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Alecsey [184]
3 years ago
13

Does anyone know anything on accounting????

Business
1 answer:
Dafna1 [17]3 years ago
6 0
Pick a new career bro
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In the long run equilibrium, a monopolistic competitor will produce to the point at which A) actual average total costs are at t
Artemon [7]

Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.

Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.

3 0
3 years ago
Each statement below is part of an economic model. Indicate whether the statement is a prediction of cause and effect or an assu
aivan3 [116]

Answer:

(a) Assumption

(b) Cause and Effect

(c) Cause and effect

(d) Assumption

Explanation:

(a)  People behave rationally: Assumption

Rational behavior refers to a decision-making process that is based on making assumptions that result in an optimal level of benefit or utility.

(b) Cause and Effect

If a price of goods falls that is a cause and the effect is that  people will consume more of the good.

(c) Cause and effect

As the population grows faster than food supply (cause), mass starvation is predicted to occur which is the resultant effect.

(d) Assumption

The maximization of profit is based on the assumption of theory of production and costs.

4 0
3 years ago
Read 2 more answers
The Box Manufacturing Division of the Allied Paper Company reported the following results from the past year. Shareholders requi
Galina-37 [17]

Answer:

Return n investment = 11.67%

Explanation:

Return on Investment is the proportion investment that is earned as operating income.

For the division, the return on investment would be the proportion of te investment in assets that is earned as  net income.

This would be determined as follows;

Return n investment = (Net income÷ Operating assets) × 100

Return n investment = (175,000   ÷ 1,500,000) × 100= 11.67%

Return n investment = 11.67%

3 0
3 years ago
Annissa has been working in the Boulevard Building Company for seven years. She is dedicated to her work and tries to follow the
Brums [2.3K]

Answer: <em>True</em>

Explanation:

The following statement is true, i.e. In accordance to the equity theory, she will try to change the working habits. The equity theory mostly concentrates on evaluating whether the allocation of commodities and resources is impartial to both of the relational partners. Here, equity is evaluated by contrasting the ratio in between the costs and rewards for each individual.

3 0
3 years ago
explain how Adam Smith describes the market economy and role of consumers , producers , workers, savers ( investors) , and borro
astraxan [27]

Answer:

As described below.

Explanation:

  • As explained by Adam smith a market economy in his wealth of nations. Which is an interplay of the supply and demand, where the role of the customer's producers and the worker's investors and the borrows all follow the economic system and the market as an invisible hand, that comes from the producers and he consumers interact indirectly and directly
  • As the consumer and producers engage in commercial production thus the idea of a free-market took place. The government interferes with the services where unwanted shortages and the surplus tends to occur.
  • The free markets to regulate themselves by means of competition, among the workers and the borrowers.
8 0
3 years ago
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