<u>Solution and Explanation:</u>
(a). Firm in perfect competition produces at minimum efficient scale, MEC where average cost AC is minimum. The price is determined by the market supply and demand.
(b) Note that q1 is at the minimum of AC while Q* is to the left of q1. Similarly, P1 is equal to MC while P* is higher than MC. This shows that firms in perfect competition produce more and charge less than the firms in monopolistically competitive market.
(c) All firms in monopolistically competitive market as well as perfectly competitive market earn zero economic profit in the long run. This is because there is a free entry and exit
(d) Demand is steeper for firms in monopolistically competitive market so that demand is elastic. Demand is horizontal for any quantity which means it is perfectly elastic for a firm in competitive market.
Answer:
En este caso, EPD tiene un valor de 0,73, siendo menor que 1. Por lo que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio.
Explanation:
La elasticidad precio de la demanda (EPD) indica en qué medida los cambios en el precio alteran la demanda de productos o servicios concretos. En otras palabras, la elasticidad precio de la demanda señala cuánto varía la cantidad demandada de un bien cuando varía su precio.
Se calcula comparando el valor porcentual del cambio en el precio con el del correspondiente cambio en la demanda. Es decir, se define como el cambio porcentual en la cantidad demandada dividido por el cambio porcentual en el precio.
Si la EPD > 1, se dice que la demanda del bien es elástica y la cantidad demandada aumenta (disminuye) en mayor proporción en que baja (sube) el precio. La cantidad demandada aumenta (disminuye) en mayor proporción en que baja (sube) el precio.
Si la EPD < 1, se dice que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio. La demanda de un bien es inelástica cuando la reacción de los consumidores ante un cambio en el precio no es significativa.
Si la EPD = 1, se dice que la demanda del bien tiene elasticidad unitaria y la cantidad demandada aumenta (disminuye) en la misma proporción en que baja (sube) el precio.
<u><em>En este caso, EPD tiene un valor de 0,73, siendo menor que 1. Por lo que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio. </em></u>
The assessments of the currency of diversity plan is one that is centered around making a diversity plan that entails a lot of steps to make sure that the institution is said to be prepared to make a diversity plan.
It is one that seek to recognizes its role inside of a diverse community, and it is one that handles diversity in a meaningful and vital way.
<h3>What is in a diversity plan?</h3>
A diversity plan is known to be a kind of an actionable plan that tells more about one's business and how one can go about then.
It is one that is made up of people from a lot of backgrounds. It is a said to be a kind of a commitment by the company to make an environment that is fair.
Hence, The assessments of the currency of diversity plan is one that is centered around making a diversity plan that entails a lot of steps to make sure that the institution is said to be prepared to make a diversity plan.
Learn more about diversity plan from
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Answer:
Using the high-low method of cost estimation, total fixed costs are $47,020
Explanation:
Cost at highest level of activity = $82,000.00
Cost at Lowest level of activity = $59,000.00
Highest level of activity = 3,300
Lowest Level of activity = 1,130
Variable cost per unit = $(82,000 - 59,000) ÷ (3,300 -1,130)
Variable cost per unit = $23,000 ÷ 2,170
Variable cost per unit = $10.60
Fixed Costs = $82,000 - (3,300 × 10.60)
Fixed Costs = $47,020
Answer:
Please see explanation below
Explanation:
Cullumber Company
Bank reconciliation statement
Cash balance per bank statement $7,910.80
Add: Deposits in transit $1,316.30
$9,227.1
Less outstanding checks ($1,975.10)
Adjusted cash balance per bank $7,252
Cash balance per books $6,360
Add Electronics funds transfer received $1,635
Totalled $7,995
Less:
Bank service charge $17
NSF check $690
Error in recording check no. 2480
($384 - $348) $36
Total balance to be deducted ($743)
Adjusted cash balance per books $7,252
