1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wel
3 years ago
12

Confronted with the same unit cost data, a monopolistic producer will charge Group of answer choices

Business
1 answer:
dsp733 years ago
5 0

Answer:

a higher price and produce a smaller output than a competitive firm

Explanation:

A monpolistically competitive firm is a firm that :

1. Sells differentiated products from other firms in the industry.

2. Has many buyers and sellers

3. Is a price maker

4. Has no barrier to entry or exist of firms

An example of a monpolistically competitive firm is a resturant.

A competitive firm is a firm that:

1. Sells identical goods with other firms in the industry.

2. Is a price taker . Prices are set by forces of demand and supply

3. Has many buyers and sellers

4. There are no barriers to entry or exist of firms.

When a monopolistic and competition firm are faced with the same unit cost, a monopolistic firm would aim to earn profit by increasing its price and reducing the quantity produced.

While a perfect competition would sell at the price set by the forces of demand and supply. The firm can increase the quantity produced in order to increase revenue.

A monopolistic firm is able to charge a higher price for its products while a perfect competition isn't.

You might be interested in
Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly fina
NISA [10]

1)The estimated ending inventory is $48,236

2)The estimated ending inventory is $72,000

Explanation:

1)For the given values the beginning inventory,net purchases, freight-in, cost of goods available for sale , cost of goods sold, net sales, less estimated gross profit, estimated inventory before theft, stolen inventory and estimated ending inventory are calculated in the given system.

The estimated ending inventory is $48,236

2)

For the given values the beginning inventory,net purchases, freight-in, cost of goods available for sale , cost of goods sold, net sales, less estimated gross profit, estimated inventory before theft, stolen inventory and estimated ending inventory are calculated in the given system.

The estimated ending inventory is $72,000

4 0
3 years ago
An income statement for Sam's Bookstore for the first quarter of the year is presented below:
Paladinen [302]

Answer:

The contribution margin for Sam's Bookstore for the first quarter is $163,000.

Explanation:

The contribution margin is the sales minus total variable cost. This can be calculated as follows:

Units of books sold = Sales / Selling price per book = $900,000 / $60 = 15,000

Variable selling expenses = Units of books sold * Variable selling expenses per book = 15,000 * $5 = $75,000

Variable administrative expenses = Sales * 3% = $900,000 * 3% = $27,000

Total variable cost = Cost of goods sold + Variable selling expenses + Variable administrative expenses = $635,000 + $75,000 + $27,000 = $737,000

Contribution margin = Sales - Total variable cost = $900,000 - $737,000 = $163,000

Therefore, the contribution margin for Sam's Bookstore for the first quarter is $163,000.

5 0
3 years ago
An economy that maximizes its scarce resources and can deliver the right goods in the right quantity to the right people at the
AlekseyPX

Answer: Efficiency.

Explanation:

An economy is said to be efficient if the economy is able to make the best use of the available resources found in that economy, in meeting the needs of consumers within the economy and even exporting to consumers found in other economies.

7 0
3 years ago
In an emergency situation, such as a life-threatening trauma in an emergency room, a supervisor must be:_______.
weqwewe [10]

Answer:

d. direct and assertive.

Explanation:

In an emergency situation, such as a life-threatening trauma in an emergency room, a supervisor must be direct and assertive.

When there's an emergency situation, this ultimately implies a life and death situation which is typically characterized by having someone being in a very critical and dangerous condition. In order to be able to save such an individual or situations, it is very important and essential to have a direct and assertive supervisor who is in charge or control of the emergency situation and capable of making quick decisions that would most likely salvage the situation.

A supervisor who is assertive is confident, bold and positive about his or her instructions in any situation, which is a prerequisite quality to overcome emergencies.

8 0
3 years ago
​________ is the degree to which employees believe the organization values their contribution and cares about their​ well-be
shtirl [24]

Answer:  

Organizational commitment                  

Explanation:

Organizational loyalty or commitment refers to the relationship of the bond that workers share with their organization. Overall, workers who are engaged in their organization usually feel connected to the organization, these workers assume that they suit in and make sure that they comprehend the organization's objectives.

Such workers ' economic value would be that they appear to become more motivated in their job, demonstrate fairly high efficiency, and are much more assertive in providing support.

8 0
3 years ago
Other questions:
  • Calculate the GDP of Dinoland using the expenditures approach given the following data: personal consumption expenditures = $10
    13·1 answer
  • Unlike a product advertisement, an institutional advertisement may have __________ as an objective? select one:
    14·1 answer
  • Tickets to see Willie Nelson cost $40. On any given day, you would be willing to pay up to $50 to see and hear Willie Nelson per
    15·1 answer
  • Steve Burton recently sold the bookstore he inherited from his mother because his income had fallen three years in a row. The ne
    11·2 answers
  • According to "The US Economy: Private and Public Sectors", goods provided by government that fit the definition of a public good
    5·1 answer
  • The wage is currently $20 per hour. There is no non-labor income.
    5·1 answer
  • Many firms choose not to implement operational components of ERP software and instead elect to create their own propriety soluti
    5·1 answer
  • Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accountin
    5·1 answer
  • Scenario 4:
    15·1 answer
  • Average total cost is very high when a small amount of output is produced because.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!