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ivolga24 [154]
2 years ago
6

An important similarity between a monopolistically competitive firm and a purely competitive firm is that:_________-a. realize a

n economic profit in the long run.b. achieve allocative efficiency.c. face demand curves that are less than perfectly elastic.d. achieve productive efficiency.
Business
1 answer:
marusya05 [52]2 years ago
6 0

Answer:

a. realize an economic profit in the long run.

Explanation:

A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. Thus, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.

Hence, one of the ways in which some monopolistic competitors try to become more like monopolists is through the use of designer labels.

This ultimately implies that, when there are barriers to entry it may result in monopolistic competition among the sellers of goods having no close substitutes. These barriers consist of economies of scale, network externalities, copyright law, trademark, patent, governmental policies etc.

In a purely competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Hence, a purely competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

An important similarity between a monopolistically competitive firm and a purely competitive firm is that realize an economic profit in the long run and these profits tends toward zero as both firms continue in the market.

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he Talley Corporation had a taxable income of $345,000 from operations after all operating costs but before (1) interest charges
Setler79 [48]

Answer:

(a) The firm's Income tax liability is $59,771.25.

(b) The firm's after-tax income is $233,478.75.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows

The Talley Corporation had a taxable income of $345,000 from operations after all operating costs but before (1) interest charges of $69,000, (2) dividends received of $17,250, (3) dividends paid of $20,700, and (4) income taxes. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall 50% of dividends received are tax exempt. What are the firm's income tax liability and its after-tax income?

The explanation to the anwer is now given as follows:

Adjusted taxable income = Income after operation - Interest charges + Taxable dividend received ................. (1)

Where;

Income after operation = $345,0000

Interest charges = $69,000

Taxable dividend received = 50% * $17,250 = $8,625

Substituting the values into equation (1), we have:

Adjusted taxable income = $345,000 - $69,000 + $8,625 = $284,625

(a) Income tax liability = Adjusted taxable income *  Tax rate = $284,625 * 21% = $59,771.25

(b) After-tax income = (Adjusted taxable income - Income tax liability) + (50% of dividend received) = ($284,625 - $59,771.25) +  (50% * $17,250) = $224,853.75 + $8,625 = $233,478.75

3 0
3 years ago
Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transaction
soldi70 [24.7K]

Answer:

i think your answer is correct

Explanation:

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3 0
3 years ago
Paul’s will creates a General Power of Appointment Trust (GPOA) that distributes income to his wife annually for life and gives
Ivanshal [37]

Answer: D. The GPOA Trust automatically qualifies for the unlimited marital deduction because Paul's wife has a general power of appointment over the trust's assets.

Explanation:

General Power of Appointment Trust (GPOA) refers to a power of appointment which is a legally binding provision that's contained in a trust such that the beneficiary possess the authority to alter the beneficiaries of the trust.

In this case, Paul's wife possess the power of appointment to anyone on her behalf. Therefore, The GPOA Trust automatically qualifies for the unlimited marital deduction because Paul's wife has a general power of appointment over the trust's assets.

3 0
2 years ago
Your colleagues at work are constantly talking about the vice-president in your region. He is perceived throughout the organizat
sergij07 [2.7K]

Answer:

The correct answer is B) coercive.

Explanation:

A coercive boss is a rigid and inflexible leader. When this style is used, the leader chooses to give many direct orders without offering his subordinates the opportunity to express their ideas and opinions.

This leader not only does not opt for the reward system but also focuses on criticizing and punishing the failures generated by disobedience. Therefore, the motivation of the team suffers greatly from the inability of employees to perceive that thanks to their work, business objectives are being achieved.

It is usually the least effective management style but ... it may be recommended in crisis situations when it is necessary to show authority and employees need clear and direct orders.

5 0
3 years ago
In the trial balance for March, you see that Notes Receivable-Fast Feet Co. has a negative balance of $135, which would seem to
eduard

Answer:

Explanation:

1. The computation of the term of the note is shown below:

It is computed from the November 19 to March 19

So,

November - 11 days

December - 31 days

January - 31 days

February - 28 days

March - 19 days

Total - 120 days

2. In this part, we apply the simple interest formula which is shown below:

Simple interest = Principal × interest rate × (number of days ÷ total number of days in a year)

$135 = $4,500 × interest rate × 120 days ÷ 360 days

$135 = $4,500 × interest rate × 0.3333

So, the interest rate is 9%

We assume the 360 days in a year

And, the simple interest is computed by $4,635 - $4,500 = $135

3. The journal entry is shown below:

Interest expense A/c Dr

      To Interest payable

(Being the interest expense is recorded)

The computation of the interest expense is shown below:

= November note receivable × interest rate × (number of days ÷ total number of days in a year)

= $4,500 × 9% × 42 days ÷ 360 days

= $47.25

We assume the entry is made on November 19 and the books are closed on December 31

So, the 42 days would be 11 days of November and 31 days of December

3 0
3 years ago
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