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vichka [17]
3 years ago
13

Many economists believe that the market for wheat in the United States is an almost perfectly competitive market. If one firm di

scovers a technology that makes its wheat taste better and have fewer calories than all other wheat offered in the market, the wheat market would become less competitive:
Business
1 answer:
disa [49]3 years ago
3 0

Answer:  c. the products would no longer be similar in the wheat market.

Explanation;

In a perfectly competitive market, goods are meant to be homogeneous which leads to stiffer competition as a consumer could just switch from one seller to another and still get the same utility as all products are similar.

If one product starts to taste better and have fewer calories, the products in the market will no longer be homogeneous and competition will decrease because switching to this newer wheat would increase a consumer's utility as opposed to not therefore more people will switch and other competitors will not be able to compete unless they start producing better wheat as well.

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What refers to the practices aimed at discovering and harnessing an organizations intellectual resources?
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3 years ago
Support Department Cost Allocation-Direct Method Charlie's Wood Works produces wood products (e.g., cabinets, tables, picture fr
aivan3 [116]

Answer:

a. 56%

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Explanation:

a. Janitorial costs are allocated based on square feet.

Assembly Department Square feet = 42,560

Total area for both departments = 42,560 + 33,440 = $76,000

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= 42,560/ 76,000

= 56%

b. Security costs are allocated based on asset value.

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8 0
3 years ago
On January 1, Novak Corp. issued $3600000, 14%, 5-year bonds with interest payable on December 31. The bonds sold for $3859546.
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Answer:

the debit entry to Interest Expense is $463,145.52

Explanation:

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Hence, the debit entry to Interest Expense is $463,145.52

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