Answer:
number of delis will eventually increase.
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
The deli industry in the town is still earning economic profit because it is producing the quantity that minimizes average total cost. Therefore, in the long run, more firms would enter in the industry.
Answer:
$14,611
Explanation:
The computation of the the total manufacturing cost is shown below:
= Direct material used + direct labor cost + manufacturing overhead cost
where,
Direct material used = $7,100
Direct labor cost = 181 direct labor hours × $27 = $4,887
And, the manufacturing overhead cost = 82 machine hours × $32 = $2,624
So, the total manufacturing cost is
= $7,100 + 4,887 + $2,624
= $14,611
Answer:
Explanation:
The journal entry to record the expenditure account is shown below:
Postage A/c Dr $100
Business lunches A/c Dr $150
Delivery fees A/c Dr $75
Office supplies /c Dr $25
To Petty cash A/c $350
(Being expenditure is recorded)
So, the debit petty cash account would not be considered as it is credited while passing the journal entry.
A negative externality or spillover cost occurs when
the total cost of producing a good exceeds the costs borne by the producer.
Answer:
Constraints
Explanation:
Constraints is a restriction to decision making.
Direct protect insurance are faced with constraints in their decision making process of introducing their new product, so they are looking for means of overcoming the constraints.
Directprotect insurance provider is facing a constraint in the introduction of it's new product in the market. Direct protect faces the problem of prediction of how successful the new product will be when introduced.
The constraint is the bottleneck to the introduction of their new product in the market.
After a research have been carried out, Direct protect analyzed the responses obtained in order to determine if customers in different countries are different from each other. The results of the analysis will help in making appropriate decision in overcoming their constraints and satisfy customers from different countries with different needs.
The new product can be introduced when the constraints have been overcomes.
