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3 years ago

Which characteristic does monopolistic competition NOT have in common with perfect competition?

Business

1 answer:

OverLord2011 [107]3 years ago

4 0

Answer:

C. Products of individual firms are different.

Explanation:

The monopolistic competition market has many competing sellers and manufacturers (businesses). In this type of market, firms compete by producing substitute (differentiated) goods that can replace each other, while not competing homogeneous goods. The production of differentiated goods gives this market both a competitive and monopolistic feature, but prices cannot be determined by a small number of companies due to the large number of sellers in the market. The important thing in the monopolistic competition market is that the goods are interesting, preferred and indispensable.

Monopolistic competition features:

1) There are many sellers.

2) Differentiated products, products are not exactly the same as in the competitive market.

3) Firms are not determining the price.

4) Each firm has a decreasing demand curve.

5) Companies can enter and leave the market without restrictions. This traffic continues until the profit of the companies becomes worthless.

Perfect competition market; In a market, it is the market where no seller has the power to influence the price of the product he sells. There are very strict conditions for a market to be in perfect competition, and therefore it is difficult to find a full competition market in the real world. In full competition, P = MR = D and parallel to the quantity axis

By saying the Conditions of Perfect Competition Market-perfect competition market is based on four assumptions:

1) There are many buyers and sellers in the market.

2) Homogeneity Condition: Each firm produces and sells the same and homogeneous type product.

3) Mobility Condition: Firms can easily enter and exit the market.

4) Clarity Condition: Buyers and sellers have all the information about the market.

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At the end of April, Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following informatio

baherus [9]

Answer:

Job 765 Job 766

Direct material $5,670 $8,900

Direct labor $3,500 $4,775

Overhead $5,400 $8,800

(27*200) (44*200)

Total Job cost $14,570 $22,475

b) Cost per unit = Total job cost/unit produced

Job 765 = $14,570/152 units

Job 765 = 95.86

Job 766 = $22,475/250 units

Job 766 = 89.90

8 0

3 years ago

In one state, a mortgagee holds legal title to real property offered as collateral for a loan, and the mortgagor retains the rig

True [87]

Answer:

Lein Theory.

Explanation:

Lien theory refers to the theory in which the buyer stops the property deed at the time of the mortgage. Also the buyer promised to pay all the payments so that the mortgage could become a lien on a property but at the same time the title would remain with the buyer but if all the payments are paid so the lien could be removed

Therefore in the given situation, it represents the lien theory

7 0

3 years ago

Allen Lumber Company had earnings after taxes of $750,000 in the year 2015 with 300,000 shares outstanding on December 31, 2015.

GarryVolchara [31]

Answer:

Earning per share for the year 2016 is $2.68

Explanation:

For computing the earning per share, we have to use the formula of earning per share which is shown below:

= Net income ÷ total number of outstanding shares

where,

Net income is $937,500

And, the total number of outstanding shares equals to

= 2015 shares + 2016 shares

= 300,000 + 50,000

= 350,000

Now put these values to the above formula

So, the earning per share would be equals to

= $937,500 ÷ 350,000 shares

= $2.68

The earning after tax is not considered. Thus, it is ignored.

Hence, earning per share for the year 2016 is $2.68

4 0

3 years ago

On December 1, 2020, Bramble Corporation incurs a 15-year $1300000 mortgage liability in conjunction with the acquisition of an

weeeeeb [17]

The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is $15600.

<h3>Mortgage liability </h3>

Mortgage liability limits the liability of potential third parties who were not involved when the mortgage was arranged. For example, if a mortgage is in arrears, the debtor has to pay the outstanding principal and interest, plus late payment and other charges.

<h3>What is mortgage asset or liabilities?</h3>

A current liability for

1) the principal payments that will be coming due within one year after the balance sheet date, and

2) any accrued interest that is owed as of the balance sheet date.

To learn more about current liability visit the link

brainly.com/question/14287268

#SPJ4

6 0

2 years ago

Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual

babunello [35]

Answer: Please refer to Explanation

Explanation:

a. No Effect on Taxable Income.

First off Joe's income is only dependent on if the test is successful. Even if it were, the test would only be conducted in year 1 March not in year 0 which is the focus of this question. Taxes are only paid when cash is received.

b. No Effect on Taxable Income.

Had there been a business discussion, Joe would have been able to claim a 50% deduction in Tax. However since there was none, there is no effect on Tax.

c. No effect on Taxable Income

The insurance is not tax deductible.

d. $12,750 in taxable income.

Even Joe believes that $2,750 of income might not be collected, he cannot deduct this from taxes until it actually happens therefore his increase in income is $12,750.

e. $2,250 reduction in taxable income

The $6,750 was paid for 3 months. Joe uses Accrual accounting however meaning that expenses have to be recorded for the period they are incurred. $2,250 was incurred for December and so that is the amount that will be deducted as an expense for the year.

f. $1,600 reduction in Taxable income.

If the representative brings back receipts that are in order, Joe can be able to reimburse her for $1,600 in expenses. This includes $550 for airfare, $600 for lodging and for food and entertainment, the maximum he can claim as deductible in tax is 50% of each which means $250 for meals and $200 for entertainment. Adding all that up will give $1,600.

g. $139.15 reduction in Taxable income

Joe drove 96 miles to and fro the factory to his house. This is not tax deductible and considered personal. He however drove 245 miles visiting company sites. This is tax deductible.

The standard rate for 2020 according to the IRS is 57.5 cents per mile so 245 * 57.5 cents per mile will give $139.15.

h. $345 reduction in taxable income

Joe spent $175 to attend to symposium. He also paid $95 in taxi fare to get to the symposium. He ate meals worth $150 during the symposium not which 50% is deductible. 50% being $75. Adding all these together is,

= 175 + 95 + 75

= $345.

This is the taxable reduction.

3 0

3 years ago