Answer:
c. firms are free to enter and exit the market.
Explanation:
A monopolistically competitive market is a market in which there are a lot of organizations that sell products that are similar and it tends to be easy to enter and leave the industry. Because it is easy for a company to enter the market and there is a lot of competition, in the long run the economic profit is zero. According to this, the answer is that in the long run, profits in a monopolistically competitive market are zero because firms are free to enter and exit the market.
The other options are not right because a monopolistically competitive market has zero profits because of its low entry barriers and amount of competitors not because of government regulations or an illegal agreement between organizations to control competition. Also, in a monopolistically competitive market the products are similar.
Answer:
a. inelastic
Explanation:
<em>As you can see in the image I added, the curve that is close to a vertical is the inelastic one.</em> Inelastic means that the demand remains the same even if the prices go up or down.
I hope you find this information useful and interesting! Good luck!
He did maximize the utility <span>according to the utility maximization rule</span>.
Answer:
Flora Wholesalers:
The accounts of Flora Wholesalers that will have the same balance at the beginning of next year as they do presently on the adjusted trial balance are:
Assets:
Cash $4,200
Accounts receivable $300
Liabilities and Equity:
Accounts payable $1,100
H. Jones, Capital $4,400
Explanation:
a) Data and Analysis:
Adjusted Trial Balance
Account Debit Balance Credit Balance
Cash $4,200
Accounts receivable $300
Accounts payable $1,100
H. Jones, Capital $4,400
H. Jones, Drawing $900
Fees revenue $13,200
Advertising expense $8,100
Travel expense $4,200
Shipping expense $300
Computer
software expense $400
Assets:
Cash $4,200
Accounts receivable $300
Liabilities and Equity:
Accounts payable $1,100
H. Jones, Capital $4,400
b) The above assets, liabilities, and equity accounts will have the same balances at the beginning of next year as they do presently on the adjusted trial balance. They are called permanent accounts. Only the temporary accounts do change their balances from the adjusted trial balances to the opening balances. The only other account that is not included above is the Retained Earnings. This account is adjusted with the differences in the temporary accounts.
Answer:
B. The primary advantage to municipal bonds is that interest income received is not taxed by the federal government.
Explanation:
A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.
A municipal bond can be defined as a type of bond that is typically issued by a municipality, county, local government or state in order to finance or sponsor capital expenditures for the public such as water supply, construction of roads, etc.
Hence, the primary advantage to municipal bonds is that interest income received on this type of bond is not taxed by the federal government.
