dividend = $8,000

The entry to indicate reciept of the dividend will be Debit Cash, $8,000; credit Dividend Revenue, $8,000

Cash is an asset account. It increases as the debit balance increases.

So a reciept of $8,000 from the shares owned will result in a cash increase. Therefore cash is debited $8,000

Dividend revenue is a revenue account that increases as positive balance increases.

When the share dividend is recieved revenue increases.

Therefore we will credited Dividend revenue by $8,000 to recognise the increase in revenue

4 0
2 years ago
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