In San Francisco, there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is option (b) i.e, monopolistically competitive.
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What is monopolistically competitive?</h3>
An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.
Monopolistic competition is characterized by a number of features.
- slight variations in the goods and services,
- Free access to the market and exit
- many businesses
- Profits from incomplete consumer knowledge
Consumer electronics, apparel, restaurants, and hair salons are a few examples of industries with monopolistic competition. Each business delivers goods that are comparable to those of other businesses in the same sector. They can, however, set themselves out through branding and marketing.
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Answer:
D. Evidence of title transfer of goods to customers.
Explanation:
The bill of lading is a legally binding document that provides the carrier and shipper with all of the necessary details to accurately process a shipment. It has three main functions. (1) it is a document of title to the goods described in the bill of lading. (2) it is a receipt for the shipped products. (3) the bill of lading represents the agreed terms and conditions for the transportation of the goods.
Answer:
Range of price elasticity of demand for cigarettes is from (-0.5) to (-0.3).
Explanation:
Percentage increase in price = 10%
Percentage reduction in quantity demanded = 3% to 5%
We are taking percentage change in the quantity demanded is equal to 3% for now.
Initial price elasticity of demand for cigarettes:
= Percentage change in quantity demanded ÷ Percentage change in price
= -3 ÷ 10
= -0.3
Now, we are taking percentage change in the quantity demanded is equal to 5%.
price elasticity of demand cigarettes:
= Percentage change in quantity demanded ÷ Percentage change in price
= -5 ÷ 10
= -0.5
Therefore, the range of price elasticity of demand for cigarettes is from (-0.5) to (-0.3).
Answer:
See below
Explanation:
Computation of Lola's Corp adjusted cash book balance at February 28, 2017
Lola Corp's book balance
$35,900
Add:
Interest earned on checking account
$75
Less:.
Customer's NSF check returned by the the bank
$325
Add:
Error in recording customer's check
($110 - $101)
$9
Adjusted cash balance
$35,659
Therefore, Lola Corp's adjusted cash book balance as at February 28, 2017 is $35,659
