Answer:
D) control the desired price and output to maximize profits, but a perfectly competitive firm can only choose the desired output.
Explanation:
Firms competing in perfectly competitive markets are price takers, meaning that they cannot set the price of their products or services, but monopolists can actually set the price of their products or services because their market power is high enough to do so. Also, a monopolist can choose to lower or increase its output depending on the resulting profits.
This excessive market power is the reason why natural monopolies are usually regulated by the governments and many monopolistic firms are forced to split into smaller firms that compete against each other.
Answer:
The explanation and solution of this question is given below in explanation section.
Explanation:
The correct option of this question is :
The broker’s escrow trust account.
This method mostly used in freelancing. Upwork is one of the freelancing websites. It uses escrow trust account where potential buyer deposit the down payment and this deposit payment will be released to a potential client as he completes the contract with the buyer.
Why other options are not correct.
The amount does not directly deposited in the seller's bank account. because it is chances that the seller either will not work or complete the work and take the money away.
A salesperson bank account is also an incorrect option.
Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a controllable variance. Therefore, the option B holds true.
<h3>What is the significance of controllable variance?</h3>
Controllable variance can be referred to or considered as a variance that computes the difference between the actual quantity and the budgeted quantity sold or consumed by a firm in an economy. It can never be deficit, and is always in surplus of the budgeted amounts.
Therefore, the option B holds true and states regarding the significance of controllable variance.
Learn more about controllable variance here:
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The question seems to be incomplete. It has been added below for better reference.
Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a:
a. quantity variance
b. controllable variance
c. volume variance
d. rate variance
The answer is: b. Markets motivate individual actors to make economic decisions.
In a capitalist economy, the government has very little influence to intervene in the economy. The market is solely controlled by the power of supply and demand. When a lot of people demanded a certain type of products, people who will gain the most profit would be those who are bale to make economic decisions to fulfill the demand in the market.
