When the price of a commodity is $11, where 1250 units are being bought and sold in a perfectly competitive market, the market price of the commodity will increase from its original price if the market is monopolized.
<h3>What is a perfectly competitive market?</h3>
In a market where there are less to zero restrictions for entry and exit of buyers and sellers in the market dealing in similar commodities, then such a market is known as a perfectly competitive market.
There is no pricing power in the hands of the buyers and sellers in the market, as there is no minimum or maximum limit on the number of sellers in the market, so the supply is not restricted in such a market.
Hence, it can be concluded that market prices are stable in a perfectly competitive market, and it generally increases in a monopolistic market.
Learn more about a perfectly competitive market here:
brainly.com/question/13961518
#SPJ1
Answer:
Option (C) is correct.
Explanation:
EBT means Earnings Before Tax, so you ignore the tax rate for this problem.
Then solve for the EBT figure.
EBT:
= Revenue - Operating costs - Depreciation - interest
= $18,500 - $8,250 - $1,750 - ($9,000 x 7%)
= $18,500 - $8,250 - $1,750 - $630
= $7,870
Therefore, $7,870 was the firm's earnings before taxes (EBT).
Answer:
a. Particulars Amount
Pre-tax income for 2015 $683,500
Less: Income tax expenses <u>$205,050</u> ($683,500*30%)
Net Income for 2015 <u>$478,450</u>
<u />
b. Deferred tax liability = Temporary difference * Tax rate
= $165,500*30%
= $49,650
Income tax expense = Construction in process - Deferred tax liability
= $165,500 - $49,650
= $115,850
Date Account titles and Explanation Debit Credit
2015 Construction in progress $165,500
Deferred tax liability $49,650
Retained earnings $115,850
(To record deferred tax liability and retained earnings for 2015)
Answer:
$44,600
Explanation:
The computation of the balance of the cash account after the transactions are posted is shown below:
Invested cash in shop $41,300
Less: Paid cash for receptionist salary -$2,500
Add: Receive cash from sale of frame $5,800
Balance of the cash account $44,600
We simply added the cash received and deduct the cash paid to the invested amount of cash in a shop so that the correct value could arrive
Answer:
c. the quantity of labor supplied increases and the quantity of labor demanded decreases.
Explanation:
The union successfully increase the price for wages thus, the supply will increase.
Also, because the wages cost in benefit or wages are higher the demand for labor in the industry will be lower the entrepreneur will look at ways to use less people to avoid higher labor cost.