Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .
What is the 50-30-20 budget method?The 50-30-20 approach that is often used in budgeting is known to be one one the of the simplest and very straight way in the aspect of money management options.
Note that this ideal is often made for those who need to form a budget but they are said to not possess the time or the patience to be able to keep track of their spending in a well detailed manner.
The ways is that one need to spend 50 percent of their after-tax pay on needs, 30 percent in regards to wants, and the last 20 percent in regards to savings or paying off any kind of debts.
Hence, Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .
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On october 4, 2020, concord company had credit sales transactions of $3300 from merchandise having cost $2600. the entries to record the day’s credit transactions include a:______.
On October 4, 2020, concord company had credit sales transactions of $3300 from merchandise having cost $2600. the entries to record the day’s credit transactions include a credit of $3,300 to Sales.
The term "credit sale" refers to the transfer of ownership of goods and services to a customer where the amount due is paid at a later date. In other words, a credit sale is a purchase resulting from the customer not paying in full at the time of purchase.
For example, if a parts company sells its widgets to a customer on credit and the customer agrees to pay for one month, the parts company will essentially provide offer the customer an interest-free loan equal to the purchase amount. Your credit sales journal entry will debit your accounts receivable with the amount credited by the customer.
Additionally, you will credit the sales tax payable and the revenue account. Selling credits are payments that are not made until days or weeks after product delivery. Short-term credit agreements appear on a company's balance sheet as accounts receivable and are different from immediate cash payments.
There are three main types of sales transactions: cash sales, credit sales, and prepaid sales. The difference between these purchases is simply when the money is received.
1. Cash sales: Cash is collected when a sale is made and the goods or services are delivered to the customer.
2. Sales on credit: The customer has a period after the sale is made to pay the seller.
3. Prepaid Sales: The customer pays the merchant in advance before the sale is made.
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Which process is defined as the give-and-take process between two or more parties aimed toward reaching an agreement?
The negotiation is process is defined as the give-and-take process between two or more parties aimed at reaching an agreement.
Negotiation is a strategic discussion that resolves an issue in a way that both parties find acceptable. In a negotiation, each party tries to persuade the other to agree with his or her point of view.
Examples of negotiations include: Negotiating with a customer over the price and terms of a sale. Synonyms for negotiation. accommodation, compromise, concession, give-and-take.
Some of the most common Negotiations are distributive negotiation, integrative negotiation, team negotiation, and multiparty negotiation.
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There are five steps in the KPMG Professional Judgment Framework: (1) Consider alternatives, (2) Reach conclusions, (3) Gather and evaluate information, (4) Articulate and document rationale, and (5) Clarify issues and Objectives. What is their correct order of implementation
There are five steps in the KPMG Professional Judgment Framework
1-Clarify issues and objectives2-Consider alternatives3-Gather and evaluate information4-Reach a conclusion5-Articulate and document rationaleBetter decisions can be made by taking into account the fact that other judgment frames and different points of view exist, having many judgment frames increases an auditor's professional skepticism.Professional judgment is the process of making decisions or drawing conclusions based on pertinent training, information, and experience when analyzing the facts, calculating probabilities, or deciding between alternatives.What is the process of judgement?A court's decision known as a judgment establishes each party's rights and obligations in order to resolve a dispute between two parties. In personam, in rem, and quasi in rem judgments are the three categories. Although they can also be non-monetary, judgments must be enforceable by law.Learn more about KPMG Professional Judgment Framework brainly.com/question/27312485
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How much would you pay (today) for a $500,000 growing perpetuity that begins in 1 year. Assume the annual discount rate (I/Y) of 5.5% and a 1.00% annual growth in the perpetuity payment that you will receive.
The amount of cash payable for the growing perpetuity today is $11,111,111.11
What is a growing perpetuity?
A growing perpetuity is an investment opportunity that pays its holder cash flows on periodic basis, such that the subsequent cash flows grow at a constant rate forever.
The present value of the growing perpetuity means the amount that needs to be paid today in order to be entitled to the annual cash flows that grows at the constant rate forever.
The formula for the present value formula of a growing annuity is as below:
PV=D1/(r-g)
D1=first cash flow=$500,000
r=discount rate=5.5%
g=growth rate=1.00%
PV=$500,000/(5.5%-1.00%)
PV=$11,111,111.11
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The method of reporting operating activities that lists operating cash receipts and subtracts operating cash payments is referred to as the:
The direct method of cashflow is one that lists the operating cash receipts and subtracts operating cash payments.
What is the cash flow direct method?This cashflow method determines the changes in cash receipts and payments that are reported in the cash flow from the operations section.
Hence, the method method of cashflow is one that lists the operating cash receipts and subtracts operating cash payments.
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A CPA can accept a gift from a client as long as: Group of answer choices Adequate internal controls exist in the client entity to ensure gifts are made without any pre-conditions Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule The amount is below what is considered to be a material payment Audit services are not provided to the client
In order for a CPA to accept a gift from a client, Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
When can a CPA take a gift from a client?A Certified Public Accountant (CPA) is someone who has to abide by the highest ethics in the accounting profession so as to protect the integrity of financial statements and the accounting profession in general.
A CPA can therefore not be seen to be influenced by their client in a way that brings bias such that financial statements cannot be trusted. One way this can happen is if the CPA accepts a gift from the client.
To avoid this, the gift accepted must be in line with integrity and objectivity rules that ensure that the independence of the Certified Public Accountant (CPA) is protected.
In conclusion, a Certified Public Accountant (CPA) can accept a gift if Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
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Grace wants to work with clients who are interested in time-shares. What property type will she be dealing with
To work with clients interested in time-shares, Grace can handle the recreational property.
What is a recreational property?Corresponds to a property controlled by a government agency that is intended for leisure and recreation activities, such as parks and ecological reserves, where individuals can make visits for the purpose of entertainment, education or fun, during a vacation, for example.
This type of property is intended for the leisure of the population, and may be charged a fee for maintenance of the area or have free entry.
Another category of recreational property is properties used periodically for leisure purposes, such as houses rented for summer seasons.
Therefore, as Grace is interested in working with clients interested in time-shares, the ideal recreational property for her to work with would be vacation properties, which are shared properties for periodic use at different times.
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All of the following are true about General Data Protection Regulation (GDPR) except: a.GDPR does not cover EU employees b.GDPR is a set of data privacy requirements that apply across the European Union c.GDPR covers organizations that market to or process information of EU end users d.GDPR covers organizations that market to or process information of EU customers
All of the following are true about General Data Protection Regulation (GDPR) except: b.GDPR does not cover EU employees
What is General Data Protection Regulation?General Data Protection Regulation is a regulation which laydown rules and regulations a person or an individual who want personal data or information from a person who based in European Union must follow.
Hence, the following are true about General Data Protection Regulation:
GDPR does not cover EU employeesGDPR covers organizations that market to or process information of EU end users GDPR covers organizations that market to or process information of EU customersLearn more about General Data Protection Regulation here:https://brainly.com/question/27416494
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Comparative advantage means :_________ A. the ability to produce a good or service at a lower opportunity cost than any other producer. B. compared to others you are better at producing a product. C. the ability to produce a good or service at a higher opportunity cost than any other producer. D. the ability to produce more of a product with the same amount of resources than any other producer.
The ability to create a good or service at a lower opportunity cost than any other producer is known as a comparative advantage. So, the response is OPTION 'A'.
Comparative advantage is the capacity of an economy to produce a particular good or service at a lower opportunity cost than its trading rivals.
When evaluating multiple production options, opportunity cost is a new factor to take into account when applying the concept of comparative advantage.
The principle of comparative advantage states that countries will trade with one another and export goods in which they are more competitively positioned.
The natural resources and labor force of a nation may be misused if only its comparative advantages are taken into account.
A nation's unquestionable capacity to produce a specific good more successfully is referred to as absolute advantage.
Hence, OPTION 'A' is the correct answer
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Cameron is expected to produce 550 parts per day, but his machine is capable of only 480. He is also expected to supervise six workers and make sure they have all the materials they need to perform their duties. Cameron is likely to experience ________.
Cameron is expected to produce 550 parts per day, but his machine is capable of only 480. He is also expected to supervise six workers and make sure they have all the materials they need to perform their duties. Cameron is likely to experience role overload.
Role overload is a specific stressor that reflects the perception that the demands of a job role exceed an individual's resources (Eatough et al., 2011). Therefore, role congestion can lead to resource exhaustion. This is a phenomenon that can be understood through a COR lens.
Role overload occurs when a person plays multiple roles at the same time and does not have the resources to perform them. It can develop not only from being mentally overwhelmed but also from being overwhelmed with time.
For example, if an employee leaves the company, it may be necessary to temporarily expand the role of another employee to accommodate the absence of the absent employee.
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Net operating profit after tax (NOPAT) includes operating revenues less expenses such as: Select one: a. All of these answers b. Cost of goods sold (COGS) and taxes on operating income and Selling, general and administrative expenses (SG
The correct answer is F
We get net operating profit after tax as follows :
Operating revenue
(-) Cost of goods sold (COGS)
Gross profit
(-) Selling, general and administrative expenses (SG&A)
Operating income
(-) Taxes on operating income
Net operating profit after tax (NOPAT)
Thus, as we can see from operating revenue we have deduced the items given in options A, B & C.
Hence the correct answer is F
Internet working income after taxes (NOPAT) represents an agency's earnings that might be distributed to its shareholders if it had no debt. In other phrases, it is the amount of cash income left over in any case working expenses and taxes have been paid for the yr.
Gross earnings are the profits of the organization left after paying off the direct costs. Operating income is the income of the organization left after paying off running expenses. Net income is the residual income left with the agency in any case deductions.
Running profit is the whole earnings and enterprise generates from sales after paying off all working costs, such as lease, worker payroll, equipment, and stock fees. The running earnings parent excludes profits or losses from interest, taxes, and investments.
The question is incomplete. Please read below to find the missing content.
Net operating profit after tax (NOPAT) includes operating revenues and fewer expenses such as
A) Cost of goods sold (COGS)
B) Taxes on operating income
C) Selling, general and administrative expenses (SG&A)
D) After-tax earnings from investments and interest expenses
E) All of the above
F) A, B and C only
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Units Direct materials Percent Complete Conversion Percent Complete Units completed and transferred out 120,000 100% 100% Ending work in process inventory 40,000 20% 60% Determine the equivalent units of production for the Forming department for direct materials and conversion costs assuming the weighted average method.
The equivalent units of production for the Forming department for direct materials and conversion costs assuming the weighted average method is equal to 144000 (conversion) & 128000 direct material.
DESCRIPTION DIRECT MATERIAL CONVERSION
Transfered out unit (100% complete) 120000 120000
ENDING INVENTORY
Material = 40000 * 20% 8000 24000
concersion - 40000 * 60%
EQUIVALENT UNITS 128000 144000
Conversion percentage is the method of the percentage into whole number i.e conversion cost.
Average method referred to as the weighted average fee technique, the common-cost approach is an accounting formula used whilst calculating inventory price. This figure is reached by way of dividing the entire fee of products by means of the total variety of products over a particular accounting cycle.
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The certified union for a bargaining unit is granted an exclusive right under the NLRA to represent: Question 10 options: All non-management employees within the company. All union employees. Only employees of a particular skill (craft union) or work (industrial union) All employees in that unit, union, or nonunion
The Correct Answer is (c) Only employees of a particular skill (craft union) or work (industrial union) which is Option C.
Craft unions organize workers along occupational lines and Industrial unions join everyone who works for one employer, or one industry, into one union
The certification process formalizes the collective bargaining relationship. Once a union is certified for a group of employees, the union becomes their exclusive bargaining agent. Unless the bargaining unit is later decertified, the employer is required to bargain in good faith to reach a collective agreement.
What is NLRA and its purpose.?National Labor Relations Act - The NLRA protects workplace democracy by providing employees at private-sector workplaces the fundamental right to seek better working conditions and designation of representation without fear of retaliation.The NLRA applies to most private sector employers, including manufacturers, retailers, private universities, and health care facilities.To know more about NLRA, check the given link.
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Correct Question - The certified union for a bargaining unit is granted an exclusive right under the NLRA to represents
A) All non-management employees within the company
B) All union employees
C) Only employees of a particular skill (craft union) or work (industrial union)
D) All employees in that unit, union, or nonunion
Larry's Kite Shack operates on the Florida beaches during the tourist season. Last year, Larry sold $25,000 worth of kites. His cost of goods was $7,000, and he paid himself a salary of $20,000. On an income statement, Larry's business would have a(n): Group of answer choices net loss gross expense negative revenue net profit negative retained earning
Negative net profit $2,000 to be reported in the profit or loss statement. also this will be reported as current years retained earnings this negative figure will lower the previous retained earnings balance.
What is Revenue?Revenue is the amount that an organization receives for the goods sold or services provided, the revenue is the core reason for the company to exist, revenue is generated and paid by the customers of the organization.
It is highly followed that the expenses of a company is lower than the revenue it generates. However in the given question Larry seems to be the sole trader and that is why he is paying the salary to himself.
The loss is calculated as
Gross profit is calculated first as
revenue - Cost of goods sold i.e $25000 - $7000 = $18000
then net loss = Gross profit - Administrative expenses i.e $18000 - $20000 = -$2000.
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More than one-third of the revenues in the texas budget each year come from federal dollars that flow into the state to be primarily used in which areas?
More than one-third of the revenues in the Texas budget each year come from federal dollars that flow into the state to be primarily used in areas that include grants, payments, and reimbursements.
The Texas budget includes federal funds for programs for public assistance. Direct payments to people from the federal government. Vendor payments for completing federal contracts wages given to federal workers who are employed in the state.
Tax receipts, license fees, federal assistance, and investment returns provide for the majority of revenues. Spending on government salaries, transportation, infrastructure, public assistance, public pensions, education, Medicaid, and corrections are a few examples of expenses.
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Milton friedman argued that the federal reserve should adopt a ________ to reduce fluctuations in real gdp, employment, and inflation.
A. restrictive fiscal policy
B. monetary growth rule
C. contractionary lending practices policy
D. fixed interest rate policy
Milton Friedman argued that the federal reserve should adopt a monetary growth rule to reduce fluctuations in real GDP, employment, and inflation.
Monetary growth is Increased money supply in the economy: Money supply growth has been high in the last two years, boosted by high exports.
Monetary definition refers to money or currency. A system that pays with dollar bills and other banknotes is an example of a monetary system. Of national currencies or coins, or related to them.
Due to the difficulty of exchanging goods and services, barter systems have been an obstacle to the division of labor and specialization between individuals, which are important factors in increasing productivity and economic growth.
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Firms that are able to effectively exploit their core competencies usually more easily achieve:
Firms that are able to effectively exploit their core competencies usually more easily achieve one of the main reasons why supply chain relationships are so important is the cost advantage or disadvantage that can be gained or lost within the supply chain, directly affecting a company's bottom line. i.e. their profit or loss.
A corporation is a community for short, a legal entity that is a collection of people with a specific purpose, natural, legal, or a mixture of both. Company members have common goals and work together to achieve specific goals.
A company is a legal entity formed by a group of individuals to conduct and operate a commercial or industrial business. A company may be organized in various ways for tax and financial liability purposes, depending on the corporate law of its jurisdiction.
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As a function of financial management, financial managers must understand tax regulations because ______. (select all that a
The function of financial management and its financial managers must understand tax regulations because:
- businesses want to minimize taxes
- they must consider the tax implications of major decisions
What is tax regulation?
Tax regulation means laws, guidelines or prospective tax laws with tax impact or revenue reduction impact on the firm financials.
The financial managers need to understand taxes as well its different types because they are also saddled with the responsibility of keeping taxes as minimum as possible in order to maximize the profit or the bottom-line of the company
Also, they need to consider the tax impact of major financing, investing or dividend decisions so as to ensure the performance of the keeping by a way of increasing shareholders' value is not sacrificed.
In essence, the finance managers must keep an eye on tax laws because the taxes must be keep at the minimum and also there is a need to consider taxes on major company's future decisions
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Valley bank retains the cancelled checks of its customers. valley must be able to provide customers with legible copies of checks paid for?
A cancelled cheque is one in which two parallel lines are drawn across the layout which can be retained upon the demand of the customer from the bank or a copy of it by charging a minimal fee from the customer.
Some exceptions include reproduction of cheques or their retainment for five years including the cheque types maybe of $ 100 or less.
The moment cash is drawn , the bank immediately marks it as cancelled which means the payment has already been made using the cheque and cannot be further used again to withraw any additional amount using the same customer account.
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Trainers at Lako Systems try to maximize the transfer of learning by demonstrating processes on the manufacturing floor rather than just describing them. This approach is known as
This approach by trainers at Lako Systems trying to maximize the transfer of learning by demonstrating processes on the manufacturing floor rather than just describing them is known as Transfer of training.
What is transfer of training?Applying knowledge and abilities learned during training to a specific job or role is known as transfer of training.
Transfer of training, for instance, happens when a worker applies the safety habits they learned in the classroom to their workplace.
The theory of transfer of training describes the positive, zero, or adverse performance results of a training program. It is a specific application of the theory of transfer of learning.
Many firms now strive to achieve the positive transfer of training, or the improvement in work performance attributable to training.
Training methods, workplace dynamics, and trainee characteristics all play a role in achieving this objective of positive transfer.
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What is the minimum monthly gross income you need to be able to afford the above and still save $100 a month? set all to zero except:_______. medicare $100, internet $50, telephone $50. food $600.
What is the minimum monthly gross income you need to be able to afford the above and still save $100 a month set all to zero except $800-$999 medicare $100, internet $50, telephone $50. food $600.The amount paid to an employee in a month before taxes or other deductions is known as gross monthly income.
The amount is specified in both job offer letters and paychecks. Overtime, bonuses, and commissions are all possible sources of additional gross monthly income. Gross pay is related. Your gross income will also help you budget and figure out how much money you'll have to save for retirement.
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rbs A non-profit organization has obtained a temporary daily on-sale license for a fundraiser. Who within the organization has to be RBS certified
A non-profit organization has obtained a temporary daily on-sale license for a fundraiser. The individual in the organization that has to be RBS certified is anyone or staff who serves drinks.
What is Responsible beverage service?Responsible beverage service (RBS) is the training given to individual who could be staff of an organization or owners of businesses that sell and serve alcohol.
The knowledge and skills needed to succeed in the business is given for legal requirements.
Therefore,
A non-profit organization has obtained a temporary daily on-sale license for a fundraiser. The individual in the organization that has to be RBS certified is anyone or staff who serves drinks.
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APV and WACC are similar in that they reflect the tax benefit of Blank______. Multiple choice question. leverage relocation equity waiting
APV and WACC are similar in that they reflect the tax benefit of leverage.
How to illustrate the information?It should be noted that the adjusted present value (APV) is used to value a project.
The weighted cost of capital (WACC) implies the rate at which a company is expected to pay all its security holders in order to finance its assets.
In conclusion, APV and WACC are similar in that they reflect the tax benefit of leverage.
Complete question:
APV and WACC are similar in that they reflect the tax benefit of ...........
a. leverage
b. relocation
c. equity
d. waiting
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The manipulation check is advantageous if ________. the results obtained are nonsignificant single-blind procedures are used double-blind procedures are used the demand characteristics are minimal
Answer: advantageous
Explanation:
The deed restrictions on Vic and Beverly's home require all properties within their subdivision to be residential construction. When they notice that a convenience store is being built a block from their home, what can they do
At the point of notice that a convenience store is being built a block from their home, they can request an injunction from the justice of the peace court.
What guides the deed restrictions?Most developers often place restrictions on the use of all lots in a subdivision as a general plan for the benefit of all lot owners.
Because of this, the placed restrictions give each lot owner the right to apply to a justice of the peace court for an injunction to prevent a neighboring lot owner from violating the recorded restrictions.
If the injunction is granted, the court directs the violator to stop or remove the violation.
Hence, at the point of notice that a convenience store is being built a block from their home, they can request an injunction from the justice of the peace court.
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When Michael writes a $100 check to John and John deposits the check, Michael's bank ________ assets of $100 and John's bank ________ liabilities of $100.
Answer:
loses; gains
Explanation:
Which component is more likely to be biased if book values are used in the calculation of wacc rather than market values?
Common Stock is more likely to be biased if book values are used in the calculation of WACC rather than market values.
How Does Common Stock Work?Security called common stock serves as a proxy for a company's ownership. Common stockholders decide on corporate policies and elect the board of directors. Usually, long-term returns from this type of stock ownership are higher.
Common shareholders, however, do not have any rights to a company's assets in the case of liquidation until all bondholders, preferred shareholders, and other debt holders have been fully compensated. On a company's balance sheet, common stock is listed under stockholders' equity.
How Do I Cast a Ballot Using Common Stock at Corporate Meetings?
Ordinary common shares typically have one vote per share, giving shareholders the ability to cast a ballot on corporate decisions, which are frequently made at a company's annual meeting of shareholders. If you're unable to vote in person, you can choose to have a representative vote on your behalf if you choose (along with others who cannot attend).
Votes may be taken on matters like whether to merge with or purchase a business, elect board members, or consent to dividends or stock splits.
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Who is responsible for governing a condominium?
A firm's decision about what output level to produce is typically a ______ decision.
a) coordinated
b) marginal
c) sequential
d) production.
Option B. marginal.
The average fixed cost decreases as performance improves. Multiple choice problem. The total or production volume of a particular product or service produced. Total output per unit of work.
Marginal production cost measures the change in the total cost of a product due to the production of one additional unit of that product. Marginal cost (MC) is calculated by dividing the change in total cost (C) (Δ) by the change in quantity (Q).
Marginal cost is calculated by dividing the change in total cost by the change in quantity. Suppose Company A produces 100 units at a cost of $ 100. The company will then produce another 100 units at a cost of $ 90. Therefore, the marginal cost is a change in total cost, which is $ 90.
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Compared to the perfectly competitive firm, the monopolist faces a demand curve that is ___________________ elastic because there are ______________ substitutes for the product produced by the monopolist.
fewer; less
Compared to the perfectly competitive firm, the monopolist faces a demand curve that is less elastic because there are fewer substitutes for the product produced by the monopolist.
What is the demand curve faced by a perfectly competitive firm and a monopolistic?A firm's demand curve is perfectly elastic under perfect competition because it can sell any quantity of commodities at the going rate. Therefore, even a slight price rise will result in no demand. This suggests that the company has no influence over price. Large businesses, on the other hand, that are subject to monopolistic competition, deal with differentiated products based on brand. As a result, the demand curve has a decreasing slope and enjoys monopoly power. Only by lowering the price of the product and selling close substitutes will it be able to sell more goods. As a result, under perfect competition, the demand curve facing a firm is perfectly elastic, while under monopolistic competition, it is less elastic.
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