Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly
Explanation:
Cournot Model: In Cournot model, firms produce output independently and then set their prices. In this type of model, the products are typically standardized.
Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.
Bertrand Model: In this model, firms have interaction with buyers in order to set prices and quantities.
Answer:
B. Memory
Explanation:
Mnemonics are a tool to aid memory.
The fixed cost of producing wedding cakes is <u>$10,000 </u>per month. The variable cost for producing 10 wedding cakes per month is <u>$12,000</u>. The average cost of producing 10 wedding cakes per month is <u>$2,200</u>.
The average fixed cost curve associated with a given level of output decreases as output expands. The total product produced by a firm for each level of output or unit of input used. Fixed costs include rent building or machinery. Variable costs are plant products water and seeds.
Fixed costs do not change as the firm changes levels of production. Rent price salary. Variable costs change according to the company's production volume. Fuel costs wage raw materials and parts. The cost of goods sold to trading companies directs materials direct labor costs variable components of manufacturing overheads sales and administrative expenses such as handling and shipping costs.
Learn more about Fixed costs here:- brainly.com/question/3636923
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Answer:
In a production process new raw materials are considered_____ whereas the finished products are considered______
WIP (Work IN Process)
Units for Sale/ Raw Material for other Processes
Explanation:
WIP (Work IN Process)
The raw material in WIP is converted to useful material for other processes.
Work in process consists of materials labor factory overhead or collectively called as conversion costs. In Work in Process these are completed fully or to a certain limit and send to other processes for further work.
Units For sale
Finished goods are ready for sale and send to desired stores or ware houses for storage and further dispatching to retail stores.
Sometimes these units further need servicing or processes in other departments to make a complex unit . In these situations they are considered raw material for other processes.
Answer:
$35,300 (Credit)
Explanation:
Given that;
Allowance = 10% × $242,000 = $24,200
Amount written off of $34,200 would have made the balance in the allowance for doubtful debts
= $34,200 - $23,100
= $11,100 (Debit)
However, the balance in the account at the end of the year should amount to $24,200 hence the adjustment required
= $24,200 + $11,100
=$35,300 (Credit)
