Answer:
1. A monopolistically competitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location.- True
2.Product differentiation enables a monopolistically competitive firm to have some control over the price of its product- True
3.In the long run each monopolistically competitive firm produces a level of output that results in allocative efficiency.- False
4. In the long run each monopolistically competitive firm produces a level of output that results in productive efficiency- False
5.To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. -True
6. Compared with purely competitive markets, under monoplistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. -True
7.In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.True
Explanation:
Answer:Line,Batch and Job
Explanation:
An assembly line is a manufacturing process in which interchangeable parts are added to a product in a sequential manner to create an end product. ... The workers and machinery used to produce the item are stationary along the line and the product moves through the cycle, from start to finish.
Batch manufacturing is a style of manufacturing which compiles the different components of a product through step by step processes. This basically means that the raw materials move through the production line in batches, so that there is a pause between each step as a batch moves through.
Job production, sometimes called jobbing or one-off production, involves producing custom work, such as a one-off product for a specific customer or a small batch of work in quantities usually less than those of mass-market products.
Answer:
The increase in gross profit is $12,374.93
Explanation:
The increase in sales due to purchasing this new equipment is 25% of current sales figure of $750,000
increase in sales=$750,000*25%=$187,500
variable cost on the increase in sales is 55%=$187500
*55%=$103,125
The annual depreciation charge on the new equipment=cost of the new equipment-salvage value/useful life
cost of the new equipment is $357,500.37
salvage value is $0
useful life of the new equipment is 5 years
annual depreciation charge=($357,500.37-$0)/5=$ 71,500.07
Increase/(decrease) in annual gross profit=$187,000-$103,125-$
71,500.07 =$12,374.93
Answer:
Which of these situations can be handled by using the Management Information Systems?
An organization needs different types of managements to achieve business goals smoothly. However, managers, executives, and employees face problems and hurdles while running the organization. Sometimes, there are problems in the inventory department. At times, the organization faces problems with the performance of their products in the market. Decision makers of the organization are not able to take proper decisions. Employees face technical issues while feeding data into a database.
Explanation:
Answer:
mode
Explanation:
The mode is the most common value in a data set. In this case, the frequency distribution was 7 A's, 10 B's, 18 C's, 4 D's and 1 F, since C is the most common grade, it is the mode.
Only if this was a normal distribution, the mode should be equal to the mean and the median. In this case the median is also C (the number in the middle), but if we assign numbers to the grades (A=5, B=4, C=3, D=2 and F=1) the mean = 3.45.
