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3 years ago

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.

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The _________________ is an accounting method that (a) estimates bad debts expense from credit sales during the period sales are

oksian1 [2.3K]

Answer:

A) Allowance method of accounting bad debts

Explanation:

Based on the allowance method, the bad debts should be calculated on either credit sales i.e. income statement method or receivable aging method i.e. balance sheet method. Also, the account receivable should be recognized at net realizable value

Therefore the allowance method of accounting bad debts is an answer

5 0

3 years ago

Widget Maker Manufacturing uses job costing. In May, material requisitions were $ 44,300 ($ 39,700 of these were direct mater

Airida [17]

Answer:

Beginning Material = $11,500

Explanation:

given data

material requisitions = $44,300

direct materials = $39,700

raw material purchases = $58,100

end month balance raw materials inventory = $25,300

to find out

beginning raw materials inventory balance

solution

we know that Beginning Material is express as here

Beginning Material = Ending Material - Purchases + Requisitions ..............1

put here value in equation 1 we get

Beginning Material = Ending Material - Purchases + Requisitions

Beginning Material = $25,300 - $58,100 + $44,300

Beginning Material = $11,500

3 0

3 years ago

James hayes owns 510 shares of ohio utility preferred stock. if this preferred stock issue pays $3.50 per share, what is the tot

katovenus [111]

The total amount of the dividends that Mr. James Hayes will receive in one year is $1785 total dividend.
The formula to get the total dividend is simply multiply the shares by stock issue per share. In this question we have 510 shares and stock issue pay $3.50 per share.
$3.50 per share * 510 shares = $1785 Total dividends

8 0

3 years ago

In the new product development process, ideas that pass the idea screening step continue through ________. Strong concepts pro

sladkih [1.3K]

Answer:

B. product concept development; marketing strategy development

Explanation:

Product concept development is the stage at which a lot of product ideas are generated, and new product are screened with the purpose of identifying good ideas and discarding poor ones on time. The new product concepts are then tested at this stage with a group of target consumers in order to discover the concepts with strong consumer appeal.

After product concept development, strong concepts proceed to marketing strategy development which, based on the product concept, is the stage at which an initial marketing strategy for a new product are designed.

6 0

3 years ago

Assume that by devoting all of its resources to the production of x, nation alpha can produce 40 units of x. by devoting all of

riadik2000 [5.3K]

Answer:

B) alpha should specialize in y and beta in x.

Explanation:

the production possibilities frontier of nation Alpha are:

40 units of X
60 units of Y

the opportunity cost of producing 1 unit of X = 60 / 40 = 1.5 units of Y

the opportunity cost of producing 1 unit of Y = 40 / 60 = <u>0.67</u> units of X

the production possibilities frontier of nation Beta are:

60 units of X
40 units of Y

the opportunity cost of producing 1 unit of X = 40 / 60 = <u>0.67</u> units of Y

the opportunity cost of producing 1 unit of Y = 60 / 40 = 1.5 units of X

Alpha should specialize in producing Y and Beta should specialize in producing X because their opportunity costs are lower.

7 0

3 years ago