Answer:
D. usually produces an inefficiently small level of output.
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices is usually set by market forces. There is no need for advertising because all firms produce homogenous products. There is little or no need for government regulation because goods and services are efficiently distributed.
A monopoly is characterised by one firm in the industry. The firm sets the market price. The government regulates the activities of the activities of a monopoly to reduce inefficiency that usually occur. Either quantity produced or price are usually regulated by the government to reduce inefficiency and ensure fair distribution of goods and services.
Monopoly firms usually advertise and undertake more research activities when compared to a pure competition.
I hope my answer helps you
Answer:
d. license
Explanation:
Software license -
It refers to the legal information , that claims for the usage of the particular softwares , is referred to as software license .
Using any software without the proper license , is an illegal practice .
All the software consists of a copyright protection , which disables the people from illegally copying or using the software .
Hence , from the given scenario of the question ,
The correct answer is d. license .
Answer: Profit of charging the optimal block price is 73.5 cent or $0.74.
Explanation:
Given that,
The inverse demand function: P = 25 − 3Q (in cents)
Cost of producing = C(Q) = 1 + 4Q (in cents)
By charging the optimal block price, the firm produce at a point where
Price = Marginal Cost (MC)
MC = 4
Therefore,
25 − 3Q = 4
Q = 7
Consumer Surplus = Profit of charging the optimal block price=0.5 × (y-intercept of the demand curve -MC) × Q
= 0.5(25 - 4) × 7
= 73.5 cent
It is equivalent to $0.74.
Answer: Please see explanation column for answer.
Explanation:
a) Journal to record issuance of Installment notes
Date Account Debit Credit
Jan. 1, 2016 Cash $65,000
Notes payable $65,000
b) Journal to record First annual note payment
Date Account Debit Credit
Jan. 1, 2017 Interest expense $3,900
Notes payable $11, 531
Cash $15,431
