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Harlamova29_29 [7]
2 years ago
13

Monopolistically competitive firms are not productively efficient because output is less than society's optimal level because a

producer's ______. Multiple choice question. marginal revenue per unit is not at its optimal possible price average fixed cost per unit is not at its lowest possible cost average total cost per unit is not at its lowest possible cost average variable cost per unit is not at its optimal possible cost
Business
1 answer:
hoa [83]2 years ago
4 0

Answer:

average total cost per unit is not at its lowest possible cost

Explanation:

A monopolistic competition is defined as such a market where many different firms or companies sells various differentiated products. Here the firm has some control on the price of the product. It is a market structure of considerably no price competition.

The monopolistic firms are not productive enough because the output is very less than the optimum level of the society as the average total cost of the producer per unit is not at the lowest possible cost.

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Which country used a form of the welfare state before countries like the United States?​
madam [21]

The first world welfare superpower was Japan.

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3 years ago
Which of the following is a purpose of a positioning statement?
Ulleksa [173]

The correct anwser is B. its the only one that makes since

7 0
3 years ago
Sep. 3 Purchased merchandise inventory on account from Shallin Wholesalers, $7,000. Terms 1/15, n/EOM, FOB shipping point.
myrzilka [38]

Answer:

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

Cr Merchandise Inventory $60

Cr Cash $5,940

Sep. 12

Dr Cash $5,445

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

Cr Sales Revenue $1,940

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

Explanation:

Preparation of the journal entries

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

[$5,500-(1%*$5,500)]

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

($7,000-$1,000)

Cr Merchandise Inventory $60

(1%*$6,000)

Cr Cash $5,940

($6,000-$60)

Sep. 12

Dr Cash $5,445

[$5,500-(1%*$5,500)]

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

($10,000-$100)

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

($1,940+$55)

Cr Sales Revenue $1,940

[$2,000-(3%*$2,000)]

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

($1,940+$55)

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

5 0
2 years ago
Phoenix Farm, a firm that sells farm products, gathers fresh food products in one place for its customers. Customers can buy egg
natali 33 [55]

Answer:

Retailer

Explanation:

When a producer directly sells the goods to customers, who directly consume the goods rather than further sale, then the producer or seller is termed as retailer.

Goods on retail simply means sales for direct consumption.

Here, Phoenix Farms produces fresh food products which are directly consumables and are sold directly rather than involving intermediaries thus, he is a <u>retailer</u>.

5 0
3 years ago
General Snacks is a typical firm in a market characterized by the model of monopolistic competition. Initially, the market is in
Harrizon [31]

Answer:

Firms will leave the market in the long run.

Explanation:

Firms will leave the market in the long run.

Generally, the new firms enters in the market because the incumbent firms makes super normal profit. So in the long run, the continuous entry of firms will make the profit zero. Thus, when there is zero profit in the long run then the firms will start leaving the market and the demand for remaining firms will start rising because when firms start leaving the market then supply falls.

7 0
2 years ago
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