Monopoly (mp) and perfect competition (pc) are the two completely opposite market structures. the market structures that fall between these two extremes are generally called <u>imperfectly competitive markets</u>.
Imperfect competition is a competitive market state of affairs where there are many dealers, however they may be selling heterogeneous (diverse) items instead of the correct aggressive marketplace state of affairs. as the name indicates, competitive markets are imperfect in nature.
Imperfect opposition regularly exists because of extremely excessive obstacles to entry for new suppliers. As an example, the airline industry has high barriers to entry due to the extraordinarily high cost of aircraft.
Imperfect markets are characterized by means of having competition for marketplace share, excessive boundaries to access and go out, exceptional products and services, and a small wide variety of customers and sellers. best markets are theoretical and can't exist inside the actual international; all real-world markets are imperfect markets.
Learn more about Imperfect competition here: brainly.com/question/15313750
#SPJ4
Answer:
Average inventory= $41,750
Explanation:
Giving the following information:
Beginning Inventory= $37,200
Ending Inventory= $46,300
<u>To calculate the average inventory, we need to use the following formula:</u>
Average inventory= (beginning inventory + ending inventory) / 2
Average inventory= (37,200 + 46,300) / 2
Average inventory= $41,750
Higher than 4.0 if it's weighted
Answer:
units started less 200.
Explanation:
Unit at which the process is started on the beginning of January minus the closing inventory is the number of completed units in work in process when there is No beginning Work in process.
Using following formula we will calculate the Units completed in WIP.
Work in process Closing Inventory = Opening WIP + Addition during the period - Completion during the period
200 units = $0 + Addition during the period - Completion during the period
Completion during the period = Addition during the period - $200 units
In the absence of Beginning Inventory the the addition during the period is the number of unit at which the process is started.
Answer:
$60 per unit
Explanation:
Total overheads:
= Overheads of fabrication department + Overheads of assembly department
= $90,500 + $109,700
= $200,200
Total labor hours:
= Blinks + Dinks
= (1,013 × 4) + (1,859 × 5)
= 4,052 + 9,295
= 13,347
Overhead rate per hour = Total overheads ÷ Total labor hours
= $200,200 ÷ 13,347
= $15 per hour
Total overhead cost for blinks:
= Total hours for blinks × rate per hour
= 4,052 × $15 per hour
= $60,780
Overhead cost per unit for Blinks:
= Total overhead cost for blinks ÷ Total units
= $60,780 ÷ 1,013
= $60 per unit
