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Ahat [919]
2 years ago
10

DESCRIPTION OF THE LAW OF DEMAND

Business
1 answer:
slamgirl [31]2 years ago
7 0

Answer:

The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded

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Two identical firms that share a market and produce a homogenous good will find the Bertrand Oligopoly LEAST attractive because
inn [45]

Answer:

The correct answer that fills the gap is: Cartels generate the highest joint profit, they want to avoid a price war that leads to profit erosion and P=MC, a cournot oligopoly will generate more profit than a bertrand oligopoly

Explanation:

In Bertrand's model, consumers will buy the goods of the company that offers the lowest price. From this it can be intuited that the Nash equilibrium will be the one in which both companies set the same price. For this reason it is not attractive, since they are competition and for some of the two it may not be profitable to decrease the sale price of their products.

3 0
3 years ago
In 2021, its first year of operations, Kimble Corp. has a $900,000 net operating loss when the tax rate is 20%. In 2022, Kimble
Helen [10]

Answer and Explanation:

Kimble Corp entries in 2021 to record the tax effects of the loss carryforward

a)Dr Deferred Tax Asset ($900,000 × 20%) 180,000

Cr Benefit Due to Loss Carryforward $180,000

Dr Benefit Due to Loss Carryforward $180,000

Cr Allowance to Reduce Deferred Tax Asset to Expected Realizable Value $180,000

(b)

Dr Income Tax Expense ($250,000 × 20%) $50,000

Cr Deferred Tax Asset $50,000

Dr Allowance to Reduce Deferred Tax Asset to Expected Realizable value $50,000

Cr Benefit Due to Loss Carryforward $50,000

5 0
3 years ago
Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marketing decision that results in a dramatic decrease in prof
Stells [14]

Answer:

As long as Mitch acted in good faith and tried to make the best possible decision regarding all available information, and his decision was something that any other person could have made, his mistake has to be considered a bad or negative business judgement (business judgement rule). He thought that his actions would benefit the corporation, but he was wrong and the corporation lost money. That types of mistakes are considered normal and just that, mistakes that anyone can make.

In regards with the second issue, that Mitch is a shareholder and a director of a firm that will directly compete with Numero Uno, he must inform the board about this and resign to either Numero Uno or One of a Kind.

6 0
3 years ago
Ferguson corp. purchased inventory on account for $20,000. the entry to record this transaction would include?
Marianna [84]

The entry to record this transaction would include:

Dr. Inventory $20,000

Cr. Accounts payable    $20,000

What does it mean to purchase inventory on account?

Purchasing the inventory on account for $20,000 means that Ferguson corp. did not make payment for the inventory immediately, it rather purchased the inventory on credit with a promise to pay later.

As a result, the liability of Ferguson corp. has increased, specifically, the company would credit accounts payable with $20,000 such that inventory, which is the receiving account is debited with the same amount

Find out more about journal entry on:brainly.com/question/11312217

#SPJ1

8 0
2 years ago
A car dealership performs a credit check on a potential customer. according to the credit bureau, the customer's credit score is
Nikitich [7]
A 710 credit score is considered good. People with this credit score are likely to be approved for credit cards and loans with average interest rates and terms.
5 0
3 years ago
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