With reference to the different types of markets, compare pure competition with monopolistic competition
What will be an ideal response?
Under pure competition, the market consists of many buyers and sellers trading in a uniform commodity. No single buyer or seller has much effect on the going market price. Under monopolistic competition, the market consists of many buyers and sellers trading over a range of prices rather than a single market price. A range of prices occurs because sellers can differentiate their offerings to buyers.
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The direct labor efficiency variance is the difference between the standard hours allowed and the actual hours multiplied by the actual labor rate
Indicate whether the statement is true or false
Under U.S. GAAP, the classification of interest expense as a(n) _____ activity and dividends paid on common or preferred shares as a(n) _____ activity appears inconsistent to some observers as both are payments to suppliers of funds
a. operating; financing b. investing; financing c. financing; investing d. financing; operating e. investing; operating
To achieve coherence, effective writers use different terms for the same idea, such as manager and supervisor
Indicate whether the statement is true or false
When a firm is just starting out or entering a new market, it doesn't typically have the option of designing the best marketing channel structure.
Answer the following statement true (T) or false (F)