Answer:
1. True
2. False
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
An example of perfect competition is the market for farm produce.
I hope my answer helps you
There are ways to control different situations. The dimensions of situational control Fiedler's contingency theory are leader-member relations, task structure, and position power.
Fiedler's is popularly known for his contingency theory. This theory helps to understand why managers can behave so differently.
The contingency theory states that there no one single leadership style often works for all employees.
He stated also that there are situational-contingent elements that influences a leader's ability to lead.
Learn more about Fiedler's contingency theory from
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Answer:
The answer is: $2,250
Explanation:
The American Opportunity Tax Credit (AOTC) is a tax credit available for students that are enrolled at a qualified educational institution. The maximum annual credit is $2,250 per student, and it can be used during the first four years of higher education.
Answer:
Intensive Distribution
Explanation:
Intensive distribution is a strategy in which producers of convenience products and raw material stock their products in as many outlets as possible.
In this strategy, the producers of convenience products try to provide the product to the consumers where and when they want. In this way, consumers get brand exposure for any product they wish to buy and also it made convenient for them to buy the product. Example of such products are soaps, biscuits etc.
Thus the answer for the question is Intensive Distribution.
Answer:
a. Debit to raw material inventory for $12,750, debit to material price variance $750 and credit to account payable for $13,500.
Explanation:
Date Journal Entry Debit Credit
Raw Material Inventory $12,750
Material Price Variance $750
Accounts Payable $13,500