Answer: Please refer to Explanation.
Explanation:
Monopoly.
The 2 reasons why the monopoly’s marginal revenue will always be less than its price are;
a) Even though Monopolies have very large influence on the prices of goods and services they offer, for a Monopoly to sell more goods, they generally have to lower their prices. This will lead to a situation where Marginal Revenue, which is the additional revenue made per additional unit sold will be less than Price because additional revenue for a new unit will be less than the last one because prices are dropped .
b) A Monopoly's demand schedule is downward sloping. This means that demand rises as prices drop. As prices drop therefore, more goods will be sold but the marginal revenue will be less because prices had to be dropped to get an additional unit to be sold. That unit therefore will bring in less revenue than the last unit.
Perfectly Competitive Market
In such a market, the seller is a Price Taker. This means that sellers in this market do not sell at a price that they want but rather at a price the market has established to be the Equilibrium. This is because of the high competition in the market. Since they are all selling at the same price, this means that every additional revenue they get is the same as the price the market charges. This means that Price equals Marginal Revenue in this market.
Answer:
Allworld Insurance
1. Mission Statement
2. Tactical
3. Strategic
4. Operational
Explanation:
(A) Tactical plans include specific actions to enable the achievement of company-wide strategies.
(B) Mission statement describes the goal of an entity. For example, a mission statement can describe an entity as renowned for its efficiency and cost reduction for its customers.
(C) Operational plans cover daily and routine activities at the individual level of the organization.
(D) Strategic plans embrace the whole organization and establishes how organizational goals will be achieved.
Answer:
The Multi-step income statement is attached, Please find it
Explanation:
The multi-step income statement is attached with this answer please find it.
Gain On Disposal will appear in the other income section of the multi-step income statement
Cost of goods sold will appear in the cost of goods sold section of the multi-step income statement
Depreciation expense will appear in the operating expense section of the multi-step income statement
Sales returns and allowances will appear in the sales / net sales section of the multi-step income statement
Answer:
B) 1.7
Explanation:
GDP deflator simply shows the occurring event of the level of prices in the economy which is why It is often the ratio of nominal GDP to real GDP.
GDP deflator in 2009 will be:
Norminal GDP
Cost of apple= $1 in 2009
Apple produced =5 in 2009
Cost of oranges= $1.50 in 2009.
Orange produce= 5 in 2009
$1.00*(5)+$1.50*(5)
=5+7.5
=$12.50
Real GDP
Cost of apple= $0.50 in 2002
Apple produced =5 in 2002
Cost of oranges= $1 in 2002
Orange produce= 5 in 2002
0.50*(5)+$1.00*(5)
=2.5+5
=$7.50
GDP deflator = Nominal GDP/Real GDP)
=$12.50/$7.50
=1.666
approximately 1.7
