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3 years ago

1. For a firm in a perfectly competitive market, the price of the good is always

Business

1 answer:

andreyandreev [35.5K]3 years ago

4 0

Answer:

A). equal to marginal revenue.

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

Price = marginal revenue = average revenue

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If a retailer needed help with store design and training sales personnel, it would most likely use the services of a?

Jet001 [13]

If a retailer needed help with store design and training sales personnel, it would most likely use the services of a full-service wholesaler.

A service is "an act or use for which a consumer, commercial enterprise, or authorities is inclined to pay." Examples include paintings by way of hairdressers, medical doctors, lawyers, mechanics, banks, coverage organizations, and many others. Public offerings are paid for by society as a whole.

Lively occupation or role. b : Employment as a servant has started. 2a : work finished with the aid of good humans. b : assist, use, use like helping.

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2 years ago

One way to interpret the change in Blue Hamster's accounts receivable balance from Year 1 to Year 2 is that more customers purch

mash [69]

Answer:

The balance of account receivable for year 2 is increase from the balance of year 1.

Explanation:

The balance of account receivable for year 2 is increase from the balance of year 1. This means the thee are more credit sales and less receipts from the customers in year 2 as compared to Year 1. Credit sales increases the account receivable balance but it should be settlement in the form of receipts from the customers.

6 0

4 years ago

In September 2019, the budget committee of Jason Company assembles the following data: 1. Expected Sales October $1,800,000 Nove

Sliva [168]

Answer:

$1,068,000

Explanation:

JASON COMPANY

Budgeted Income StatementFor the Month Ended October 31, 2019

Sales $1,800,000

Cost of goods sold

Inventory, October 1 $216,000

Purchases $1,068,000

Cost of goods available for sale $1,284,000

($1,068,000+$216,000)

Less: Inventory, October 31 $204,000

Cost of goods sold $1,080,000

($1,284,000-$204,000)

Gross profit $720,000

($1,800,000-$1,080,000)

Supporting Computations:

Budgeted cost of goods sold $1,080,000

Desired ending merchandise inventory 204,000

Total $1,284,000

Less: Beginning merchandise inventory ,($216,000)

Budgeted merchandise purchases$1,068,000

October

$1,800,000 × 60% = $1,080,000.

($1,700,000 × 60%) × 20% = $204,000.

$1,080,000 × 20% = $216,000.

6 0

3 years ago

After the stomach food passes through

Angelina_Jolie [31]

Answer:

After food enters your stomach, the stomach muscles mix the food and liquid with digestive juices. The stomach slowly empties its contents, called chyme, into your small intestine. Small intestine.

Explanation:

5 0

2 years ago

Prior to recording adjusting entries, the Office Supplies account had a $363 debit balance. A physical count of the supplies sho

drek231 [11]

Answer:

Explanation:

The adjusting entry is shown below:

Office supplies expense A/c Dr $257

To Office supplies $257

(Being adjusted entry recorded in respect of office supplies)

Since in the question it is given that, the debit balance of office supply is $363 and the physical count show $107 unused supplies which mean it is of no use. So, the actual amount of office supplies would be calculated by applying an equation which is shown below:

= Office supplies debit balance - unused office supplies

= $363 - $107

= $257

Moreover, the office supply is shown in the balance sheet under the assets account. And, to find out the correct value of the office supply we debit the expense account and credit the asset account.

7 0

3 years ago