Answer:
1. Faces a downward-sloping demand curve
- BOTH MONOPOLIES AND MONOPOLISTICALLY COMPETITIVE FIRMS HAVE A DOWNWARD SLOPING DEMAND CURVE
2. Has marginal revenue less than price
3. Faces the entry of new firms selling similar products
- NEITHER, SINCE MONOPOLISTICALLY COMPETITIVE FIRMS OFFER DIFFERENTIATED PRODUCTS, NEW COMPETITORS WILL NOT OFFER SIMILAR PRODUCTS. MONOPOLIES HAVE THE ADVANTAGE OF BARRIER ENTRIES THAT PREVENT NEW FIRMS FORM ENTERING THE MARKET.
4. Earns economic profit in the long run
- ONLY MONOPOLIES, BECAUSE MARKET BARRIERS PREVENT NEW FIRMS FROM ENTERING THE MARKET.
5. Equates marginal revenue and marginal cost
- BOTH MONOPOLIES AND MONOPOLISTICALLY COMPETITIVE FIRMS MAXIMIZE ACCOUNTING PROFITS AT THIS POINT
6. Produces the socially efficient quantity of output
THE ANSWER TO THIS QUESTION IS JOE HAS A HIGHER ONE
Answer:
Menu Costs
Explanation:
From the question we are informed about Gilberto who manages a grocery store in a country experiencing a high rate of inflation. To keep up with inflation, he spends a lot of time every day updating the prices, printing new price tags, and sending out newspaper inserts advertising the new prices. His employees regularly deal with customer annoyance over the frequent price changes. This case is an example of the of Menu Costs inflation.
In domain of economics, menu cost can be regarded as the cost to a firm that results due to changing its prices. When there is high inflation, firms needs to often make a change to their prices ,so they can keep up with economy-wide changes. The name arised out of the cost of a printing new menus of a restaurants , but it is used by economists when they are generally referring to the costs of changing nominal prices
.
Answer:
The answer is D) will raise disposable income and raise spending
Explanation:
When taxes are cut disposable income increases as there is less income used to pay taxes. If there is a higher amount of disposable income available then spending will increase as well as spending appetite.
Cutting taxes is a easy way to stimulate spending in an economy.
The correct answer is therefore D) will raise disposable income and raise spending.
Cutting taxes can also increase aggregate demand which can lead to higher economic growth as well.
Answer: a. FIFO to LIFO, but not LIFO to FIFO
Explanation:
Well the inventory changes which would likely be accounted for is the FIFO ( first in first out system ) to LIFO ( last in first out system ). But not the LIFO ( last in first out ) to FIFO ( first in first out ). This system are mostly used in sales where for FIFO the first goods to arrive leaves first and for LIFO the opposite of FIFO
