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:
I believe the answer is D!
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Answer:
The true statement is "The cumulative translation adjustment account affects the amount of gain or loss reported upon the sale of a foreign subsidiary".
Explanation:
The current technique needs that each one quality and accountability books be interpreted at this rate whereas shareholders’ justice accounts are interpreted at ancient altercation rates. The distinction is mirrored finished the additive conversion alteration, therefore the quantity of improvement or loss according upon the auction of a distant secondary to the additive conversion alteration.
Answer:
D.) $75,000
Explanation:
Amount of revenue recognized = Cost incurred to date / Estimated total cost * Contract price
Cost incurred to date=60,000
Estimated total cost=400,000
Contract price=500,000
Amount of revenue recognized= 60,000/400,000 * 500,000
=0-15 * 500,000
=$75,000
Amount of revenue recognized in year 1 is $75,000
Answer:
departmentalization
Explanation:
Departmentalization is defined as the process of grouping various activities according to departments.
Each department tends to specialise in the assigned activity. This method promotes division of labour where a group of people specialise in one activity.
In the given scenario James is restructuring operations around three product lines to increase speed and effectiveness of decision making.
This is departmentalization with a view of increasing process efficiency
