Answer:
B) a monopolist's demand curve is the same as the market demand curve
Explanation:
The demand curve is downward sloping for both monopolies and competitive markets. Rational consumers will always buy larger quantities of products or services when their prices are lower, and inversely will buy less when the price if higher. This applies to all types of markets except monopsonies (a lot of suppliers and only one consumer).
Answer:
b. marginal cost curve above the average variable cost curve.
Explanation:
A perfect competitive indsutry is a characterised by many firms selling homogenous goods and services. Firms are price takers and there are no barriers to entry or exit of firms in the industry.
The supply curve of a perfectly competitive firm in the short run is the part of the marginal cost curve that lies above the average variable cost curve.
A perfect competition maximises profit where price equals marginal cost.
I hope my answer helps you
Answer:
The journal entries to record service revenue during July should be:
Dr Cash 3,600
Cr Service revenue (80 hours per month) 3,600
Dr Accounts receivable [(115 - 80 hours) x $40] 1,400
Cr Service revenue 1,400
Since the company has collected only the regular hours provided according to the contract, the remaining hours should be recorded as accounts receivable.
Answer:
The answer is $61,000
Explanation:
An impairment loss is recognized when the carrying amount of an asset is less than its fair value(prevailing market price).
The difference between the carrying value and fair value is written off. Carrying amount is the cost of acquiring an asset minus any subsequent depreciation and impairment charges.
Impairment Loss = Book Value – Market Value
Impairment Loss = $177,500 - $116,500
Impairment loss is $61,000
