Test marketing, the consumers don’t even know it’s being tested
Answer:
firm can change output levels without having any significant effect on price.
Explanation:
In the case when we say that the firm is a price taker that means the firm has the power to change the level of an output but this does not have any kind of impact on the price. They accepted the price for the prevailing market and each unit could be sold at the similar market price. It could impact the market price also they enjoy the pricing power
Therefore the above statement should be considered
Answer:
$3,355
Explanation:
Accounts receivables = $ 352,000
Debit Allowance for uncollectible accounts = 630
Net Sales = $797,000
The company estimates that 0.5% of net credit sales are uncollectible
Estimates of uncollectible receivables
= 0.5% × $797,000
=$3985
This is the total amount to be recognized at the end of the year as Bad Debts Expense. Since a debit of $630 has been recognized already, additional debit required
= 3985 - 630
= $3,355
The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $3,355.
Answer:
Algorithm II uses a heuristic approach to provide an approximate solution in reasonable time.
Explanation:
