Question 1. 1. A firm in a monopolistically competitive industry faces a downward-sloping
demand curve because (Points : 1)
the product is homogeneous.
the product is differentiated.
nonprice competition is missing.
barriers to entry are high.
The interactions of producers and consumers in individual markets are part of the study of
Ceteris paribus, as applied in demand theory, mea
Economic profit is defined as
total sales (explicit costs + implicit costs).
total sales explicit costs implicit costs.
total explicit costs.
total monetary costs.
total implicit costs.
Technical efficiency is
using the least-cost me
Running Head: Structured Market
Structured Market Decisions
ECO 204 Principles of Microeconomics
August 14th, 2017
Economics is not simply a topic on which to express opinions or vent emotions. It is a
Lab 2 Water Quality and Contamination
Experiment 1: Effects of Groundwater Contamination
Table 1: Water Observations (Smell, Color, Etc.)
Clear water, no smell or particles
Oily smell, oily residue, clear in color
Clear in color,
The domain is when all the numbers in the rational expressions do not cause the denominator to equal
0. Therefore it cannot be zero, because nothing can be divided by zero and still remain a real number.
The domain of an expression will be real numbers ex
Ashford University ACC205
LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT
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YELLOW INDICATES ACCOUNT AMOUNTS CHAN
Based Upon Cou
Ch 1 - Ex 2
LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT
Ch 7 Ex 2
a. Compute Halls accrued interest as of
December 31, 20X1.
YOUR ANSWERS BASED UPON COURSE
The purpose of a bank reconciliation is to compare the bank records against business or
personal records. For example, each month I get a bank statement from my bank concerning
about checking account and compare it against the register I have kept for the
FIFO and LIFO are two budget course rule book for inventory. FIFO
stands for First-in, First-out approach, while LIFO is Last-in, First-out.
FIFO for following the stock that came in first and is first out to be the
position for sale or LIFO for tracking
The accounting cycle is the process of recording and processing the accounting events of a
company. The steps begin when a transaction takes place and ends with the operation has been
completed within in the financial statements. Financial accounts are a
According to our text externalities are cost or benefits of consumption or production that are not
incurred by the consumer or producer, and are therefore not reflected in market prices.
(Amacher & Pate, 2013). In other words an externality is a side effe
Barriers to Entry and Exit
According to Amacher & Pate (2013) Barriers to entry play a key role in determining market coordination
because they are related to the number of firms. In the airline industry which is defined as being an
oligopoly market struc
According to Amacher & Pate (2012) elasticity measures the way a variable responds to
variations in other variables, in other words elasticity is how responsive a variable is to another.
The elasticity of demand measures the responsiveness of demand to a
Who gains and who loses from a tariff?
According to Amacher & Pate (2013) a tariff is a tax on an imported good or service. A tariff drives the
price of good or services up; therefore, consumers buy less. Domestic producers, owners, workers and
The circular flow diagram is a representation that relates the relationships between different
resource markets where income is earned and product market where income is spent to purchase
good and services (Amacher, 2013). The circular flow diagram is bas
As is stated by Amacher & Pate (2013) The law of demand states that the quantity demanded of
a good or service in a given time period is negatively related to its price ceteris paribus. Which
basically means that if everything is constant, the consumer wi
According to Amacher & Pate (2013) the short run is the period of time that is too short to vary
all the inputs; while, the long run is a period of time where all inputs can be varied. Being the
owner of a fast food restaurant with the issue of having man
The microeconomic principle being used in data mining is, the principle of supply and demand
and the advantage it provides to the business sector. Companies are collecting and accumulating
data, companies seek to capture data abo
According to Amacher & Pate (2013) fixed costs are the costs of all fixed inputs, that means they
cannot be changed or avoided in the short run. For example, the fixed costs of operating a
vehicle whether you drive it or not will be the cost o
Cash transfers and in-kind transfers are benefits programs from the government; however, cash
transfer programs are typically preferred over their counter program. As described by Amacher & Pate
(2013) economist who tend to be egalitarian prefer cash tran
Current liability- responsibilities that must be well-known
within one year or the operating cycle, whichever is
longer. I think that current liabilities are separate from
long-term commitments because knowing which debts
need to be paid for or taken care
There are numerous kinds of individuals that business owners can use. First, with a sole
proprietorship, there is no legal action to start the business and the owners only have to answer to
themselves. There is also high in service flexibility when you ar
Grade Details - All Questions
Question 1.Question :
Opportunity costs are
only dollar expenditures.
costs that never include dollar expenditures.
dollar expenditures plus time costs and other forgone activities.
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