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3 years ago

Which industry is an example of monopolistic competition

Business

1 answer:

Black_prince [1.1K]3 years ago

8 0

<h2>Independently owned and operated high-street stores and restaurants is an example of monopolistic competition.</h2>

Explanation:

The model of monopolistic competition describes a common market structure in which firms have many competitors, but each one sells a slightly different product.

Clothing industry- Marketing and branding is the main separator between different evidently similar black shirts.
The fast-food industry- where a burger made by McDonald’s is quite similar to a burger made by Burger King, though consumers usually have a preference between the two chains.
Independently owned and operated high-street stores and restaurants- In the case of restaurants, each one offers something different and possesses an element of uniqueness, but all are essentially competing for the same customers.

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he following information was taken from the 2018 financial statements of Jenny Gardner Corporation: Inventory, January 1, 2018 $

Volgvan

Answer:

$770,000

Explanation:

Purchase = Ending inventory +Cost of goods sold- Beginning inventory Purchased

= $240,000+$800,000-$180,000= $860,000

Cash paid to suppliers = Beginning AP+ Purchased -Ending AP Cash Payments

= $150,000+$860,000-$240,000 =

$770,000

Therefore the amount that Jenny Gardner should report as cash payments to suppliers is $770,000

4 0

3 years ago

What information is the buyer entitled to?

erastovalidia [21]

Answer:

notbuiseness

Explanation:

7 0

3 years ago

Required information

Paladinen [302]

Answer:

Hudson Co.

1. Amount of sales dollars

= $2,430,000

2. Margin of safety (in percent)

= 33%

3-1) Contribution margin per unit = $45

2) Contribution margin ratio = 20%

3) Break-even point in units = 7,200 units

4) Break-even point in sales dollars = $1,620,000 $255

Explanation:

a) Data and Calculations:

HUDSON CO.

Contribution Margin Income Statement

For Year Ended December 31, 2019

Sales (9,600 units at $225 each) $ 2,160,000

Variable costs (9,600 units at $180 each) 1,728,000

Contribution margin 432,000

Fixed costs 324,000

Pretax income $ 108,000

Contribution margin per unit = $45 ($432,000/9,600)

Contribution margin ratio = 20% ($45/$225 * 100)

Break-even point in units = 7,200 ($324,000/$45)

Break-even point in sales dollars = $1,620,000 ($324,000/0.20) $255

1. With target pretax income of $162,000:

Amount of sales dollars = (Fixed cost + Target profit)/Contribution margin ratio

= $2,430,000 ($324,000 + $162,000)/0.20

2. Margin of safety (in percent)

1. Amount of sales = $2,430,000

2. Margin of safety = $810,000 ($2,430,000 - $1,620,000)

Margin of safety in percentage = 33% ($810,000/$2,430,000 * 100)

6 0

3 years ago

October<br>-<br>Battle of Gonzales.

Anestetic [448]

Answer:

What do you want me to answer?

Explanation:

8 0

3 years ago

If a business entity entered into certain related party transactions, it would be required to disclose all of the following info

Nitella [24]

Answer:

A. the nature of any future transactions planned between the parties and the terms involved

Explanation:

If a business entity entered into certain related party transactions, it would be required to disclose details such as the dollar amount of the transactions for each of the periods for which an income statement is presented,amounts due from or to related parties as of the date of each balance sheet presented,nature of the relationship between the parties to the transactions.

These options are related with the current transactions involved between the two parties.

It will however be wrong and unethical to disclose the nature of any future transactions planned between the parties and the terms involved.

7 0

4 years ago