The cereal industry is an example of what type of competitive market? An oligopoly. A oligopoly is a competitive market structure where there is a limited amount of market shared by a small amount of competitors. There are few cereal products that produce many different types of cereal flavors.
If employees pay the same percent of their income to the government no matter how much they make, this is known as "flat taxation." Flat taxation is mainly applied when a person would like too know the corporate income. Corporate income is the amount of money a business would have to pay. It's like taxes to a person but to a business all prime business member's would have to pay it or their business would be shut down. Taxes work like this: the more a person makes in a year, the more that person would have to pay back. The increase of income a person make would have to pay it back and then the taxes would go to the government and then the government would use that money for roads, public schools, police and fire stations, all daily services.
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When a firm prepares financial reports by using absorption costing, <span>profits may decrease with increased sales even if there is no change in selling prices and costs. When you absorb costs that means all of the manufacturing costs are absurd by the units produced. The final cost of the inventory will include direct matters, labor and both variable and fixed overhead to product the units. </span>
Answer: D. None of the statements is true.
Explanation:
When multiple residences are owned, tax laws indicate that itemized deductions for interest paid on mortgages are limited to the mortgages of 2 residences alone being the primary residence and any other residence that will be chosen as the second residence in the tax year.
As such, all the options are wrong as they would be limited to itemized deductions on mortgage interest for;
= $290,000 + $400,000
= $690,000 being the first 2 residences
Answer:
The correct answer is option d.
Explanation:
The firms in a perfectly competitive market are price takers. The price taker firms do not determine their product prices. The price of a product is determined through the market forces by the equalisation of demand and supply.
The firms face a horizontal line demand curve at the level of market price.
There are large number of sellers selling identical products in the market, so if a firm increases its price, the buyers will go somewhere else where the price is lower.
