Toby operates a small deli downtown. The deli industry is monopolistically competitive. Toby, along with every other deli in town, is producing the quantity that minimizes average total cost. Assuming the delis are maximizing profits, the: Group of answer choices delis' prices equal their average total costs. number of delis will eventually increase. number of delis will eventually decrease. delis have excess capacity.

Answers

Answer 1

Answer:

number of delis will eventually increase.

Explanation:

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

An example of monopolistic competition are restaurants  

When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero

If firms are earning negative economic profit, in the long run, firms leave the industry.  This drives economic profit to zero

in the long run, only normal profit is earned

The deli industry in the town is still earning economic profit because it is producing the quantity that minimizes average total cost. Therefore, in the long run, more firms would enter in the industry.


Related Questions

Carter Production, Inc.'s required production for the first six month of the year is as follows. Month Required Production January 50,000 February 70,000 March 85,000 April 105,000 May 110,000 June 120,000 Each unit requires two pounds of material. Given a desired ending inventory of 20% of next month's production needs, the pounds of material to be purchased in April is: Multiple choice question.

Answers

Answer:

212,000 pounds

Explanation:

Calculation to determine what the pounds of material to be purchased in April is

Beginning inventory 210,000

(105,000 x 2)

Add Ending inventory 44,000

(20% of May production needs

( 110,000 x 2 x 20%)

Less Beginning Inventory 42,000

(20% of April)

April pounds of material to be purchased 212,000 pounds

(210,000+44,000-42,000)

Therefore the pounds of material to be purchased in April is 212,000 pounds

When increasing production from 12,000 computers to 15,000 ​computers, the​ company's average cost of production will A. increase from ​$10.10 to ​$10.40 due to the​ learning-curve effect. B. increase from ​$16.80 to ​$18.90 due to the​ learning-curve effect. C. decrease from ​$10.40 to ​$10.10 due to diseconomies of scale. D. decrease from ​$10.40 to ​$10.10 due to the​ learning-curve effect. E. increase from ​$16.80 to ​$18.90 due to economies of scale.

Answers

Answer:

When increasing production from 12,000 computers to 15,000 computers, the company's average cost of production will

D. decrease from $10.40 to $10.10 due to the learning-curve effect.

Explanation:

The learning-curve effect describes the learning-curve theory.  This theory states that there is an improved performance of workers who are producing computers over time.  The whole idea behind this theory is that the more workers produce computers, the better they will get at its production.  In turn, this improved production performance will, in the long run, translate to both lower cost and higher output for the organization.

For the year ended December 31, 2021, Norstar Industries reported net income of $965,000. At January 1, 2021, the company had 1,070,000 common shares outstanding. The following changes in the number of shares occurred during 2021: Apr. 30 Sold 85,000 shares in a public offering.May 24 Declared and distributed a 5% stock dividend.June 1 Issued 96,000 shares as part of the consideration for the purchase of assets from a subsidiary.Required:Compute Norstar's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Round "EPS" answer to 2 decimal places. Do not round intermediate calculations.) Numerator = ? Denominator = ?Earnings per share = ?

Answers

Answer:

0.78

Explanation:

The computation of the earning per share is given below;

= $965,000 ÷ 1,239,000

= 0.78

The 1,239,000 comes from

= 1,070,000 × 12 ÷ 12 + 85000 × 8 ÷ 12 + 96,000 × 7 ÷ 12 + (1,070,000 + 56,667) × 5%

= 1,070,000 + 56,667 + 56,000 + 56,333

= 1,239,000

Assume that transportation costs are especially high for Widgets in the two-country, two-product Ricardian model, and Country A enjoys a comparative advantage in Widgets, then A) country B must also enjoy a comparative advantage in Widgets. B) country B may end up exporting Widgets. C) country A may switch to having a comparative advantage in the other good. D) country A will still export Widgets. E) trade may be impossible between the two countries.

Answers

Answer:

D

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries. A country would export the good for which it has a comparative advantage and import the good for which it doesn't have a comparative advantage

For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.  

for country A,  

opportunity cost of producing beans = 5/10 = 0.5

opportunity cost of producing rice = 10/5 = 2

for country B,  

opportunity cost of producing rice = 5/10 = 0.5

opportunity cost of producing beans = 10/5 = 2

Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice

Country A would export beans to country B and B would export rice to A

Fiscal policy refers to the ________using_________
to affect the economy.

Congress and the president, taxes and spending
Forte

The Federal Reserve, taxes and spending

The Federal Reserve, interest rates

Congress and the president, interest rates

The Federal Reserve, the money supply

Answers

Answer:

Congress and the president, taxes and spending.

Explanation:

Fiscal policy refers to the Congress and the president using taxes and spending to affect the economy.

Fiscal policy in economics refers to the use of government (Congress and the president) expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.

Generally, a fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.

A normal cost system applies overhead to jobs ________. multiple choice by multiplying a predetermined overhead rate by the estimated amount of the allocation base incurred by the job by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job using the actual amount of overhead caused by each job using the normal amount of overhead caused by each job

Answers

Answer:

A normal cost system applies overhead to jobs ________.

by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job.

Explanation:

To compute the predetermined overhead rate, divide the estimated overhead for the period by the estimated allocation base usage.  When applying overhead to the job, the predetermined overhead rate is used to multiply the actual amount of the allocation base consumed or incurred by the particular job.  The value determined from the above computation is termed the overhead applied cost.  It may be more or less than actual overhead incurred.  This gives rise to overapplied or underapplied overhead.

¿Qué es la Biblia y qué significa?

Answers

The Bible is a religious text used by all Christians because it is supposed to be the word of god handed down by Abraham and Moses and in the second testimony (part, which jews don’t believe) it is written primarily by Jesus’ disciples. It matters because it is suppose to be what values the most to believers of Jesus and/or God.

Respuesta:

Biblia significa: conjunto de libros canónicos que en el judaísmo y el cristianismo se consideran producto de inspiración divina y un reflejo o registro de la relación entre Dios y la humanidad.

One advantage of having a bank savings account is that it
O is a reliable way to earn interest while establishing a personal financial history.
guarantees depositors interest-free loans.
eliminates having to pay bank charges or late fees on other accounts at the bank.
offers depositors a higher interest rate on United States government savings bonds.

Answers

Answer: is a reliable way to earn interest while establishing a personal financial history.

Explanation:

A savings account refers to an interest-bearing deposit account which is held at a bank. The reliability and safety of the savings account makes it a great option when one needs cash to meet the short-term needs.

An advantage of having a bank savings account is that it is a reliable way to earn interest while establishing a personal financial history.

It enables one to establish a personal financial history as it shows ones financial records such as the bank statements, receipts, loans, mortgages etc.

Therefore, the correct option is A.

Format wars, in the context of high-technology industries, refer to: a. battles to control the source of differentiation, and thus the value that such differentiation can create for the customer. b. the confusion among customers that arises as a result of several choices of formats for PCs and other gadgets. c. the price-based battles in the network of complementary products, which is a primary determinant of the demand for an industry's product. d. conflicts within an organization about which format to adopt for their products. e. price-based battles among companies producing similar products.

Answers

Answer:

Battles to control the source of differentiation, and thus the value that such differentiation can create for the customer

Explanation:

Technical standards

This is simply refered to as a group of distinction or specifications that producers conforms or simply follows when making a particular product, or a component of it.

Format

This is simply known as set of rules through which technology operates. It is stated that all technology have constraints, that is standards and advantage(pro's)/disadvantage(con's).

Format wars

This are fights to have access or control the source of change (differentiation) and the value that such change can bring for the customer

Dominant design

This is simply known as common set of features or design characteristics of a product.

Technology in industries is changing or revolutionizing aspects of the product even in those not usually considered high- tech

Which of the following is NOT true about stocks?

they are shares of ownership of company

All of these

you can buy them in a secondary market
owning only shares of a single stock increases risk

they are guaranteed to hold their value over time

Answers

Answer:

they are guaranteed to hold their value over time.

Explanation:

A stock is also referred to as equity and it can be defined as a security that represents a stockholder's ownership of a fraction of a corporation.

Corporations can be sold to investors through stocks or shares, as a public entity. Thus, a company that engages in the sales of ownership shares to many investors is referred to as a corporation.

The book value per share of stock can be defined as a measure of the total amount of value associated with a net asset that an investor is entitled to when he or she buys a share of stock.

Hence, the book value per share of stock is a ratio of the equity gotten by an investor to the amount of outstanding shares.

The true statements about stocks include the following;

I. A stock can be purchased or bought in a secondary market.

II. Owning only shares of a single stock increases risk because you can loose everything when the company or corporation is negatively affected by a disaster.

III. Stocks are shares of ownership of company.

However, just like every other securities, stocks aren't guaranteed to hold their value over time.

what are the main roles of the management department in an organization. give 5

Answers

Answer:

At the most fundamental level, management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These five functions are part of a body of practices and theories on how to be a successful manager.

hope it helps

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Over time, 3M has relied on the results-only-work-environment (ROWE) framework and has morphed into a highly science-driven innovation company. At 3M, employees are encouraged to spend 15 percent of their time on projects of their own choosing. If any of these projects look promising, 3M provides financing through an internal venture-capital fund and other resources to further develop their commercial potential. This real-world scenario best illustrates

Answers

Answer: output controls.

Explanation:

The real-world scenario best illustrates output controls. Output control refers to the technique that is used in analysing the output that is provided by a firm.

Output control focuses on the measurable results that are within an organization. Since the company encourages its employees to spend 15 percent of their time on projects of their own choosing and the ones who looks promising are financed to develop their commercial potential, this refers to output controls.

Sandy's Soda Co. is planning to purchase new equipment that costs $56,000 and will save on operating costs for the next 5 years as follows: $21,500 in year 1; $23,100 in year 2; $19,000 in year 3; $13,900 in year 4; and $15,200 in year 5. The payback period for the cooling equipment is ______ years.

Answers

Answer:

It will take 2.6 years to cover the initial investment.

Explanation:

Giving the following information:

Initial investment= $56,000

Cash flows:

Cf1= $21,500

Cf2= 23,100

Cf3= $19,000

The payback period is the time required to cover the initial investment.

Year 1= 21,500 - 56,000= -34,500

Year 2= 23,100 - 34,500= -11,400

Year 3= 19,000 - 11,400= $7,600

To be more accurate:

(11,400/19,000)= 0.6

It will take 2.6 years to cover the initial investment.

The payback period is the time interval or the time taken by the business to recoup its investment amount and earn profits after the determined payback period. It is the measurement tool used by the investors and financial experts to know the investment returns.

The payback period for the cooling equipment is 2.6 years.

Computation:

Given:

Initial investment= $56,000

Cash flows of 5 years.

The payback period schedule is attached in the image below.

[tex]\text{Payback period}=\text{Year of payback}+\dfrac{\text{Final amount}}{\text{Cash flow of next year}}\\\\=2\;\text{years}+\dfrac{\$11,400}{\$19,000}\\\\=2.06\;\text{years}[/tex]

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Which situation best illustrates an effect of globalization?
A. A chef from China opens traditional Chinese restaurants in
Europe.
B. A politician from Australia promises to lower taxes for all citizens.
C. A pilot from the United States flies passengers all around the
country
D. A butcher in Tanzania only accepts meat raised on local ranches.

Answers

Answer:

a

Explanation:

the chinese restaurant may offer traditional food where people in Europe might enjoy food with chopstick

Shortly after the foreclosure sale, the man received a substantial inheritance. He approached the bank to repurchase the property, but the bank decided to build a branch office on the property and declined to sell. If the man prevails in an appropriate action to recover title to the property, what is the most likely reason

Answers

Answer:

statutory right of redemption

Explanation:

Statutory right of redemption is a certain amount of time given by states to previous mortgagors allowing them to raise the money to pay off the debts of their property and cancelling the mortgage. This allows the prior owner (mortgagor) to recover his/her property even after a foreclosure has been carried out. The time is set by the state and varies depending on the state. Some states do not allow this.

A broker has an exclusive right-to-sell listing on a building. An offer to purchase the building is received while the owner is out of town. The offer requires a commitment from the seller before the seller is scheduled to return to the city. Under these circumstances, the

Answers

Answer:

Broker must obtain the signature of the seller to effect a contract.

Mohammad was an employee in the new product development department of Estay Inc. Mohammad was directly involved in the development of a new product that Estay intended to launch in 6 months. Estay took great care to keep information concerning the new product a secret. Ceries, Inc., a competitor of Estay, persuaded Mohammad to leave Estay to direct Ceries' marketing department. Which statement is correct

Answers

I do not see options?

Select all the correct answers. Which two research options are examples of secondary sources? Select all the correct answers.

Answers

Answer:

Research studies, Case studies, Books, Information from organization's database.

Explanation:

The secondary sources are defined as the sources that is used to describe or summarize or discuss the information and the details which is originally presented in the other sources. It provides a good overview of the topic or the subject that we are studying or doing a research.

Some of the secondary researches during a research process are :

Research studies, Case studies, Books, Information from organization's database.

Ben set up an elaborate scheme to mine gold in the Rockies. He had a large town meeting and sold stock in his company for only $5 per share. He showed pictures of the mine and said the company expected to gross $100 million each month. As it turns out, he was a terrific con artist who had made several successful proposals such as this in towns across America in the last couple of years. He is MOST likely suffering from:

Answers

Answer:

antisocial personality disorder.

Explanation:

Antisocial personality disorder is also known as the sociopathy that represent the mental disorder where the person shows that there is no regard for the right and wrong in a consistent way and at the same time it ignored the feelings of others. In this, they manipulate or treat others in a harsh way also they is no guilty felt in this type of order

So as per the given situation, he is most suffering from antisocial personality disorder.

The Learner Company uses the weighted average method. Learner's beginning work in process consists of 6,600 units (100% complete with respect to materials and 60% complete with respect to conversion costs). The number of units completed during the period is 126,000. The ending work in process consists of 10,500 units (100% complete with respect to materials and 30% complete with respect to conversion costs). What are the equivalent units of production with respect to conversion costs

Answers

Answer: 129150

Explanation:

Based on the information given in the question, the equivalent units of production with respect to conversion cost will be calculated thus:

Equivalent Units = Units Completed + Units in EWIP × Fraction of conversion cost

= 126,000 + (10,500 × 0.30)

= 126,000 + 3150

= 129,150 units

Therefore, the equivalent units of production with respect to conversion costs is 129150 units

Sheffield Corporation retires its $980000 face value bonds at 104 on January 1, following the payment of annual interest. The carrying value of the bonds at the redemption date is $1016701. The entry to record the redemption will include a debit of $39200 to Premium on Bonds Payable. credit of $2499 to Loss on Bond Redemption. debit of $2499 to Loss on Bond Redemption. credit of $39240 to Premium on Bonds Payable.

Answers

Answer:

credit of $36,701 to Discount on Bonds Payable

Explanation:

Dr Bonds payable $980,000

Dr Loss on bond redemption $2,499

[$1,016,701-($980,000 x 104%)

Cr Discount on bonds payable $36,701

($1,019,200-$980,000-$2,499)

Cr Cash $1,019,200

($980,000 x 104%)

The entry to record the redemption will include

a credit of $36,701 to Discount on Bonds Payable

What is a good reason to contribute to a 401(k) retirement account?
It helps employees pay monthly expenses.
It guarantees the same salary after age 70.
The money in the 401(k) account doubles each year.
The money in the 401(k) account is not taxed until withdrawn.

Answers

Answer:

The money in the 401(k) account is not taxed until withdrawn.

Explanation:

A 401 (k) can be defined as a type of compensation (savings) plan that is being sponsored by a business firm or company (employer) to avail its employees the opportunity to contribute into. As a company-sponsored and defined-contribution retirement savings plan, it offers tax advantages to the employees because it reduces their income tax for the particular year while taxing their withdrawals.

A good reason to contribute to a 401 (k) retirement account is that, the money in the 401 (k) account is not taxed until withdrawn. Thus, the money contributed by an employee to a 401 (k) will maintain its tax-deferred status until  he or she withdraws it.

For example, a 401 (k) would be the best retirement savings option for a 50-year old medical doctor whose employer offers a 5% contribution match.

Johnson- Schmitt gave several dogs to Dispenza to find good homes for them. Dispenza did not find good homes for them, but rather kept them on his property in such deplorable conditions that they were eventually seized by the sheriff, turned over to the local SPCA, and adopted out to other families. Johnson- Schmitt later sued the county claiming unlawful conversion of her property( the dogs). Did Johnson- Schmitt have any property right in the dogs at the time they were seized?

Answers

Answer:

John-Schmitt had property right in the dogs at the time they were seized.

She had the right to dispose of her private property (dogs) and also to delegate Dispenza to dispose of her property (dogs).  She was still in this right of disposition to her property before they were seized.  Therefore, she could sue the country (right to property right enforcement) for unlawful conversion of her dogs.

Explanation:

The right of disposition or transferability is one of the property rights, including the right of possession, the right of control, the right of exclusion, the right of enforcement, and the right to derive income from the property.  The right of transferability means that property rights should be transferable from one owner to another in a voluntary exchange.  She can enforce her property rights.

Eloise, a medical equipment sales rep, purchases a quick snack to eat on the way to work. She buys lunch while on the road visiting customers, and grabs bread and milk on the way home when she stops to buy gas. Eloise probably does the majority of this shopping at a

Answers

Answer:

convenience store

Explanation:

A convenience store is a retail store that usually sells a large range of everyday items to customers.

The amounts of these products are usually in small amounts (not wholesale).

Items sold could include drinks, coffee, snacks, over the counter drugs, milk, bread, and so on.

In the given scenario Eloise purchases a quick snack, lunch, bread,, milk, and gas during the day.

She is most likely making purchases from a convenience store

a woman sells her home for $450 000. she had purchased it for $300 000 and has lived there for 3 years. how much will she owe to IRS due to the gain on the sale?

Answers

Answer: $0

Explanation:

As a single homeowner, you are allowed to sell your house and get a $250,000 exemption on capital gains tax so long as you had stayed in the house for 2 years or more out of the last 5 years.

The woman in question has stayed in her home for 3 years when she sold it so she qualifies for the exemption.

Her capital gain is:

= Selling price - cost price

= 450,000 - 300,000

= $150,000

This is less than the exemption of $250,000 so the woman will be totally exempted from capital gains tax.

No amount will be gained by the woman

The amount that every house owner is exempted to gain is $250,000

The woman sold her house for $450,000

She purchased the house for $300,000

The gain can be calculated as follows;

$450,000-$300,000

= $150,000

This amount is less than $250,000 hence there is no gain

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A property owner owned a tract of land that he leased to a baker for 27 years. The baker built a large bakery on the property. The baker then sold the bakery building to a buyer, assigning the lease with the property owner's approval. The buyer has failed to make a rent payment for several months and has also failed to build the cafe that the baker had agreed to build in the original lease. Who can the landlord of the property hold liable

Answers

Answer: The Baker

Explanation:

Payment is a form of contract and until payment has been done with papers signed it is not yet an agreement or a contract. The baker is still liable for anything that has to do with the land, the buyer has not paid any money and is not responsible. The landlord would hold the baker accountable, while the baker has to keep in touch with the buyer to know his interest in the property but till then, the baker is to be held accountable.

PLS HELPPP!!! FASTTT!!! A firm has three different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the end of two years, and $10 million at the end of three years. Option B will give the firm $15 million at the end of one year, $10 million at the end of two years, and $5 million at the end of three years. Option C will give the firm $30 million at the end of one year, and nothing thereafter. Which of these options has the highest present value?

a. Option A
b. Option B
c. Option C
d. The answer depends on the rate of interest, which is not specified here.

Answers

Answer:

i would say d

Explanation:

A business operated at 100% of capacity during its first month, with the following results: Sales (109 units) $490,500 Production costs (136 units): Direct materials $66,157 Direct labor 16,891 Variable factory overhead 29,560 Fixed factory overhead 28,152 140,760 Operating expenses: Variable operating expenses $5,601 Fixed operating expenses 3,325 8,926 The amount of gross profit that would be reported on the absorption costing income statement is

Answers

Answer:

$377,685

Explanation:

Calculation to determine what The amount of gross profit that would be reported on the absorption costing income statement is

Particulars Amount

Sales $490,500

Less: Cost of goods sold ($112,815)

($140,760*109 units/136 units)

Gross profit $377,685

($490,500-$112,815)

Therefore The amount of gross profit that would be reported on the absorption costing income statement is $377,685

What is price index number?​

Answers

Answer:

Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.

Explanation:

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services. Thus, it refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered.

Generally, the price a consumer (buyer) would pay for goods and services are primarily being set by the seller or service provider.

In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.

Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.

Hence, it's a statistical value (number) that is typically used for expressing the price change of goods and services as a percentage of prices in a base year.

On a related note, the consumer price index (CPI) is a measure used to analyze and examine the weighted average or aggregate of prices of a basket of goods and services paid for by consumers such as medical, food, and transportation.


What is the primary difference between common and preferred stockholders?
A. Common stockholders have a higher claim on the business.
B. Preferred stockholders are the only ones who can vote for the
board of directors.
C. Common stockholders are required to be employees of the
business.
D. Preferred stockholders have greater security.
SUBMIT

Answers

Answer:

D

Explanation:

Preferred stock holders have greater security.because in the event of the business failure,they have the first claim in the distribution of company assets.

I hope this helps

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